Chey Tae-won, Chairman of SK Group at SOVAC (Social Value Connect) 2023 (Image provided by SK Group)
SEOUL, Aug. 10 (Korea Bizwire) – In a significant move to address pressing social issues, the Korea Chamber of Commerce and Industry (KCCI) announced on August 9 that it will host the inaugural Korea Social Value Festa on September 12 at COEX in Seoul’s Gangnam district.
The event, which aims to bring together government, private sector, and academia to explore solutions for various social challenges including climate change and regional decline, is expected to draw participation from over 180 organizations.
These include the Korean Academic Society of Business Administration, Korea Social Enterprise Promotion Agency, Korea International Cooperation Agency (KOICA), Korea Social Investment Foundation, Korea Central Public Agency for Social Service, UNICEF, Happy Alliance, and Centre for Asian Philanthropy and Society (CAPS).
The festival was conceived following a proposal by KCCI Chairman Chey Tae-won, who emphasized the need for more efficient collaboration in addressing social issues. “It’s time to seek more effective ways to achieve results,” Chey stated. “We need various stakeholders to participate, discuss diverse social agendas, and increase social impact through cooperation.”
This event represents an expansion of SK Group’s annual Social Value Connect (SOVAC), previously the largest private social value festival in South Korea. The KCCI has broadened the scope to encompass the entire economic and social spectrum, with SOVAC now incorporated as a section within the larger festival.
The Social Value Festa will feature exhibition booths from about 130 entities, including major conglomerates like SK, LG, POSCO, Kakao, Hoban, Hyundai Marine & Fire Insurance, and BGF. Government and public sector organizations, academic institutions, associations, social enterprises, and social ventures will also participate, showcasing their initiatives and ideas on climate change response, local job creation, and support for vulnerable groups.
The event will include a leaders’ summit, lectures, and discussions on topics such as social responsibility in the era of low birth rates, impact investing, and social value measurement and compensation.
A “value consumption experience space” will allow participants to explore and purchase sustainable lifestyle products from about 50 markets, promoting healthy consumption practices.
Park Il-joon, the KCCI’s executive vice chairman, expressed hopes that the event would be the largest gathering of stakeholders working to solve social problems in Korea. “We hope participants will encourage each other’s efforts and find new ideas and opportunities for collaboration,” he said.
Those interested in attending can register online through the KCCI website’s event board or the communication platform Sople.
Ashley Song (ashley@koreabizwire.com)
