Korea Social Value Festa opens to address social issues

The 3rd Korea Social Value Festa opened at COEX in Seoul, bringing together approximately 400 organizations, including government agencies, corporations, academia, and international bodies, to seek solutions for pressing social issues. The event features over 300 exhibition booths and 50 sessions focusing on themes such as AI-driven youth employment, environmental norms, and social solidarity economy.

During the opening ceremony, Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry (KCCI), emphasized the necessity of using Artificial Intelligence to reduce the costs associated with social problems like aging populations and climate change. He argued that solving social issues should not rely solely on goodwill but must be supported by a system that measures social performance and provides corresponding economic rewards and investments.

Chey highlighted the KCCI’s ‘Social Performance Incentive’ program, noting that 470 companies generated 540 billion won in social value, with participating companies seeing approximately 35% revenue growth. The festival includes specialized forums, such as a seminar on global environmental norms with UNEP and a youth employment forum regarding the AI era in collaboration with the Ministry of Employment and Labor.