Incheon City Exceeds Last Year's Target Purchase Rate for Social Economy Enterprise Products

Incheon City is taking the lead in promoting environmental friendliness and social value by increasing the purchase of products from social economy enterprises.

On the 16th, the city announced that the purchase rate of social economy enterprise products in the Ministry of the Interior and Safety's national evaluation, which did not meet the target in 2023, is expected to exceed the target in 2024.

In the Ministry of the Interior and Safety's national evaluation, the public institution priority purchase rate indicator related to social economy enterprises consists of three categories: village enterprises, social cooperatives, and (certified/preliminary) social enterprises.

The target for this indicator is set based on the average purchase rate over the past three years, including districts and counties. As of the end of last year, Incheon City was tentatively estimated to have achieved target rates of 253% for village enterprises, 166% for social cooperatives, and 135% for social enterprises. In particular, although social cooperatives did not meet the target in 2022 and 2023, they are expected to exceed the target by more than 60% last year.

Incheon City Hall Exterior View

Last year, the social economy sector faced various difficulties such as promoting social enterprise products and securing sales channels due to changes in government policies and budget cuts. In this situation, Incheon City’s achievements are analyzed to be the result of efforts such as hosting the privately-led '1st Incheon City Social Economy Expo,' visiting public procurement, and supporting corporate business development expenses through ESG (Environmental, Social, and Governance) cooperation with public institutions like Incheon Port Authority.

Additionally, as a result of these efforts, the Social Economy Sales Center operated by Incheon City (Sangsaeng Distribution Support Center The Damji) achieved sales growth exceeding 50%, increasing from about 400 million KRW in 2023 to approximately 700 million KRW last year.

An official from Incheon City stated, "The exceeding purchase rate of social economy enterprise products is the result of joint efforts by the city, districts and counties, and the private sector despite difficult circumstances," adding, "We will do our best this year as well to revitalize the sales of local social economy enterprise products."

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