Seven Agricultural and Rural Preliminary Social Enterprises Newly Designated... Rural Care, Joint Production of Local Produce

Developing resident-led, mutually beneficial models
Eligible to participate in financial support programs for three years
Linked to tailored consulting and market access support, among other programs

Seven new agricultural and rural preliminary social enterprises have been designated for developing resident-led, mutually beneficial models, including rural care and the joint production of local agricultural products. The enterprises are eligible to participate for three years in financial support, loan and investment, and market access support programs.

On October 23, the Ministry of Agriculture, Food and Rural Affairs announced the designation of seven new agricultural and rural preliminary social enterprises that will work to address gaps in rural care, a shortage of jobs, and stagnant farm incomes while putting community values into practice.

A ministry official explained, "What distinguishes the newly designated enterprises is that, beyond creating social value at the individual enterprise level, they aim to bring about change across rural communities by working closely with a wide range of local stakeholders and to build sustainable, mutually beneficial models based on solidarity and cooperation."

Ugok Bombom Social Cooperative, located in Goryeong, North Gyeongsang Province; Kkotdam, an agricultural corporation in Hamyang; and Ondo Farm, an agricultural corporation in Gimje, North Jeolla Province, are cited as leading examples of enterprises that secure needed resources from the central and local governments, welfare institutions, and relevant local organizations to expand care services for vulnerable groups. They also actively address gaps in rural welfare by strengthening coordination among institutions and public-private governance.

Agricultural corporations Ageosae in Yeongju and Goseonwon in Suncheon, which create local jobs and seek to increase farm incomes by using local agricultural products, have established joint production and sales systems centered on producers with limited competitiveness. They serve as key hubs for improving competitiveness through cooperation and building mutually beneficial local economies.

Jeon Hanyeong, Director General for Rural Policy at the Ministry of Agriculture, Food and Rural Affairs, said, "The newly designated enterprises are key players who go beyond simply pursuing profit and put the values of mutual benefit into practice on the ground, based on reciprocity and solidarity. We expect them to play a positive role in maximizing the value of rural areas and making them places where everyone wants to live."

In 2012, the Ministry of Agriculture, Food and Rural Affairs introduced the Agricultural and Rural Preliminary Social Enterprise Designation System to foster outstanding social and solidarity economy enterprises that use rural resources, including agricultural production and distribution, rural tourism, and care services, to create jobs for residents and improve welfare. To date, a total of 215 preliminary social enterprises have been designated, of which 53 have been certified as social enterprises and are operating as such.

Preliminary social enterprises are eligible to participate in financial support, loan and investment, and market access support programs administered by the Ministry of Employment and Labor and the Korea Social Enterprise Promotion Agency, among others. They can also receive systematic support through the Promising Enterprise Step-Up program to strengthen their competitiveness in stages and achieve sustainable growth.

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