500 New Social Enterprises Certified... 62,000 Employed Across 3,200 Enterprises

by Moon Chaeseok

Published 29 Dec.2021 18:28(KST)

Last Year's Sales 5.3 Trillion Won... 9.9% Increase from the Previous Year

A social enterprise representative visiting a household vulnerable to housing insecurity to conduct disinfection and sterilization. (Photo by Asia Economy DB)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Employment and Labor announced on the 29th that it will hold the 6th Social Enterprise Promotion Committee on the 30th to certify new social enterprises and report on the analysis of last year's performance.

Due to COVID-19, this committee will be held in writing, and 80 organizations including Ieum Development Support Center, SJC Korea, Lee Yeon Psychological Counseling Support Center, and Art Station will be newly certified as social enterprises. Including these companies, the total number of social enterprises certified this year will increase to 500. The number of workers employed in social enterprises increased by 7,218 this year. The number of newly certified social enterprises and the scale of hired workers have expanded at the largest rate in the past five years since 2017.

Social enterprises are companies that pursue social objectives such as providing jobs to vulnerable groups while engaging in business activities such as the production and sale of goods and services. As of the end of this year, there are 3,215 social enterprises in total, employing 61,877 people. Among them, 59.2% (36,605 people) are vulnerable groups such as the elderly, disabled, and low-income individuals. The total sales of social enterprises last year amounted to 5.2939 trillion won, an increase of 9.9% compared to the previous year. Social enterprises reinvested 181.4 billion won last year in improving working conditions, contributing to local communities, and establishing facilities to expand employment.

Kim Youngjoong, Director of Employment Policy at the Ministry of Employment and Labor, said, "Social enterprises play a significant role in solving social problems such as supporting vulnerable groups," and added, "The government will expand support for the growth of social enterprises."