SK Provides 71.1 Billion KRW Incentives to Social Enterprises Over the Past Decade

SK Group has been revealed to have paid 71.1 billion KRW in cash incentives to domestic social enterprises over the past decade.

On March 21, at the Korea Chamber of Commerce and Industry (KCCI) temporary general assembly held in Seoul, Chairman Choi Tae-won, who was reappointed as the 25th chairman, is delivering a greeting. Photo by Heo Young-han younghan@

According to the Social Value Research Institute (CSES), a nonprofit research foundation established by SK Group, since the launch of the Social Performance Incentive Project (SPC), 448 social enterprises have created a total social value of approximately 495.7 billion KRW, and SK has paid 71.1 billion KRW in cash incentives to social enterprises.

The SPC project is a program that provides cash incentives proportional to the amount of social problems each social enterprise solves. It is a method proposed by SK Group to encourage companies to improve business performance while solving more social issues. When companies solve social problems through their business, they receive rewards proportional to their efforts, and by utilizing these rewards, companies build a 'virtuous cycle' to solve even more social problems.

CSES plans to hold a session on social value performance-proportional rewards, explaining the SPC project and others, at the '1st Korea Social Value Festa' to be held on the 12th at COEX in Gangnam-gu, Seoul.

Na Seok-kwon, CEO of the Social Value Research Institute, said, "The era when people cared about how much companies spent to solve social problems is over," adding, "Public interest will shift to companies that effectively achieve and prove social problem-solving outcomes."