Why Did Seongbuk-gu's 'Social Economy Products Priority Purchase Disclosure System' Succeed?

7 Consecutive Years of Exceeding Targets Since the 2013 Implementation of Seongbuk-gu Social Economy Product Priority Purchase Disclosure System... Total Purchases in 2019 Reached 7.54 Billion KRW, Surpassing Initial Goal by 125.7%

[Asia Economy Reporter Jong-il Park] Seongbuk-gu (Mayor Lee Seung-ro) is practicing social economy through the ‘Social Economy Products Priority Purchase Disclosure System.’

The ‘Social Economy Products Priority Purchase Disclosure System’ was established and implemented by the district in 2012 through the ‘Ordinance on Promotion of Purchase and Market Support for Social Economy Products.’ It requires public institutions to prioritize purchasing social economy products when buying goods, services, or supplies, and to disclose purchase plans and results on their website.

At the beginning of the implementation, the purchase amount of social economy products was only 600 million KRW annually, but after remarkable growth every year, last year it exceeded the target of 6 billion KRW and achieved 7.54 billion KRW, surpassing the goal by 125.7%.

Thus, the district has achieved exceeding its target for seven consecutive years since the implementation of the Social Economy Products Priority Purchase Disclosure System.

The district cited the expansion of corporate sales channels as a representative factor for this increase, by enhancing information provision and demand predictability through the Social Economy Products Priority Purchase Disclosure System, the Village Community-Social Economy Festival, and the Northeast 4 Districts Public Purchase Expo.

Additionally, the number of social economy enterprises participating in Seongbuk-gu’s public purchase market has expanded from 150 to 158, indicating that the culture of continuous socially responsible procurement is spreading within public organizations.

Lee Seung-ro, Mayor of Seongbuk-gu, stated, “Social economy, which values social value, is important not only through direct subsidy support but also by providing opportunities for social economy enterprises to become self-reliant through public institutions’ purchase of goods and services.” He pledged, “We will continue to do our best to create a closer neighborhood where everyone can live well and coexist, and a happy Seongbuk through revitalizing the local economy including the social economy.”

This content was produced with the assistance of AI translation services.