Over the past half-century, Korea has achieved remarkable economic growth. Yet behind this success lie a number of emerging challenges — inequality, environmental degradation, rural decline, and the growing issues of low birthrate and an aging population.   These problems are too complex to be solved by the government or large corporations alone. As awareness of this reality spread, new groups of people began to explore innovative ways to address social problems. They are the social innovators .   Social Economy vs. Social Ventures   Korea’s social economy can be broadly categorized into five types: cooperatives , village enterprises , social enterprises , self-sufficiency enterprises , and social ventures. These organizations all pursue both profit and purpose — creating social value through business activities.   Among them, social ventures stand out. Unlike traditional social economy organizations such as cooperatives or village enterprise...

A speaker delivering a presentation at the Insight Lecture .(Photo by Milly)  The grand festival of social economy enterprises in Incheon, the Incheon Social Economy Expo , was held from September 26 to 28 at the Incheon Imagination Platform .   Related post: Highlights from the 2nd Incheon Social Economy Fair On the first day of the event, right after the opening ceremony on the 26th, a special insight lecture was held. Seongjun Lim , Director of mysc (Merry Year Social Company), a consulting and impact investment firm specializing in social innovation , presented practical strategies for how social enterprises can survive and grow. Many social enterprises and intermediary support organizations listened attentively with great interest.   In this article, I’d like to summarize the key points from Director Lim’s presentation on how social enterprises can build a sustainable business model.   The Meaning of Social Value and Impact   Social enterpris...

Banner of the 2nd Social Value Festa.(Photo by Milly)  From August 25 to 26, at COEX in Gangnam, Seoul, a special gathering took place where Korea’s changemakers came together for the 2nd Korea Social Value Festa.   This annual event, now in its second year, brings together enterprises, organizations, and changemakers dedicated to creating social value in Korea. It serves as a meaningful platform to share experiences, insights, and achievements. This year’s theme was “Designing the Sustainable Future.”   The entrance of the exhibition hall was bustling with people.(Photo by Milly)  The moment I stepped into the venue, I could feel the passion and energy overflowing, almost heating up the summer air even more. Having attended last year as well, I was struck once again by the sight of so many people continuously devoted to solving social issues and taking action on the ground.   Innovative technologies, including AI for expanding social value, drew parti...