The government will select 10 social solidarity economy enterprises that have excelled in generating social value and award them a combined 50 million won ($35,200) in prize money. Beyond identifying promising business ideas, the initiative will provide investor-oriented mentoring and consulting to help the selected firms secure actual investment.
The Ministry of Employment and Labor and the Korea Social Enterprise Promotion Agency announced Monday they are accepting applications for the "2026 Social Value Business Model Competition" through Aug. 30.
The competition was designed to identify high-growth-potential social value business models and to spread the achievements of social value creation more broadly.
Eligible applicants are social solidarity economy enterprises that received a rating of "excellent" or higher in the Social Value Index (SVI) assessment within the past three years (2023–2025). Firms with innovative business models that combine their own social objectives with solutions to social problems are encouraged to apply.
A key feature of this year's competition is its focus on helping participants develop their business models from an investor's perspective, rather than simply evaluating ideas. Participating firms will receive tailored mentoring and consulting aimed at strengthening their market competitiveness and improving their prospects for actual investment.
The 10 finalists will share prize money totaling 50 million won. They will also receive awards from the minister of employment and labor and the president of the Korea Social Enterprise Promotion Agency.
Follow-up support for selected firms will continue after the competition. The ministry and the agency plan to provide investment-linkage support this year, as well as priority selection for the 2027 investment capacity-building project, among other forms of assistance.
Applications can be submitted through the competition's website until Aug. 20. Firms that missed the online information session held Thursday will find key materials and a FAQ from that session on the website as well.
Jeong Seung-guk, president of the Korea Social Enterprise Promotion Agency, urged eligible firms to apply before the deadline. "With the deadline fast approaching, I hope capable social solidarity economy enterprises holding 'outstanding' or 'excellent' SVI ratings will participate actively," he said. "I expect this competition to be a decisive turning point for firms to secure a clear competitive edge in the investment market and take a leap forward."
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