Songpa-gu Cultivates Successful Models for Social Economy Enterprises

Recruitment of Participant Companies for 'Songpa Social Economy Success Model Kiwoom Project' until 27... 100 Million Invested for Business Development Funds, Management Consulting, Office Space, and Market Expansion Support

[Asia Economy Reporter Jong-il Park] Songpa-gu (Mayor Park Seong-su) is recruiting companies to participate in the ‘Songpa Social Economy Success Model Growth Project’ until the 27th.

Recently, social economy enterprises, which pursue social values such as common interests and mutual growth based on social solidarity and cooperation beyond competition and profit generation, have emerged as a new business model.

According to the district, there are currently 245 social economy enterprises in Songpa-gu. Not only is the number of registrations steadily increasing every year, but the types have also diversified to include cooperatives, (preliminary) social enterprises, social cooperatives, village enterprises, and self-support enterprises.

The district is conducting the ‘Songpa Social Economy Success Model Growth Project’ (hereinafter referred to as the Growth Project) to help social economy enterprises achieve qualitative growth and sustainable development beyond quantitative growth. The goal is to foster a ‘Songpa-type social economy enterprise success model.’

This year, Songpa-gu will invest 100 million KRW of district funds in the Growth Project to provide comprehensive support in various areas, including ▲ business development expenses of up to 50 million KRW per company, ▲ professional management consulting and business redesign, ▲ office space at the Songpa Social Economy Support Center and Sincheon Startup Incubator, and ▲ opportunities to develop sales channels such as participation fees for social economy markets and fairs.

The support period is up to three years, and continued support will be decided based on evaluations after the completion of each annual project.

To this end, companies to participate in this year’s Growth Project are being recruited.

The recruitment targets are (preliminary) social enterprises, village enterprises, social cooperatives, self-support enterprises, etc., established as corporations within five years and located in Songpa-gu. Social economy enterprises planning to relocate to Songpa-gu can also participate.

Applications can be submitted by visiting the Songpa-gu Office Job Policy Division with the required documents by the 27th, referring to the announcement on the Songpa-gu website (www.songpa.go.kr).

The district plans to select around three companies next month through a review by the screening committee and presentations by the applicant companies. Afterward, agreements will be signed, and full support will begin.

Park Seong-su, Mayor of Songpa-gu, said, “Through the Growth Project, we will create a Songpa-type social economy enterprise success model,” adding, “Furthermore, we will actively discover and share excellent cases to revitalize the Songpa-gu social economy ecosystem.”