Impact Square (ISQ), founded in 2010 in South Korea, is nominated for its pioneering work in promoting and implementing the concept of “Impact Business” – creating shared value between business and society. Despite initial doubts and skepticism from both society and the business sector, ISQ persevered in its mission to prove that businesses can contribute to creating social value while simultaneously benefiting themselves.
ISQ has worked with Korean conglomerates, such as Samsung, SK, Hyundai, LG, Lotte, and POSCO, providing consulting services on creating shared value (CSV) and adjusting existing businesses or launching new ones to generate positive social impacts. The organization has also collaborated with the government to mobilise resources and foster partnerships between large companies and SMEs under the theme of CSV.
Additionally, ISQ has been a promoted impact measurement practices in Korea, despite initial criticism for quantifying the value of social good. The organisation has accumulated more than 250 cases of impact measurement and has cooperated with the government to adopt a systemised social value measurement framework aligned with global standards.
ISQ continues to expand its efforts to address urgent and massive social problems in Southeast Asia and local cities in Korea, working to mobilise resources and technology to support local entrepreneurs in solving these challenges.
