• Journal of Digital Convergence
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• v.16 no.4
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• pp.11-22
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• 2018

The Social Economy including social enterprise is solving various social problems of our society by innovative business Nevertheless, social economic companies have limited investment ingrowth due to insufficient capital. There are various attempts to solve the limit of capital investment by social finance. Social iImpact bonds that introduced performance-based compensation into financial system is recognized as a new means of procuring that capital lacks. 89 social impact bonds were issued in 19 countries around the world. )f the 22 social impact bonds reporting performance, 21 bonds report positive performance. The twelve bonds paid incentives to investors. It can be said that the government provides incentives to review the issuance of social impact bonds at the government level, which is difficult to expand the social welfare budget. This study confirmed the performance of the social impact bonds and confirmed the possibility of introducing it in korea. There is a limit to continuously increasing the government's social expenditure to meet demand. Therefore, in order to support the growth of social economy based on private investment, the issuing of social impact bonds should create a virtuous circle of social financial market.

• Korean Journal of Social Welfare Studies
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• v.47 no.4
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• pp.333-360
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• 2016

Social Impact Bonds(SIBs) has emerged as a promising way to finance proven social services programs, fund what works, and drive government accountability and has increased fast. In this context, this study examines and classifies the structure of SIB focusing key criteria of the main steps through two-step cluster analysis. Analysis results are as follows. First, the main commissioners of SIB are the ministries of the central government. And in terms of the stage of invest, there are usually two or three investors mainly consisting of social finance organizations. Second, in terms of target and age of SIB beneficiaries, it focuses on the adolescent and youth. Third, in the outcome evaluation stage, the results show that in most cases outcome payments are determined by a validation of service provider or government administrative data. However, the rate of payments are based on the comparison of the program beneficiaries to other comparable groups is 23.8%. Finally, The results of two-step cluster analysis are as; 'mix of central government and social finance organization', 'multiple agent including private organization', and 'multiple social provider'. Among three types, 'multiple agent including private organization' shows the most active participation between agents and the most systematic outcome measurement and management. The results of this study imply that the importance of the method to manage and measure outcome in SIB structure. Moreover, the consist of commissioners or investors is needed to expanded more.

• Management & Information Systems Review
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• v.34 no.2
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• pp.151-169
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• 2015

Social enterprises that are solving pressing global issues and providing services such as micro-finance, affordable housing, appropriate technology and education for the 'bottom of the pyramid' as well as cultural and community-related businesses that improve the 'quality of life' within a society are the target of impact investments. Among them, a capital financing is one of the most important factor in founding and fostering of social enterprise. However, the capital market for social enterprises in South Korea are not yet sufficiently developed. The Britain and U.S.A. attempted to solve the social problem by the introduction of the social innovation credit model, for example, social impact bonds(SIB), Big Society Capital, DBLIF, and ACCION International, which are considered as an innovative new financing instrument for social program. Instruments are being attempted for the first time in Britain and America. This study have two purposes. The first purpose is abstracting the institutional mechanism for introduction of impact investment such as SIB and DBLIF case in Britain and U.S.A.. Second, analyzing type and mix of policy instrument on impact investment from the perspective of policy instrument.

• Management & Information Systems Review
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• v.39 no.2
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• pp.163-179
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• 2020

Recently, impact investment has attracted attention all over the world. This is intended to effectively solve problems by combining private capital and various financial techniques with social and environmental needs, as it is recognized that it is difficult to solve social and environmental problems. Impact investment means a mixture of financial, social, and environmental aspects. This refers to an investment focused on such a blended value, through which it simultaneously achieves financial and social values such as return on investment. The purpose of this study is to study whether impact investment, which has become a new issue, is actually applicable in Korea. This study first considers the concept and method of impact investment, and a prior study on social enterprises and impact investment that pursue social values. In particular, after analyzing in detail the social performance-related bonds (SIB) and operational cases, we intend to explore the possible applicability of impact investment to Korea. The results and implications of this study are, first, changes in the government's attitude toward impact finance. The government should entrust innovative public works to market-proven service providers to enhance the professionalism and efficiency of public service projects. Second, the legal system must innovate. Impact investment should provide an institutional foundation to pursue social problem solving simultaneously, not maximizing financial performance. Third, when investing in public works in the private sector, impact investment must clearly demand social performance and clarify the evaluation accordingly. The project execution process should create an impact environment that is more free and active.

• Journal of the Korean Regional Science Association
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• v.33 no.1
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• pp.69-85
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• 2017

The positive changes in urban space and urban activities resulting from the urban services provided by Smart City is not accomplished by simply creating the physical environment built on ICT but through the cooperation and participation of citizens and private sector, which is in fact key to success. In this study, this research analyzed the role and structure of smart governance, which is a system of horizontal cooperation between public and private sector, and analyze its role in developing Smart City. The study also proposes various ways to facilitate such development in each of critical categories. For this purpose, this research studied 228 smart services across 11 categories registered in the Ministry of Land and Transport in Korea to analyze the spatial distribution of smart services by spatial hierarchy and their characteristics Also, the research conducted a case study of MetroGIS, which is an information collaboration governance system for the greater area of Minneapolis and St. Paul in the state of Minnesota, United States, to explore how governance is formed; its organizational structure; the role of sub-level organization hierarchy and their interrelationship. The results of the analysis suggest that the following conditions are required to create a smart city: first, public sector resource assistance for building community; second, enhanced communication system within the community and with outside the community; securing financial stability and establishing a model of sustainable development to induce the community to evolve into a governance form.