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Status of social economy development in Seoul : A case study of Seoul

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  • Status of social economy development in Seoul
  • KIM,Yeon Ah; JUNG, Taein
  • Global Social Economy Forum


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Title Status of social economy development in Seoul
Similar Titles
Sub Title

A case study of Seoul

Material Type Reports
Author(English)

KIM,Yeon Ah; JUNG, Taein

Publisher

Seoul, South Korea : Global Social Economy Forum

Date 2016
Pages 100
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Economy < Economic System
Social Development
Holding Global Social Economy Forum
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Abstract

The Korean social economy has grown at a remarkable pace over the last few years, attracting attention from around the world. The number of social economy enterprises, of which there were a mere 501 as of the end of 2010, has multiplied exponentially since the enactment of the Framework Act on Cooperatives (FAC) in 2012, reaching 11,421 (including 1,506 certified social enterprises, 8,551 cooperatives, and 1,364 community enterprises) as of the end of 2015. In other words, the social economy in Korea, measured in terms of the number of actors and enterprises involved, has multiplied by over 22 times in less than five years since the Korean government began to provide policy support. If we counted nonprofit corporations and organizations that strive to realize social values through economic activities, such as rehabilitation enterprises, rural community companies, and other enterprises catering to the employment of severely disabled persons, the scope of the social economy would grow even wider. Seoul alone is home to 23.2 percent of all Korean social economy enterprises (260 certified social enterprises, 2,267 cooperatives, and 119 community enterprises, total 2,646 enterprises), leading the development and progress of the social economy nationwide.