It has become increasingly evident that existing solutions of public and private sectors to complicated and entrenched social issues are limited. Therefore, new types of organizations such as social enterprises, social ventures, and social cooperative...
It has become increasingly evident that existing solutions of public and private sectors to complicated and entrenched social issues are limited. Therefore, new types of organizations such as social enterprises, social ventures, and social cooperatives are emerging that attempt to approach social issues from a new perspective. This research focuses on social ventures in particular, which aims to solve social problems and responds to demand for social services. In the case of Korea, there has been a growing interest in social ventures since 2009, when the term was used in an official setting for the first time. In this context, it is meaningful to examine the origin of social ventures, their recent growth, and characteristics. Thus, this paper proceeds as follows. First, the concept of social ventures, as well as their main values and stages of development are inspected through a literature review. Secondly, an identification of the characteristics of social ventures is conducted. Third, social ventures are categorized based on the types of values they pursue. Last, this paper concludes by identifying the distribution of social venture intermediaries and their role.