Gwangju City Establishes and Implements the 3rd Social Economy Revitalization Support Plan

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the afternoon of the 29th that it held the ‘Social Economy Activity Support Committee’ at the city hall small conference room to review the 3rd Social Economy Revitalization Support Plan.

This support plan aims to establish a sustainable Gwangju social economy ecosystem by investing 39.2 billion KRW by 2023, including 6 strategies, 13 major agendas, and 28 key projects.

Gwangju City plans to prepare and implement an annual execution plan through 2023.

The 13 major agendas include ▲completion of a cooperative governance system ▲expansion of incentives for socially responsible procurement by public institutions ▲promotion of Korean New Deal community problem-solving pilot projects ▲establishment of a Gwangju social consumption promotion system ▲creation of a Gwangju social economy fund, among others.

Regarding the main contents, to complete the cooperative governance system, Gwangju City will operate the Gwangju Social Economy Public-Private Governance Council and the Social Economy Collaboration Team to discover policies centered on local specialized demand, and expand incentives for excellent public institutions in socially responsible procurement to broaden market channels for the social economy.

Concerning the promotion of Korean New Deal community problem-solving pilot projects, a green new deal social economy model to overcome the climate crisis will be discovered, and a social economy care model operated on-site by social safety net experts and social economy enterprises will be developed to address blind spots in the social safety net.

Additionally, to promote Gwangju social consumption, a campaign to stimulate consumption of social economy products will be held in conjunction with the ‘3rd Korea Social Economy Expo’ in July, creating an atmosphere where citizens contribute to solving social problems by purchasing products from social economy enterprises.

Furthermore, to secure resources necessary for fostering, developing, and stabilizing the management and operation of social economy enterprises, a task force for establishing a social economy fund will be formed, and discussions on self-help funds organized by social economy stakeholders will be conducted.

Jo In-cheol, Deputy Mayor of Culture and Economy, stated, “After COVID-19, the role of the social economy in sharing jobs and hope with socially vulnerable groups and returning profits to the local community to realize a virtuous cycle economy is important,” adding, “We will continue to strive to create an ecosystem where competitive social economy enterprises can sustainably grow.”

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