The Ministry of SMEs and Startups said on the 23rd that it held a roundtable to revitalize the social venture ecosystem at KT&G Sangsang Planet in Seongsu-dong, Seongdong-gu, Seoul.
Presided over by Minister Han Seong-sook, the roundtable was prepared to discuss difficulties faced on the ground and policy proposals with social venture corporations' representatives, social venture investment firms, and officials from social venture support organizations.
Before the official start of the roundtable, Minister Han said in her greeting, "Social venture corporations, based on creative ideas and sustainable revenue models, innovatively solve social problems and are agents of change that realize social value," adding, "To revitalize the social venture ecosystem, we will reflect on-the-ground opinions to strengthen the institutional foundation and work to expand support for social ventures."
At the roundtable, various opinions were presented on plans such as activating investment by overhauling the social venture determination criteria to reflect global standards; fostering region-based social ventures linked to local economies; and expanding support in areas including research and development (R&D), startup and growth, and finance.
Minister Han said, "Along with the spread of awareness of social ventures, the MSS will continue to listen closely to voices from the field so that social ventures can create social value and become new hope for our society."