Preparations Begin for Implementation of the Framework Act on Social Solidarity Economy

[Financial News] Preparations for implementing the Framework Act on Social Solidarity Economy, which passed the National Assembly of the Republic of Korea last month, are gaining momentum. The government will bring together local governments and field support organizations to discuss regional policy implementation plans and follow-up measures.
The Ministry of the Interior and Safety said it will hold the “Social Solidarity Economy Policy Workshop for Local Governments and Field Officials” for two days starting on the 7th at Camphor Tree Hotel & Resort in Jeju Province. About 160 officials from local governments nationwide and intermediary support organizations, including Social Solidarity Economy Support Centers, will attend.
The workshop is intended to prepare for the implementation of the Framework Act on Social Solidarity Economy, which passed the plenary session of the National Assembly of the Republic of Korea on August 20. A legal foundation has been established to pursue social solidarity economy policies—previously advanced under various laws and by individual ministries—in a comprehensive manner at the national level. The government is now preparing to translate those policies into action in local communities.
The government is working on follow-up measures, including subordinate statutes needed to implement the Framework Act, while also strengthening the policy capabilities of local governments and field organizations. Local governments will design policies suited to their regional characteristics and conditions. Intermediary support organizations will connect local needs and difficulties with policy, supporting the growth of social solidarity economy enterprises and the creation of self-sustaining ecosystems.
On the first day of the workshop, the 7th, participants will share the significance of enacting the Framework Act and the direction of future follow-up measures. Discussions will cover the “Comprehensive Plan for the Development of the Social Solidarity Economy” announced by relevant ministries in June, the role of the social solidarity economy in responding to regional depopulation, and strategies for creating self-sustaining ecosystems through social solidarity economy finance.
Cases of social solidarity economy revitalization in South Chungcheong Province, Gwangmyeong City, and Ganghwa County will also be shared. On the 8th, participants will visit local sites in Jeju Province, including the Jilgeuraengi Gujwa Hub Center, where a residents’ cooperative converted an unused village space into a workation facility and lodging, as well as Sehwa Village, which was selected as one of the Best Tourism Villages by UN Tourism in 2023.
Kim Min-jae, vice minister of MOIS, said, “From the initial stage of preparing for the Framework Act’s implementation, we will communicate and cooperate closely with local communities to ensure that people can experience the changes brought by the social solidarity economy in their daily lives.”


[email protected] Lee Bo-mi Reporter