Status of Social Economy Development in Seoul A Case Study of Seoul
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The Korean social economy has grown at a remarkable pace over the last few years, attracting attention from around the world. The number of social economy enterprises, of which there were a mere 501 as of the end of 2010, has multiplied exponentially since the enactment of the Framework Act on Cooperatives (FAC) in 2012, reaching 11,421 (including 1,506 certified social enterprises, 8,551 cooperatives, and 1,364 community enterprises) as of the end of 2015. In other words, the social economy in Korea, measured in terms of the number of actors and enterprises involved, has multiplied by over 22 times in less than five years since the Korean government began to provide policy support.