“If provincial industrial complexes collapse, the resident workforce and purchasing power of the region disappear wholesale, leading to the breakdown of the youth start-up ecosystem and of domestic manufacturing. Regional issues are not a limited crisis confined to rural villages, but a major national industrial problem in which the foundations of Korean manufacturing are being shaken.”

This is according to Kwon Ki-hyo, CEO of Mentorri, a social enterprise that began with mentoring for rural youth and now fosters local talent. Even as the crisis of regional extinction deepens, social enterprises and local creators who are working on the ground to revitalize local areas will gather at “SOVAC 2026,” the largest private social value festival, to be held at COEX in Gangnam-gu, Seoul, on September 21–22.

● From attracting youth to pooling spaces and capital… Local innovators preventing regional extinction

According to Statistics Korea, over the 20 years from 2004 to 2024 there was a net outflow of 960,000 people from non-metropolitan areas to the Seoul metropolitan area, and in 2024 alone, more than 60,000 young people (ages 15–34) left non-metropolitan regions for the capital region. Even amid this concentration in the capital, social enterprises are striving to bring people into local areas and defend regional industries. CEO Kwon links university capstone courses (project-based classes that address real-world problems) to research and development (R&D) projects at local companies, guiding outstanding local talent to find employment or start businesses at mid-sized and small and medium-sized enterprises (SMEs) in their regions instead of moving to Seoul. In Goesan, North Chungcheong Province, CEO Lee Ji-hyun of “Mwohanong,” which produces agriculture-based F&B and cultural content, is transforming the rural lifestyle itself. Lee states, “The goal is to make farming a coveted profession by adding education and tourism to primary agriculture.” The community “Nong Gathering,” a group of about 80 young farmers formed under Lee’s leadership, is breaking down municipal boundaries and building strong solidarity by sharing the preference of “how to live enjoyably.”

In Gokseong, South Jeolla Province, CEO Seo Dong-seon of “Farm&d” has transformed vacant homes and idle facilities in rural areas into “Rustic Town,” a satellite work hub (workation) for companies. Instead of building factories, the concept contributes to local revitalization by having office workers bring their own jobs with them and work locally, an unconventional approach. This model is emerging as a “local version of Pangyo,” simultaneously attracting ESG investments from large corporations and increasing local populations. Seo stated, “So far we have attracted 74 companies, and about 1,000 office workers stay in Gokseong every year,” adding, “We are also planning programs to encourage long-term residency.”

Efforts are also continuing to overcome regional limitations through capital and networks. Impact investor CEO Jung Won-sik of “Jibang Special City Forum” is building an ecosystem that closely connects key players across policy, finance, and local creators, helping local companies secure funding and enhance their sustainability.

● Accumulated local agendas to fully unfold at SOVAC

The SOVAC Secretariat has spent the first half of this year (January–June) busily preparing to create a platform for collaboration for these local social enterprises at SOVAC 2026. With sub-themes such as △Youth who went to local areas △Data-based definition of local issues △Capital and problem-solving methodologies △Use of artificial intelligence (AI), repeated discussions were held, and the results have been shaped into the event’s flagship sessions.

In fact, 7 out of the 17 sessions held over the two days of 21–22 September will focus on local issues. In-depth discussions will unfold under titles such as “The Present of Local Areas and the Future We Will Create Together,” “New Regional Extinction Policies that Make Youth Happy,” and “From Support to Connection.” In addition, 12 of the total 74 booths will be organized by local-related organizations, and a special exhibition will be held. More than half of the market, 27 vendors, will be local brands.

With local-related discussions becoming a core theme of SOVAC this year, expectations are high among social enterprise leaders working in the field. Lee said, “I hope it becomes a platform where hidden local innovation companies are newly discovered and closely connected.” Kwon emphasized, “I hope this SOVAC becomes a genuine ‘platform of connection’ that creates tangible collective impact.”

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