Over 3,000 Social Enterprises... Employment and Wages Increase Despite COVID-19

Ministry of Employment Certifies 97 Social Enterprises, Totaling 3,064
66.5% Provide Jobs... 6,344 Employed During COVID Period, Average Wage Increased by 5.8%

[Sejong=Asia Economy Reporter Moon Chaeseok] Social enterprises primarily supporting jobs for vulnerable groups such as the elderly and disabled have surpassed 3,000 locations 14 years after their first establishment. Despite the COVID-19 crisis, employment increased by over 6,000 people and wages rose by 5.8%.

The Ministry of Employment and Labor held the Social Enterprise Promotion Committee meeting and announced on the 8th that 97 social enterprises were newly certified. Since the social enterprise certification system was first implemented in 2007, the total number of social enterprises has reached 3,064. By enterprise type, job provision type accounted for 66.5%. According to the Ministry of Employment and Labor, with the recent increase in community contribution types, social enterprises are having a greater impact on solving local community issues such as jobs, welfare, urban regeneration, and care.

Looking at the overall performance, as of last year, employment increased by 6,344 people, and average wages rose by 5.8%. The number of employed vulnerable groups such as the disabled, elderly, and low-income earners increased by 10.4% year-on-year to 33,206 people. Sales reached 5.2939 trillion KRW, up 9.9% from the previous year. Private sector sales amounted to 2.9988 trillion KRW. The survival rate within five years of establishment is 79.7%.

Among those certified in this evaluation, LAR is the first domestic company to produce and sell eco-friendly products such as bags made from domestically sourced recycled plastic yarn. Hayosalrong Cooperative is a cooperative consisting of small-scale and elderly farmers and employs a large number of migrant women. Deuldabang Co., Ltd. was established to support night school students and operate a cafe within the Nodeul Disabled Night School, and Flower Lump Co., Ltd. is a company that supports psychological stability by providing horticultural experiences to residents in the Gangwon region.

Companies or organizations wishing to apply for social enterprise certification can receive consultation at integrated support centers in 16 metropolitan local governments and submit their application through the Social Enterprise Integrated Information System.