Daegu partners with Interior Ministry, Shinhan Financial to expand social solidarity economy

Daegu city announced Thursday that it will invest 1 billion won ($655,000) — split evenly between national and municipal funds — to build a local social solidarity economy ecosystem after being selected as an outstanding model in the Ministry of Interior and Safety's program to discover and spread innovative social solidarity economy models.

Interior and Safety Minister Yun Ho-jung and Shinhan Financial Group Chairman Jin Ok-dong visited Ansim Village in Daegu's Dong-gu on Wednesday, the site of the social solidarity economy innovation model project, and signed a memorandum of understanding to promote the social solidarity economy.

Under the agreement, Shinhan Financial Group will invest a total of 2 billion won this year to support social solidarity economy organizations. In Daegu, four social solidarity economy companies — Daygreen, Eon-deueon, Saram Iyagi and Six F — were selected to receive a combined 312 million won in private-sector funding.

Daegu's social solidarity economy innovation model supports the expansion of citizen-participatory solar power plants, the development of a Daegu-style online public procurement platform and integrated logistics management system, and interest subsidies on loans for social solidarity economy enterprises — all aimed at energizing the local circular economy ecosystem.

Ansim Village in Dong-gu, where the event was held, is one of South Korea's most recognized community villages, known for residents taking the initiative to solve local problems on their own. Since its first step in 2008 with a children's library called Atti, the village has grown into a network of more than 20 social solidarity economy enterprises that work together to address life-cycle challenges in education, care, food and energy.

Following the MOU signing ceremony, Minister Yun, Shinhan Financial Group Chairman Jin and Daegu Deputy Mayor for Administration Kim Jeong-gi toured key social solidarity economy sites within Ansim Village — including Dungji Social Cooperative, a neighborhood bookstore cooperative and Ansim Cooperative — to review their operations and encourage workers on the ground.

Minister Yun and Chairman Jin then moved to Wagle Social Cooperative, where they took part in recording a station identification announcement for Daegu Dong-gu FM Community Radio. Participants afterward held a roundtable with those involved in Daegu's social solidarity economy innovation model to discuss ways to further promote the sector.

Daegu Deputy Mayor for Administration Kim Jeong-gi said the city would do its utmost to carry out the Daegu-style social solidarity economy innovation model project without a hitch this year, making it a model case for the social solidarity economy.