Korea’s intermediary organizations in the social economy work closely with field enterprises to drive their growth and development. (Photo by Milly) Korea’s social economy has long grown under the leadership of the central government. With the enactment of the Social Enterprise Promotion Act (2007) and the Framework Act on Cooperatives (2012), the social economy was formally institutionalized. More recently, the Act on the Fostering and Support of Village Enterprises was passed, further expanding its scope.   Today, the social economy is gaining attention not merely as a job creation policy, but as a key driver of sustainable regional development and a viable alternative for solving social problems.   The Shift Toward Local-Led Change and the Emergence of Intermediary Organizations   The center of gravity in Korea’s social economy is shifting — from the central government to local communities and the private sector. Each region has begun to build its...

  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...

  Recently, the concept of collective impact has been gaining attention in Korea’s social economy and social impact sectors. Rather than individual organizations tackling complex social problems alone, collective impact emphasizes cross-sector collaboration to achieve shared outcomes. This post explores how collective impact is taking root in Korea and why it matters.   What Is Collective Impact?   The term collective impact was first introduced in 2011 by the Stanford Social Innovation Review. As the name suggests, it refers to a structured form of collaboration built around a common agenda to create social change. Unlike loose partnerships, collective impact is a strategic alliance based on shared goals.   According to SSIR, there are five key components of collective impact:   👉A common agenda 👉Shared measurement systems 👉Mutually reinforcing activities 👉Continuous communication 👉A backbone support organization   Why Does Korea N...