Korea’s social economy and social innovation sector have traditionally developed under central government-led policies. However, in recent years, the trend has shifted. A new wave of innovation is emerging — one that is grounded in local diversity and on-the-ground experience.   Across the country, regional change is becoming more visible. Local communities are no longer just recipients of social problems; they are becoming active agents, experimenting with and spreading their own solutions. At the heart of this transformation are regional social innovation hubs .   Social Campus On logo (Source: Screenshot from the Seoul Center page of the Korea Social Enterprise Promotion Agency) What Are Regional Social Innovation Hubs?   A social innovation hub is a collaborative space where social innovators , social ventures , startups, residents, youth, businesses, and public institutions work together to identify local challenges and develop solutions based on...

The  Korea Social Value Solidarity Fund  is working to create a financial ecosystem that supports the growth of social economy enterprises. (Source: Screenshot from the Korea Social Value Solidarity Fund website)   Why Social Finance ? Traditionally, finance has focused on maximizing profits. However, as social issues like climate change , inequality , aging populations , and regional decline intensify, there is a growing global movement to use capital to address these problems. Amid this shift, the concept of Social Finance has emerged. What is Social Finance?   When I first heard the term social finance, the first question that came to mind was “How is it different from conventional finance ?”   The answer is straightforward. Social finance is not just about generating profit; it aims to simultaneously solve social problems and expand social value.   In other words, social finance considers both financial returns and social/environmental impa...

 Around the world, social economy organizations don’t simply pursue profit. Instead, they aim to create a positive impact on people, communities, and the environment. For instance, they provide jobs for marginalized groups like the elderly or people with disabilities, or run sustainable businesses that protect the environment. These are all common activities carried out by social economy organizations. Discussions on how to measure the impact and value of social economy enterprises continue to evolve.(Photo by Milly)  But can we actually see the positive impact they create? Most social economy organizations say they strive to employ people, protect the environment, and improve communities. But in reality, explaining exactly who they impacted, how, and to what extent, is not so simple. This is why in Korea, “impact measurement” has recently drawn attention. Korea’s social economy has largely developed under public sector leadership. As a result, many organizations have relied o...