South Korea, China Advance Social Enterprise for Economic Impact

South Korea and China are demonstrating how social enterprise can reshape economies. These nations integrate social impact with commercial goals, creating significant economic activity. Approximately 10 million social enterprises globally generate around $2 trillion annually. Government policies and corporate strategies are key to scaling these ventures. South Korea supports its social enterprises through dedicated agencies and programs. The Social Progress Credit program, for example, has verified over $360 million in social value. This focus aids small and medium-sized businesses and startups in developing their social impact models. In China, large corporations are embedding social values into their operations. Tencent's Sustainable Social Value organization uses WeChat to boost charitable giving and social impact initiatives. This platform has increased donations and proved vital during health crises, improving survival rates. As traditional funding faces limitations, both countries highlight social entrepreneurship's role in building sustainable economies. This approach fosters inclusive businesses that achieve financial success while addressing social and environmental needs, altering the economic landscape.