Two Key Areas Behind the Growth of Social Economy in Seoul: Seongsu and Bulgwang
The largest number of social economy enterprises in South Korea are concentrated in Seoul and the surrounding Gyeonggi Province. This is naturally due to the large population and economic activity in these regions. Today, we’ll explore the unique development of Seoul’s social economy and why Seongsu-dong and Bulgwang-dong have become key hubs. ❓Why Seongsu and Bulgwang? Seoul’s social economy ecosystem has grown in a somewhat unique way it evolved based on specific regions. Among them, Seongsu and Bulgwang stand out as leading districts. The main difference lies in the people involved: ✔Seongsu is mostly led by young changemakers ✔Bulgwang is home to experienced entrepreneurs with diverse backgrounds. A major reason these two districts became hubs is access to space. In South Korea, launching a startup typically requires an office, but affordable spaces in well-connected locations are rare especially for small or mis...