MCST Holds Meeting with Eight Culture-Sector Social Enterprises to Discuss Support Measures

[Financial News] Social enterprises in the performing arts, sports and travel sectors will share challenges from the field with the government and discuss ways to support their growth.
According to the Ministry of Culture, Sports and Tourism on the 1st, a meeting will be held that day at Sangyeonjae in Jung District, Seoul, with representatives from eight culture-sector social enterprises in attendance. The participating companies will share their business achievements and operational difficulties while offering their views on government support.
Inmusic Cooperative incorporates educational themes such as career guidance, reading and school-violence prevention into its traveling classical performances. Four Seasons Fair Travel operates trips that make use of local cultural resources, care-oriented travel for older adults and barrier-free travel for people with disabilities.
Social enterprises must be able to sustain their core businesses, such as performances and travel, in order to continue providing services for vulnerable groups. That is why support for social enterprises should consider both public-interest achievements and corporate sustainability.
The MCST minister's commendation will also be presented at the meeting to Busanjin-gu Sports Club, which was selected as an outstanding company. The club was recognized for expanding local sports welfare by providing athletic services for vulnerable groups, creating local jobs and establishing a development system for student athletes.
From that day through 6 p.m. on the 20th, MCST will also accept applications for designation as a "2026 prospective social enterprise specializing in culture, sports and tourism." The program has been in place since 2019 to foster social enterprises specializing in culture.
Companies whose primary purpose is to realize social value and that meet designation requirements, including those related to organizational structure and business activities, may apply through the Integrated Social Enterprise Management System. The results are scheduled to be announced in mid-December after document reviews, on-site inspections and deliberation by a review committee.
The designation period is generally three years. Designated companies receive benefits such as additional points in open calls for startup support programs in culture and the arts, sports, tourism and content, and become eligible for financial, management and market-access support programs from the Ministry of Employment and Labor.
Myung Soo-hyun, MCST director of cultural policy, said, "We plan to faithfully reflect the valuable opinions raised at this meeting in our policies and expand institutional support so that more companies can realize social value and grow."

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