Rotok "Created 1 Billion KRW in Social Value Last Year... 2.7 Billion KRW Over 5 Years"

Steadily Increasing Over the Past 5 Years
Receiving 180 Million Won Incentive from This Result

Law & Company, which operates the legal platform 'LawTalk,' announced on the 10th that the total social performance converted amount created last year was approximately 1.027 billion KRW, according to the '2022 Social Performance Incentive (SPC) Measurement' results by the Center for Social Enterprise Studies (CSES).

Law & Company's social performance converted amount has steadily increased over the past five years. It started at 160 million KRW in 2018, then recorded 210 million KRW in 2019, 530 million KRW in 2020, and 780 million KRW in 2021. The total of these amounts reaches 2.7 billion KRW.

The Social Performance Incentive project, which began in 2015, is a program that converts social performance created by social venture companies into monetary value and provides cash incentives proportional to it. Through this result, Law & Company will receive a direct reward incentive of about 180 million KRW.

'Social performance' refers to the additional outcomes created by a company in solving social problems directly through its business compared to similar alternatives in the market, and it means outcomes that have not been compensated by subsidies or other support. The measurement is conducted by CSES, a non-profit research foundation established with investment from SK.

A CSES official explained, "The purpose of the Social Performance Incentive is to measure and reward activities that provide valuable services or products to socially marginalized or vulnerable groups as performance," adding, "In the case of Law & Company, the opportunity to receive legal consultations was increased for vulnerable groups such as low-income people who have difficulty accessing and utilizing legal services, which was recognized as social performance contributing to increased social inclusion."

Kim Bonhwan, CEO of Law & Company, said, "As the public interest of LawTalk is proven every year through the Social Performance Incentive project, we will continue to make steady efforts to achieve higher performance."

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