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[Interview] From Value-Centered Products to the Capital Market: Designing a Virtuous Cycle for K-Impact

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[Editor’s Note🖊] How does a young person who simply wanted to “do good” grow into an innovator working to reshape corporate governance?   This interview features Seonguk Jeon, who began with the aspiration to build a company that does good, and went on to work across various fields of the social and solidarity economy — including social enterprises, cooperatives, intermediary support organizations, and member-based networks. Today, he is active as a social economy expert and the founder of the social venture Soact Inc.   Organizations in the social and solidarity economy are expected to pursue both social value and financial sustainability, which can sometimes make them difficult for consumers or investors to fully understand. However, this very characteristic can also be a strength. Building a virtuous cycle of K-Impact — where value creation and financial systems reinforce each other — has become increasingly important.   In this interview, Jeon shares how he f...

“So… Do You Actually Make Money?” Five Common Misconceptions About K-Impact

[Editor’s Note] As a journalist who has covered social impact in South Korea for years, I’ve been asked the same questions again and again whenever I talk to people outside the impact sector. Based on my reporting experience, I’ve selected five of the questions I hear most often.   When I explain social solidarity economy or social innovation — what is often broadly referred to as the “social impact” sector — to people who are unfamiliar with it, the conversation almost always ends in similar questions. These come from close friends, casual acquaintances, and even people I meet through work.   These questions are not simply expressions of curiosity. They reveal how unfamiliar social impact still is to many people, and they point to the first obstacles people encounter when trying to understand this field. That’s why I want to organize these frequently asked questions from the perspective of those who are hearing about social impact for the first time.   👀Q1. ...

From This Year On, I Will Use the Term “Social and Solidarity Economy” Instead of “Social Economy”

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“Social and Solidarity Economy,” a term increasingly seen in promotional materials. In South Korea, a shift in terminology usage is becoming visible.(Photo by Milly)    I have previously written a post outlining the differences between the terms “social economy” and “social and solidarity economy.”   In that earlier piece, I focused mainly on comparing the two concepts — how they differ conceptually and in what contexts each term has been used.   👉Related post The Shift in Terminology: From “Social Economy” to “Social Solidarity Economy”   What I want to write about today is not another attempt to redefine these terms. Rather, this post is a declaration of which term I will choose to use in this blog going forward.   The term “social economy” has played an important role in Korean society. It has functioned as the language of policy and institutions, and as a bridge connecting the public sector and the market. It has allowed social enterpri...

How Communities Create Change: Interview with a Community Expert (Part 2)

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Nahyunhong, a community leader running a social economy network in Korea (Photo courtesy of Nahyunhong)   In the previous article, we explored how “connection” takes shape in the field of social economy and social innovation through an interview with Na Hyunhong, a community expert working in Korea’s social impact sector. We examined how online communities and open chat rooms — relatively lightweight formats — have expanded into nationwide networks. 👀Read Part 1 of the Interview The Power That Connects Korea’s Social Economy Ecosystem: Community Expert Interview (Part 1) In this second installment, we take a step further through Na Hyunhong’s interview to examine what connection truly means on the ground. We look more closely at the principles and philosophies that guide community building, as well as what is needed for Korea’s social impact ecosystem to grow sustainably. Going beyond the idea of community as simply a gathering space, this interview asks how communities actually...

The Power That Connects Korea’s Social Economy Ecosystem: Community Expert Interview (Part 1)

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Nahyunhong (right) pictured with a cooperative member(Photo courtesy of Nahyunhong)   Social economy and social innovation are not abstract concepts. In practice, they take shape through real people with clear roles, actively working in the field. Among them, those who connect — linking regions and institutions, experimentation and scale — are already playing a critical role in helping social economy and social innovation function effectively and expand further. By identifying needs both online and offline, they create structures that allow actors with different values and speeds to work together.   These community experts are not merely intermediaries; they are practitioners who sustain momentum. They go beyond simply connecting people, supporting collaborations so that they lead to tangible outcomes. While failures and trial-and-error inevitably arise along the way, they help transform these experiences into accumulated knowledge and know-how.   For the social e...