Inside South Korea’s Social Impact

  In my previous post, I examined how deeply the frontline of South Korea’s social solidarity economy is impacted by the ebb and flow of public budgets. Having spent years reporting on the social solidarity economy and social impact sectors, I have witnessed firsthand how the ecosystem rapidly expands or abruptly contracts depending on the budget climate. Looking at this reality, some criticize the sector for being overly reliant on public funding. At the same time, others argue just as strongly that public priming support remains essential, as these organizations tackle social challenges overlooked by the conventional market through business models.   In this piece, I want to outline the legitimate role of public budgets and explore the necessary exit strategies for building a truly sustainable social solidarity economy ecosystem.   👉👉Read 1 First Part When the Budget Changes, the Field Changes: The Reality of South Korea’s Social Solidarity Economy (Part 1) ...

  South Korea’s social solidarity economy has developed at a rapid pace. This was made possible largely because of public support. By formulating policies and investing public budgets, the current ecosystem of the social solidarity economy was able to take shape. However, while this growth environment may contribute to rapid advancement in the short term, over the long term, it has also created a reality where the sector can easily shrink or expand depending on policy shifts.   Recently, Gyeonggi Province announced plans to abolish its Social Innovation Economy Bureau — which had overseen social solidarity economy policies across the province — and drastically cut the related budget for the coming year. The frontline sector immediately pushed back. Grassroots stakeholder organizations in Gyeonggi issued joint statements, and nationwide network organizations released statements calling for a reconsideration. Even lawmakers from the ruling party issued a statement urging the...

  While my professional background spans journalism, writing, and editorial work, my undergraduate major was actually social welfare. Perhaps because of this foundation, I have always held a deep interest in marginalized communities, social change, and changemakers. It is also the very reason I have remained in the social sector to this day, reporting from the field and writing stories.   In this piece, I want to take a moment to reflect on how my perspective has evolved through my work in the nonprofit and social impact sector. It is a reflection on how my mindset has changed from when I first started to now, having spent nearly a decade immersed in South Korea's social impact and social solidarity economy ecosystems.   Systems Must Come Before Passion🌞   When I first started out as a social sector reporter, I was constantly busy. Beneath the broad umbrella of "social impact," various domains — such as community finance, housing, the environment, caregi...