Seongdong-gu Operates On-site Case Academy Reflecting Voices of Social Economy Entrepreneurs

Composed of content introducing social enterprise creation stories based on personal experiences of company CEOs

Exterior view of the Social Economy Support Center

[Asia Economy Reporter Jongil Park] The Seongdong-gu Social Economy Support Center, located in Seongdong-gu (Mayor Jeong Won-oh), has started operating the ‘Field Case Academy’ (hereinafter referred to as the Academy) from this month, which captures the vivid voices of social economy entrepreneurs.

The Academy is a lecture series designed to be easily accessible to anyone interested, featuring topics on social economy organizations and introducing the creation stories of social enterprises based on the personal experiences of related individuals.

The program includes sessions with representatives from social economy companies such as ‘Beardventure,’ ‘Doseochulpanjeomja,’ ‘ComingBee,’ and ‘Gatda,’ sharing necessary social values and solutions related to socially emerging issues in fields like environment and welfare.

Additionally, cases from experts in various fields are shared, including ‘local culture revitalization content’ created through perception shifts by combining historical content and games, and the role of parents requiring ‘self-management’ before child education.

Previously, live case lectures by social economy entrepreneurs such as Lee Young-pyo, CEO of YP12 (former national soccer player), received high acclaim. Related videos are continuously broadcast through separate channels, and the center plans to regularly operate various programs such as education and networking for social enterprise workers, aiming to increase residents’ familiarity and understanding of social economy organizations.

Since 2014, the district has been leading with the enactment of the ‘Seongdong-gu Social Economy Activation Fund Establishment and Operation Ordinance,’ the first in Seoul. In 2017, the Social Economy Support Center was opened, providing office space and tailored educational programs. Through various support bases and private capital matching, a fund of 1.783 billion KRW has been raised to date, with 1.133 billion KRW loaned to 23 companies, demonstrating pioneering ordinance enactment and policy implementation.

As of the first half of this year, the scale of social economy organizations reached 274, an increase of about 193% compared to 2017, and the district has achieved the distinction of being the only local government nationwide to receive the ‘Excellent Local Government for Social Enterprise Promotion’ award for three consecutive years.

Moreover, social economy organizations, including social venture companies that began settling one by one in Seongsu-dong in the early 2010s, have now grown to about 430, forming the largest ‘Seongsu-dong Social Venture Valley’ in the country. This well-established social venture ecosystem laid the foundation for the inclusion of the social venture concept in the ‘Special Measures Act on Fostering Venture Businesses’ on May 21 last month.

Jeong Won-oh, Mayor of Seongdong-gu, stated, “The social economy, which pursues public interest and the realization of social value, is the key to overcoming the crises we face. Through the Seongdong-gu Social Economy Support Center, now in its fifth year since opening, we will make social value realization more familiar and accessible in daily life.”