Issue/WT Notices2012.06.07 11:43

[Social Enterprise News in Korea]

2. President LEE Myung-bak said, “For social enterprises, sustainable growth is more important.”

“It is better not to make a presidential council and appropriate for religious groups to be involved” at the National Economic Measures Meeting.

Source: Edaily

On June 9, 2011 President LEE Myung-bak emphasized the importance of social enterprises’ sustainable growth, as well as the need to focus on developing existing enterprises rather than creating new ones.

Speaking at the National Economic Measures Meeting held at Hanbit Arts in Suyou-Dong, Seoul, the president said that making social enterprises sustainable over 5 to 10 years is important.

▲ Photo=Blue House Photo Reporters

He also added, ”When the government stops support, social enterprises may not be able to sustain themselves. There can also be problems if these enterprises are corrupted to make their financial sustainability.” “It’s appropriate for religious groups to be involved.”

The president said, “Establishing a council for social enterprise may make it look as though officials are working, but in fact they are not. Consider methods that are more practical.” He added that it was better not to make a presidential council.

He also explained that it is important to make a council for practical use rather than just for networking. He said private entities should play the main role and the government should consider more institutional roles.

“It’s remarkable that a third of the people already know about social enterprises despite the movement being in its early stages. It is more important now as these enterprises are moving toward their growth stage,” he said.

MOON Young-jae Reporter jtopia@

Translated: by CHOI Eun-young, JANG Gyeong-ah

Edited: by Patrick Ferraro, Marie LEE

Posted by hamkke