Public Institutions Purchased 1.6 Trillion KRW Worth of Social Enterprise Products Last Year

Ministry of Employment and Labor. Photo by Hyunmin Kim kimhyun81@

[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Employment and Labor announced on the 28th that the purchase amount of social enterprise products by public institutions last year was recorded at 1.6225 trillion KRW. This is a 26.5% increase from 1.2829 trillion KRW the previous year.

The ratio of social enterprise product purchases to the total purchase amount of goods and services by public institutions last year also slightly rose to 2.85%, up from 2.50% the previous year.

Social enterprises refer to companies that pursue social values such as creating jobs for vulnerable groups.

In accordance with relevant laws, the Ministry of Employment and Labor discloses the performance such as purchase amounts every year to promote the purchase of social enterprise products by public institutions.

Hwang Bo-guk, Director General of the Integrated Employment Policy Bureau at the Ministry of Employment and Labor, said, "Despite COVID-19, we plan to continue supporting the promotion of social enterprise product purchases by linking product information from the Social Economy Market Support Integrated Platform to regional and private online malls to provide practical help to social enterprises."