'Social Value Festa' Proposed by SK Chairman Chey Tae-won Concludes with 10,000 Participants

Over 10,000 Participants from Local Governments and Corporations
Expanding the Social Value Ecosystem through Citizen Engagement

SK announced on the 27th that the 'Social Value Festa (SOVAC) 2025', held under the theme of 'Designing a Sustainable Future' at COEX in Gangnam-gu, Seoul, concluded with over 10,000 participants. This year’s event brought together around 180 SOVAC partner organizations, including private companies such as SK Hynix, SK Telecom, Hyundai Marine & Fire Insurance, and Kakao Impact, as well as academia, government, and public institutions. Notably, university students and representatives from Japanese social enterprises also took part, demonstrating the potential for expanding the social value ecosystem.

'SOVAC 2025' was held from the 25th to the 26th at COEX in Gangnam-gu, Seoul, attracting over 10,000 attendees and achieving great success. Citizens are seen exploring the booths. Photo by SK

Launched in 2019 at the suggestion of SK Group Chairman Chey Tae-won, SOVAC has, over the past seven years, been recognized for significantly contributing to the activation and self-sufficiency of the ecosystem by supporting impact investment in social enterprises and social ventures, and by helping them develop new markets for their products and services.

In his video keynote address on the first day, Chairman Chey stated, "In order for us, who are facing complex social issues, to create sustainable solutions, a transformation in thinking and structure is necessary." He emphasized, "Solving social problems cannot be done by the government alone; companies, civil society, and academia must all take the lead in participating." He further proposed, "It is necessary to shift to a structure where companies, organizations, or individuals that achieve results in solving social problems receive more opportunities and rewards. Let us establish a system to accurately measure the current status and outcomes of social issues and institutionalize a performance-based reward structure."

This year, the inaugural competition 'SK Telecom FLY Artificial Intelligence (AI) X SOVAC Challenger' was held, where 66 university students teamed up with social enterprises to propose AI solutions addressing social issues such as resource circulation, aging, and accessibility for people with disabilities. The grand prize went to the 'FEELINK' team, which was highly praised for presenting a solution that enables visually impaired individuals to receive voice guidance for images on mobile apps.

Sessions were also held to discuss global cooperation strategies for creating social value. In a session on 'Korea-Japan Impact Investment Cooperation', stakeholders from both countries’ social value ecosystems gathered to share experiences and best practices, and to discuss practical ways to collaborate. In particular, participants agreed that the two countries, which face similar social challenges such as low birth rates, aging populations, and youth unemployment, should strengthen cooperation by developing collaborative models between the public and private sectors.

Motoy Kawabata of the Japan Social Innovation and Investment Foundation said, "Japan is currently in the stage of verifying the potential of impact investment as a means to solve social problems, as the sector continues to grow. Korea, on the other hand, has experience in nurturing various impact startups. Since both countries face similar social issues, we look forward to cooperation between Korea and Japan in solving these problems."

This year, easily accessible programs such as markets, bazaars, and donation initiatives were also organized, drawing interest and participation from citizens. At the market and sales booths, more than 50 social enterprises sold products to the public and held a bazaar to donate proceeds to children in need of meals. During the event, a total of 27,000 people participated in the donation platform 'Kakao Together Value', supporting causes such as children's meals, youth education, environmental issues, and school violence prevention. The total amount raised reached 30 million won.

A SOVAC representative stated, "Over the past seven years, SOVAC has established itself as Korea's leading social value platform, expanding participation not only among diverse stakeholders in the social enterprise and social venture ecosystem but also to future generations and globally. Going forward, we will continue to create spaces for communication and cooperation so that more people can join efforts to solve social problems."