Inside Korea’s Social Impact

Scene from the “Social and Solidarity Economy Policy and Budget Direction Forum” held on May 12, where proposals for the 2027 social and solidarity economy budget and policy direction were discussed (Photo source: Social and Solidarity Economy Korea)   In a previous post, I mentioned that the Korean Ministry of the Interior and Safety secured KRW 11.8 billion (approximately USD 8.5 million) in support funding for the social and solidarity economy (SSE) sector in 2026. Although this amount increased compared to the previous year, many people in the field point out that it is still far below the level seen in 2022, when the sector was more actively supported.   Now, people working in Korea’s social and solidarity economy sector are beginning to present their opinions on the direction of policies and budgets for next year (2027). In today’s post, I would like to summarize the proposals discussed by practitioners during the “2027 Social and Solidarity Economy Policy and Budget...

  As mentioned several times on this blog, Korea’s social and solidarity economy organizations — such as social enterprises, cooperatives, village enterprises, self-sufficiency enterprises, and social ventures — have traditionally been managed by different government ministries depending on their policy area and support system.   In many countries overseas, the social and solidarity economy is often explained as a single ecosystem. Korea, however, has developed somewhat differently. While these organizations all pursue social purposes in a broad sense, they are governed by different ministries and legal systems depending on what type of organization they are classified as.   To put it simply, even if two organizations are both “social and solidarity economy organizations responding to the climate crisis,” they may still be subject to completely different laws and support systems depending on whether they are classified as a social enterprise or a cooperative. ...