Yeongdeungpo-gu Mayor Cha Hyeon-il Joins Call for Enactment of Basic Social Economy Act

Participation in Urging Enactment of the 'Basic Social Economy Act' Pending for 7 Years with 27 Local Governments Nationwide... Emergence of Need for Legal Basis of Social Economy for People-Centered Community Development

[Asia Economy Reporter Park Jong-il] Chaehyunil, Mayor of Yeongdeungpo District, has called for the prompt enactment of the "Basic Act on Social Economy," which was proposed in 2014 and has been pending for seven years.

He participated in a special video titled "Waiting for the Basic Act on Social Economy," organized by the National Social Solidarity Economy Local Governments Council.

The video featured 27 local governments nationwide, including Yeongdeungpo District, all members of the National Social Solidarity Economy Local Governments Council.

The background for proposing the Basic Act on Social Economy stems from the need to clarify the legal basis of the social economy, which has been scattered across several individual laws without a fundamental law.

Social economy, which emphasizes human value and complements the shortcomings of the market economy, is gaining attention as an effective response to societal changes such as the Fourth Industrial Revolution, the COVID-19 crisis, and low birth rates.

Since enacting the "Yeongdeungpo-gu Ordinance on Fostering and Supporting Social Economy" in 2013, the district has promoted various social economy policies and projects in cooperation with the local community, including the opening of the Social Economy Support Center, support for social economy enterprise spaces, and the creation of a social economy ecosystem.

In particular, the district established the Social Economy Division in 2019, solidifying its commitment to realizing the national agenda of "activating the social economy."

As a result of these efforts, the number of (preliminary) social enterprises has nearly doubled to 79 over the past two years, and the district successfully attracted the Social Campus On Seoul 2 Center, the 10th growth support center nationwide.

The district has also achieved remarkable results in various external evaluations, including winning the Best Local Government Award for Social Enterprise Promotion from the Ministry of Employment and Labor and receiving the Minister’s Award for three consecutive years in the Social Economy Activation category of the Regional Welfare Project Evaluation hosted by the Ministry of Health and Welfare.

Especially, the district has taken the lead in realizing a social economy in daily life where residents and the local community experience and grow the concept of social economy together. Related projects include the Regional Problem-Solving Social Venture Team Development Project, Dangsan-gol Living Commercial Area Development Project, Job Creation Resident Technology School, Open Our Neighborhood Store Artterior Support Project, Cooperative Living Project in Apartment Complexes, and Apartment Living Workshop Project.

In the video urging the enactment of the Basic Act on Social Economy, the district emphasized that it is time for everyone to join forces for the activation of a people-centered social economy and conveyed a message calling for the enactment of the Basic Act.

Chaehyunil, Mayor of Yeongdeungpo District, stated, “The social economy, which realizes social value alongside economic profit, has steadfastly supported our neighbors such as small business owners in alleys, young artists, and residents of apartment complexes amid COVID-19. We will gladly contribute to building a warm and strong Republic of Korea through the activation of a people-centered social economy.”

The video can be viewed on the YouTube channel “National Social Solidarity Economy_Local Governments Council.”