Village Enterprises
Village Enterprise is the enterprising activities founded upon a village community aiming both to solve and satisfy the local’s problems and needs. It also contributes to actualize the ideals and values of a village community. Since Village Enterprise is based on the principles of democratic operation and cooperative value system, it also makes use of the natural/human resources, artificial products, culture and other resources (both visible and invisible) that were locally characterized so as to create the jobs with a stabilized amount of income.
 
Three main characters of village enterprise
Korean social enterprises are classified into 5 categories according to the social purposes.

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 Inevitability: Village enterprise primarily aims to resolve regional problems and to fulfill the local needs.
Self-reliance: Village enterprise has to put a great deal of effort to stabilize the business in order to survive even after the scale of support contracted.
Public concern: Village enterprise is seeking to enlarge the realization of social value and public interest among the local villager.
 
Requirements for establishing village enterprise in Seoul
Korean social enterprises are classified into 5 categories according to the social purposes.

1)
2)
3)

4)

Principles of cooperative has to be applied
Has to be formed with people from a group of at least five persons
Village enterprise has to commence accumulating 1% of its revenue since after a year of operating business into a regional development fund on a quarterly basis.
Once Village enterprise is established, its registration should independently be done through platform system (se.seoul.go.kr)
 
Four steps to promoting village enterprise in Seoul
Korean social enterprises are classified into 5 categories according to the social purposes.

1)

2)

3)

4)

Incubation program: It is not only aiming to build positive working relationship within local village but is also to endow the incubator with the responsibility to directly support the local area.
Frequent registration program: It is designed to enhance the private autonomy in terms of registering and publicizing its business through platform system.
Step supports program: It broadened its range of support and now the program is not only helping the village enterprise in which the business is experiencing initial challenges during the founding process but also providing guidance at the business planning and development stage.
Platform system and Local development fund: The primary purpose of providing such programs is to build a sense of community and fellowship among the local residents as well as stimulating the private autonomy in relation to support its village enterprise.