The “SOVAC 2025” event, which serves as a platform for solving social issues and promoting sustainable growth, successfully concluded on the 25th and 26th at COEX in Samseong-dong, Seoul, drawing over 10,000 participants. The SOVAC Secretariat announced on the 27th that the event under the theme “Designing a Sustainable Future” gathered around 10,000 attendees.
This year’s event saw the participation of about 180 SOVAC partner companies, including private corporations like SK Hynix, SK Telecom, Hyundai Marine, and Kakao Impact, as well as academic institutions such as Seoul National University and KAIST, along with government and public institutions like the Ministry of the Interior and Safety and the Ministry of Employment and Labor. Notably, members of the youth generation, such as university students, and representatives from Japan’s social enterprises also participated.
SOVAC, proposed by SK Group Chairman Chey Tae-won and launched in 2019, has been recognized over the past seven years for its significant contributions to revitalizing the ecosystem and strengthening self-reliance through initiatives like impact investment attraction and market development for social enterprises and social ventures.
For the first time this year, a competition called “SK Telecom FLY AI X SOVAC Challenger” was held, where 66 university students collaborated with social enterprises to propose AI solutions for social problems, such as resource circulation, aging, and accessibility for people with disabilities. The grand prize went to the ‘FEELINK’ team, which devised a solution enabling visually impaired individuals to receive voice guidance of mobile app images, earning high praise.
The event also included sessions discussing global cooperation strategies for social value creation. A session on “Korea-Japan Impact Investment Cooperation” brought together stakeholders from both countries to share experiences and case studies, focusing on strengthening cooperation in addressing similar social issues such as low birth rates, aging, and youth unemployment. Participants emphasized the need for discovering cooperative models in the policy and private sectors between both nations.
Additionally, the event featured markets, bazaars, and donation programs, engaging public interest and participation.
In a video opening address, Chairman Chey Tae-won stated, “To create sustainable solutions for the complex social issues we face, a transformation in mindset and structure is necessary,” adding that “solving social issues cannot be done by the government alone; businesses, civil society, and academia must all take a lead role.” He further proposed, “There needs to be a shift toward rewarding companies and organizations or individuals that achieve results in solving social issues, with systems to accurately measure current issues and achievements and to institutionalize a performance-based reward structure.”
A SOVAC representative said, “We will continue to build spaces for communication and cooperation, so that more people can participate in solving social problems.”