SK Group Chairman Chey Tae-won, left, speaks on the significance of social enterprise at a forum held at the Sheraton Grande Walkerhill Hotel in Seoul, Sunday. / Courtesy of SK Group

By Kim Tae-gyu

An increasing number of experts are stressing the significance of social enterprise, organizations that apply various commercial strategies to improve human and environmental well-being.

In a forum hosted by SK Group and the Korea Academic Society of Business Administration (KASBA) on April 29 and 30 here, participants spoke on the mounting role of social enterprise.

SK Group Chairman Chey Tae-won said that a paradigm shift is underway from inactive corporate social responsibility (CSR) to a more proactive form.

``In the past, CSR activities were a kind of responsibility. As a result, it seems that corporations had an obligation to carry out them,’’ Chey said in a speech.

``Yet, the advent of a proactive ecosystem like social enterprise would be better at dealing with many social problems as it involves the voluntary participation of the third sector.’’

The tycoon said that society is required to encourage talented individuals and capital to briskly take part in such goodwill initiatives through a host of measures such as tax credit.

``We should establish an incentive system under which able entrepreneurs can build social enterprises or partake in them. Then, we will be able to maximize the value of such campaigns.

``Social enterprises seek both commercial and social values, which would be quite a challenge for those who are responsible for them. Hence, a set of incentives are necessary.’’

Around 300 businesspeople and scholars attended the two-day event from across the world.