In recent years, one phrase has often been heard across Korea : “ The regions are disappearing .”   Population decline, concentration in the Seoul metropolitan area , lack of jobs, and the collapse of local communities have made this an urgent and unavoidable challenge. To keep regions alive, new and practical solutions are needed.   Amid these challenges, village enterprises are drawing renewed attention. A village enterprise is not just a small business — it is a grassroots movement for social innovation , where residents come together to solve local problems and create economic opportunities using their own resources.   Until recently, village enterprises in Korea had relatively weak institutional foundations, often relying on government grants or public competitions . However, the atmosphere has started to change. In July 2025, the Village Enterprise Promotion and Support Act was finally passed by the National Assembly , marking a turning point. ...

In 2023, international speakers were invited to a forum highlighting the importance of social value measurement.(Photo by Milly)  In the previous post, I talked about why social economy organizations in Korea — such as social enterprises, cooperatives, village enterprises, self-support enterprises, and social ventures — need to measure their impact. In this post, I’ll look at how these organizations are actually measuring the impact they create.   Korea’s representative approaches to impact measurement include the Social Value Index (SVI) and the Social Progress Credit (SPC) .   👀Social Value Index (SVI)   One of the government-led methods for measuring impact is the Social Value Index (SVI). The Korea Social Enterprise Promotion Agency, a public institution, has developed this index to assess the impact created by various social economy organizations.   In 2023, the Korean government officially announced the introduction of the SVI system. The...