The program targets social ventures that have moved beyond pre-A funding and entered Series A or B rounds, before an IPO. SK plans to select about 10 companies each year for intensive support.
Selected companies will be offered opportunities to work with major SK affiliates including SK hynix, SK Innovation and SK Telecom, along with up to 70 million won in business support funding. SK will first provide 10 million won for growth, then offer up to 60 million won more for demonstration projects after companies identify tasks to pursue with SK affiliates.
SK said it will link the new program with existing initiatives such as SK Pro Bono and SE Consultant to provide integrated support. For business-to-consumer companies, it will offer product consulting and help expand sales channels. For business-to-business companies, it will support pilot projects to help them build references and attract follow-on investment.
SK also plans to strengthen support by working with outside organizations, including the Seoul Business Agency to back demonstration funding and the nonprofit OnYul to provide free legal advice.
SK said the program is intended to address structural hurdles faced by social ventures, which it said can be undervalued in the market because of their focus on solving social problems and can struggle to secure opportunities to break through at the growth stage.
The company cited its broader efforts to build an ecosystem for businesses focused on social problem-solving, including Impact MBA to develop social entrepreneurs, Impact Unicorn to help promising social ventures grow into unicorns valued at 100 billion won or more, and SOVAC (Social Value Connect) to promote connections and cooperation among companies working on social issues.
SK said the push aligns with the group’s management philosophy. SK Group Chairman Chey Tae-won has emphasized the “Double Bottom Line,” arguing that companies should pursue social outcomes alongside financial performance to ensure sustainability.
Under that approach, SK said it views social enterprises and social ventures as partners for shared growth, designing support to go beyond funding by providing business cooperation with affiliates and proof-of-concept opportunities aimed at generating sales and raising company value.
“While the number of social ventures in Korea has increased, many are relatively undervalued as they carry out missions to solve social problems, and often fail to secure growth opportunities,” said Ji Dong-seop, SV committee chair of the SK Supex Council. “We will be a sponsor that provides integrated support so that no company fails to make a leap because it could not get an opportunity at the growth stage.”
* This article has been translated by AI.
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