Why Civic Assetization?   Recently in Korea, alleyway commercial districts that reflect local characteristics have become popular destinations. Not only Koreans but also international tourists frequently visit these areas, and countless people pass through them every day.   As foot traffic increases, the local economy thrives. However, rent prices rise, and long-standing shops and residents are often forced out. This leads to the transformation or loss of local history and culture, a phenomenon known as gentrification .   One promising solution to this issue is civic assetization .   What is Civic Assetization?   Civic assetization refers to residents and community members pooling funds to collectively own and democratically manage various tangible and intangible assets, such as buildings, land, cultural spaces, and renewable energy facilities.   The key is that it’s not just about shared ownership. Civic assetization aims to ut...

The reason social economy enterprises must prioritize both social value and profitability is that this ensures the sustainability of the business. Only sustainable enterprises can achieve long-term impact and realize the goals they initially set.   Moreover, stable social economy enterprises are better positioned to attract impact investment . Impact investment deserves attention because it influences both the growth and expansion of a business.   What is Impact Investing?   Impact investing is different from simply pursuing financial returns or making donations. It involves investing in businesses or organizations that address social issues — such as the environment, poverty, education, and human rights — through business solutions, while simultaneously generating social/environmental value and financial returns. Impact investing has been formally introduced in Korea for over ten years.   Investment targets include social economy enterprises, non-pr...

A speaker delivering a presentation at the Insight Lecture .(Photo by Milly)  The grand festival of social economy enterprises in Incheon, the Incheon Social Economy Expo , was held from September 26 to 28 at the Incheon Imagination Platform .   Related post: Highlights from the 2nd Incheon Social Economy Fair On the first day of the event, right after the opening ceremony on the 26th, a special insight lecture was held. Seongjun Lim , Director of mysc (Merry Year Social Company), a consulting and impact investment firm specializing in social innovation , presented practical strategies for how social enterprises can survive and grow. Many social enterprises and intermediary support organizations listened attentively with great interest.   In this article, I’d like to summarize the key points from Director Lim’s presentation on how social enterprises can build a sustainable business model.   The Meaning of Social Value and Impact   Social enterpris...