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| Social enterprise?
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| An enterprise/organization which does economic activities, prioritizing the achievement of social purposes |
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| 1. Social purposes
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Providing jobs or social services to vulnerable people
Developing local community and promoting public interests
Democratic decision-making system with participation of every stakeholder
Reinvestment of extra profits/income for achieving social goals |
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| 2. Business activities |
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Diverse forms of organizations (non-profit cooperate bodies, associations, cooperatives or
companies) are recognized as social economic actors
Employment of salaried workers
Income through business activities should be more than 30% of personnel expenses |
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| 3. Creation of social values |
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Traditional non-profit organizations
Non-profit organizations
Company with cooperative social responsibility
Traditional firms |
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The normative concept of social enterprise
(Article 2 of the Social Enterprise Promotion Act) |
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A company which does business activities like production or sales of commodities and services and at the same time, pursues the social purpose of improving the quality of life in communities through creating jobs or offering social services to vulnerable groups.
A firm that reinvests its profit in their own business or local community rather seeks profit maximization for its stakeholders or owners.
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| 4. Types of social enterprises |
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| Korean social enterprises are classified into 5 categories according to the social purposes. |
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Job Suppliers: The main purpose of the organization is providing jobs to vulnerable groups
Social Service Providers: The main purpose of the organization is offering social services to vulnerable groups
Mixed players: Job supplier + social service provider
Other players: Companies whose ways of achieving social goals are hard to be defined with employment ratio or social service offering ratio.
Community Contributors: Firms which contribute to improvement of local people's quality of life (Newly established in 2011) |
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| 5. Building sustainable economy and social integration through promotion of social enterprises |
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| Korean social enterprises are classified into 5 categories according to the social purposes. |
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Providing sustainable jobs
Community vitalization
Expanding social service |
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- With the rising influence of social enterprise, the number of employees has been also increased.
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The average number of salaried employees in one social enterprise is 24.1 |
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