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...

Ongoing discussions on adopting the term 'Social Solidarity Economy'. This photo was taken earlier this year at a local event explaining the shift in terminology.(Photo by Milly)  In South Korea, the term “social economy” has been widely used for many years. However, in recent times, there has been an active movement to replace this commonly used term with “social solidarity economy,” and this change is gradually taking root in the field.   Why change the name to “social solidarity economy”?   This shift in terminology stems from a desire to broaden the scope of meaning embedded in the words themselves. Traditionally, the term “social economy” referred to economic systems that create social value   primarily including social enterprises, cooperatives, village enterprises, self-support businesses, and social ventures. Because of this, its role was often perceived as somewhat limited.   In particular, Korea’s social economy has largely developed under ...

A chalkboard at a local social enterprise, reflecting their deep and ongoing struggle to craft survival strategies as part of the social economy.(Photo by Milly)  There are many different perspectives on social economy. Generally, it is sometimes seen as an actor competing in the market economy, while in other cases, it is considered an economic model rooted in local communities. Many of those who are actively involved in the social economy would probably say that it is fundamentally an economy based on local communities.   😍Why Does the Social Economy Value the Local?   One main reason the social economy places importance on the local is that it often begins as a response to local issues.   For instance, in the case of social economy enterprises that aim to solve environmental problems through business, instead of taking on the grand challenge of “saving the planet,” they start with a smaller, more realistic goal like “let’s circulate our community’s wa...