413 social enterprises generate W47.9b in social value through care, meal services

A total of 413 social enterprises across 15 cities and provinces nationwide generated about 47.9 billion won ($35.7 million) in social value through services such as meal programs for the elderly and community care, according to the Ministry of Employment and Labor.

The ministry calculated the results under its Social Value Creation Activation Project, or SVC, introduced this year for the first time, and determined about 6.8 billion won in incentives proportional to each enterprise's performance.

The ministry and the Korea Social Enterprise Promotion Agency announced the first-year results Thursday, a day after unveiling them at the 2026 Social Value Value-Up Day held Wednesday at Ferrum Tower in Jung-gu, Seoul. The SVC program converts social outcomes — achievements difficult to capture in standard financial statements — into monetary values and provides incentives based on performance.

Welfare Union, which provides customized meal services for the elderly, was credited with 2.09 billion won in social value, while Dounuri, a social cooperative running integrated community care services, received recognition for 1.85 billion won. Miracle Age AI, which develops AI-based education and care services including interactive kiosks tailored for older adults, was assessed at 670 million won. All three received the minister of employment and labor award. In the local government category, Gyeonggi Province — where 64 enterprises participated and generated 15.99 billion won in social value — also received the minister's award.

At the inaugural Social Value Business Model Competition held the same day, Elta took the grand prize and 15 million won in prize money for a model proposing to expand professional laundry services and clothing stain-removal product manufacturing to create sustainable jobs. Forty-two companies rated "excellent" or "outstanding" in the Social Value Index evaluation entered the competition, and 10 advanced to the final round.

LC Ventures, which makes bags and other fashion products from leather alternatives derived from discarded textile fibers, won the top prize of 10 million won. Bel Abel Farm, which pursues overseas expansion of functional cat food made from surplus agricultural products and seafood harvested by Jeju haenyeo, and Hilbing Care, which provides reservation-based transportation and accompaniment services for people with mobility difficulties, each received an excellence award of 5 million won. Six companies, including Deo Naajim, received encouragement awards of 2.5 million won each.

A public audience panel also participated in the final judging. The ministry and the promotion agency plan to connect winning enterprises with investors and networking opportunities, and to give them priority selection in next year's investment capacity-building support program.

"Creating social value and growing as a business are not separate goals," Vice Minister Kwon Chang-jun said. "The government will strengthen fair evaluation and compensation for social value, and support the sustainable growth of social enterprises through stage-by-stage assistance."