Representatives of the organizations of the Vietnam Social Enterprise Alliance, such as the Department of Planning and Investment and the Department of Forest Protection of the Trà Vinh Province and local universities, have had a chance to verify the social values pursued by SK Innovation with their own eyes.

The representatives of participating agencies visited Korea—particularly the SK Innovation headquarters, KAIST College of Business, SK Ulsan Complex, and a social enterprise established with support from SK Innovation—on February 19 and 20 to benchmark the earlier efforts of SK Innovation for social values and better understanding and cooperation between the participating agencies.

Vietnam Social Enterprise Alliance is a civic group made up of SK Innovation and government organizations, educational institutes, and nongovernment organizations (NGOs) of Vietnam facilitating the growth of social enterprises in Vietnam, supporting the community, and the restoration of mangrove forests*, and generating social value. Last November, SK Innovation signed a memorandum of understanding (MOU) with the Trà Vinh Province Department of Planning and Investment, Trà Vinh University, UN Environment Programme (UNEP), Dream Sharing Social Cooperative, and other regional government, educational institutions, and NGOs. On February 18, Yonhap News and the Vietnam News Agency, the state news organizations, have also joined the alliance and pledged to help in promoting their activities.

*Mangrove: A tree that grows in tidal flats or river estuaries in subtropical or tropical regions. It is known for its outstanding carbon storage capacities and is thought to be effective as a means of response to global climate change. SK Innovation has selected the Mangrove Restoration Project as one of the themes under its 1% Happiness Sharing Fund, thereby supporting the restoration of mangrove forests in Vietnam’s Trà Vinh Province and the research at Ho Chi Minh City University of Technology.

01 | Visiting SK Innovation headquarters and social enterprises to learn how to generate social value

The first stop on February 19 for the visitors was the SK Innovation headquarters (in Seorin-dong), where they learned about the projects undertaken by SK Innovation and its corporate social responsibility efforts.

Visitors focused on how SK Innovation developed sustainable models for social enterprises, how the 12 social enterprises supported by SK Innovation have managed to create jobs for vulnerable groups, and other positive consequences for the community. The Q & A session was spent with eager participants discussing the potential application of SK Innovation’s experiences to the situation in Vietnam.

The next stop on the visit was the KAIST College of Business, where the participants attended a presentation on the KAIST MBA course for social entrepreneurs, offered in conjunction with SK Innovation.

▲ Representatives from Vietnam Social Enterprise Alliance listen to the presentation delivered by Professor Lee Ji-hwan of KAIST College of Business before visiting the SK Center for Social Enterpreneurship

Afterward, they visited the SK Center for Social Enterpreneurship to tour the learning, business, and lab areas used by the social entrepreneurs attending the KAIST College of Business to get a more in-depth understanding of social entrepreneurship training.

The presentation that was received most favorably by the participants was the presentation on social enterprise models currently being used in Vietnam and Uganda. In particular, participants focused on how these projects went beyond solving social problems and created further consequences for the community.

The final stop of the day was the Hapjeong morethanCONTINEW store established by a social enterprise founded with support from SK Innovation. CEO Ian Choi of morethan presided over a discussion of the environmental and social values of upcycling automobile upholstery leather.

02 | Visiting SK’s main production site, SK Ulsan Complex, and Ulsan Grand Park

The next day, February 20, began with a visit to SK’s main production site of SK Ulsan Complex and the Ulsan Grand Park. Visitors recollected their tour of the plant, saying, “We were very impressed by the sheer size of the operation at SK Ulsan Complex and the central role that SK Innovation plays in Korea’s oil industry and economic development.”

Ulsan Grand Park, built on a 3.69 sq km land donated by SK Innovation to the Ulsan Metropolitan City in 2006, served as a site for a discussion about the efforts of SK Innovation to ensure cooperation and mutual benefit with the community.

SK Innovation plans to join the 12 Vietnam Social Enterprise Alliance member organizations to establish a social enterprise in March, which will serve as the focal point of their efforts in fundraising and other activities required for the restoration of mangrove forests.