Social economy refers to the economy system for various subjects such as social enterprise, co-op, self-supported enterprise, town enterprise, etc., created on the foundation of cooperation and reciprocity to realize social values including improving the quality of life, overcoming poverty and alienation, etc. In early January 2014, the Seoul Metropolitan Government developed and cultivated 1,503 social economy organizations including 425 social enterprises, 967 co-ops, and 111 town enterprises. Not only did we achieve quantity growth; we also focused on the transition of the social economy policy paradigm, providing solid foundation for the formation of a social economy ecosystem.
What’s a Seoul-type social enterprise?
Seoul-type social enterprise is a potential social enterprise that works with the goal of providing social service with high growth possibilities and profit making as well as realization of social goals but has yet to meet the certification conditions of the employment/labor department.
