Jeonbuk Must Refine Policies Ahead of Framework Act on the Social Solidarity Economy Taking Effect

Provincial Council policy forum outlines challenges in ordinances, funding, and social finance
Discussion focuses on linking care services and expanding local jobs

Calls have emerged for Jeonbuk to strengthen the institutional foundation for its social solidarity economy policies and develop follow-up measures to link local jobs with care services ahead of the Framework Act on the Social Solidarity Economy taking effect.

Kang Jeonghui, a proportional-representation member of the Jeonbuk Special Self-Governing Provincial Council, held a policy discussion titled “Changes and Challenges in Jeonbuk Following the Enactment of the Framework Act on Social Solidarity Economy” in the Council’s second-floor members’ conference room on the 20th. The event was jointly organized with the Jeonbuk Social Solidarity Economy Association, chaired by Yang Chunje, and the Jeonbuk Special Self-Governing Province Economic and Trade Promotion Agency. Provided by the Jeonbuk Special Self-Governing Provincial Council.

Kang Jeonghui, a proportional representative member of the Jeonbuk Special Self-Governing Provincial Council, held a policy forum on October 20 in the council members' conference room, jointly with the Jeonbuk Social Solidarity Economy Association and the Jeonbuk Special Self-Governing Province Economic and Trade Promotion Agency. The forum was titled "Changes and Challenges in Jeonbuk Since the Enactment of the Framework Act on the Social Solidarity Economy."

The forum was organized to review Jeonbuk's related policies and discuss local-level responses, as the Framework Act on the Social Solidarity Economy, promulgated last September, is scheduled to take effect in March 2027. Key topics included revising relevant ordinances, securing budgets and funds, promoting social finance, expanding local care services, and strengthening the foundations for self-reliance among social solidarity economy organizations.

In his keynote address, Kim Gitae, head of the Korea Social Solidarity Economy Research Institute, stressed the need for local governments to revise ordinances and secure budgets and funds in preparation for the law's implementation. He said that relevant systems must be improved and the funding needed to carry out policies secured for the law to bring change to local communities.

Park Junhong, chair of the policy committee at the Jeonbuk Social Solidarity Economy Association, presented the policy direction for Jeonbuk's social solidarity economy, while Jo Yonghui, chair of the Social Finance Committee, presented challenges in promoting social finance.

Social finance refers to financing provided to businesses and organizations whose activities aim to create social value. The forum discussed ways to expand related policies, noting that social enterprises, cooperatives, and similar organizations need sustainable sources of funding and a financial infrastructure to support them in order to operate their businesses steadily.

The panel discussion was moderated by Lee Geunseok, former chair of the Wanju Social Economy Network, and included Kang Jeonghui, Go Seonmi, executive director of the Jeonju Medical Welfare Social Cooperative, and Lee Jaebae, chair of the Jeonbuk Social Enterprise Council.

Participants discussed ways to expand local social services and strengthen the foundations for self-reliance among social solidarity economy organizations. In particular, they addressed linking the expansion of local care services under the Care Integration Support Act with the participation of social solidarity economy organizations, as a way to provide residents with needed services and increase local employment.

Participants also discussed the need to strengthen both local governments' policy support and the business capabilities of community-based organizations so that social solidarity economy organizations can contribute not only to supporting individual businesses but also to addressing local issues involving jobs, care, and communities.

Kang Jeonghui said, "With the enactment of the Framework Act, a national foundation has been established to systematically foster the social solidarity economy. Jeonbuk must now prepare to turn this into tangible change in the region." She added, "We must develop it beyond support for individual businesses into an economic ecosystem that addresses local issues involving jobs, care, and communities."

She continued, "The challenges faced by people in the field will not automatically be resolved just because the law has been enacted. The provincial council will also work to establish the necessary institutional foundation so that the measures discussed at the forum, including ordinance revisions and ways to link social finance with care services, can become tangible policies in Jeonbuk."

This content was produced with the assistance of AI translation services.