Page 123 - Social Enterprise A New Business Paradigm for Thailand

3.4.3 The Fourth Master Plan for the Promotion of Social Enterprises (2023–2027)

South Korea’s Fourth Master Plan for the Promotion of Social Enterprises, enacted in September
2023, outlines strategic directions for supporting social enterprises over the next five years. The
88
key components are summarized as follows:
(1) Reforming the social enterprise support system by linking social value evaluation with
government support. The plan calls for a paradigm shift in support policies to foster creativity,
innovation, and sustainability among social enterprises. Social value assessments will be
connected to procurement and tax benefits. Additionally, the plan mandates disclosure of

management information, implementation of online and offline monitoring systems, and stricter
transparency and accountability measures in financial support to build public trust.

(2) Expanding social services and diversifying social enterprises. The plan promotes the provision
of social services that the government cannot sufficiently supply, such as childcare, elder care,
nursing, and domestic help, by encouraging social enterprises to take the lead. It also emphasizes
support for creative and innovative social enterprises that tackle pressing societal challenges.

(3) Supporting the sustainable growth of social enterprises through quality-focused assistance.
This includes increasing support for capable and scalable social enterprises to help them grow
sustainably. Measures include expanding market access for products and services, attracting

investment, improving access to public funding, integrating support organizations’ efforts, and
establishing a high-quality support system.

Since 2011, South Korea has been developing the Social Value Index (SVI), which was officially
introduced in 2017 and initially piloted in 53 projects. The SVI was fully implemented in 2018 for
projects receiving government support. Measuring the performance of social enterprises using
the SVI has enhanced their credibility and strengthened their networks with external
organizations.

In addition, the SVI has been linked to various benefits, such as procurement rights and eligibility
to participate in both government and private sector programs. This is aligned with the
“Guidelines for Priority Purchase of Social Enterprise Products,” announced in January 2024 and
effective from 2025 onward (based on evaluation results from 2024). Social enterprises that
receive an “Excellent” or “Good” rating will have their names publicly recognized to promote their
eligibility for government procurement. Their outstanding performance will be showcased in
designated sections of the e-store 36.5 platform, managed by the Korea Social Enterprise

88 Korea Social Enterprise Promotion Agency, Social Enterprise in Korea, Source: https://www.socialenterprise.or.kr
90