South Korea Passes the Framework Act on Social and Solidarity Economy!
On August 20, South Korea's National Assembly finally passed the Framework Act on the Social and Solidarity Economy. This milestone comes 13 years after practitioners in the field first called for comprehensive legislation. Colleagues across the social impact sector shared congratulations and applause. Given the long journey to this point, the prevailing sentiment is that field perspectives must continue to guide the ongoing implementation and refinement of the law. This article outlines the core provisions of the newly enacted Framework Act and explores what it means for the ecosystem. Defining Social and Solidarity Economy🍪 The Framework Act defines the Social and Solidarity Economy (SSE) as follows: "Economic activities conducted based on mutual aid, cooperation, and solidarity to achieve shared community benefits and deliver social values." One of the most significant aspects of the Framework Act is that it bridges previously fragm...