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. ...

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...