How Korea’s Social Enterprises Can Survive: Sales Channels and Product Strategy
Social economy enterprises in Korea continue to thrive by fostering community participation, offering skill-building opportunities, and promoting ethical consumption.(Photo by Milly) The biggest difference between social economy enterprises and regular businesses is that they aim to generate both profit and social value. Simply put, they operate businesses based on a mission or value they wish to achieve or expand. But growing impact while also making money? That’s no easy task. “I don’t really know if this is a product from a social enterprise or a cooperative. I just buy it if I think it’s good and reasonably priced.” A close friend of mine said this. Even after knowing me for years and understanding the kind of work I do, being a “social economy product” wasn’t a factor when making actual purchasing decisions. And honestly, not just friends — even my own family rarely go out of their way to buy from social economy enterprises. So why is it so hard to sell...