SOCS family proteins form part of a classical negative feedback system that regulates cytokine signal transduction. SOCS2 appears to be a negative regulator in the growth hormone/IGF1 signaling pathway. Probable substrate recognition component of a SCF-like ECS (Elongin BC-CUL2/5-SOCS-box protein) E3 ubiquitin-protein ligase complex which mediates the ubiquitination and subsequent proteasomal degradation of target proteins. Protein modification; protein ubiquitination. Interacts with IGF1R (PubMed:9727029). Associates with the Elongin BC complex (PubMed:16675548). Interacts with AREL1 (PubMed:31578312). Interacts with PRKCA (By similarity). Interacts with DCUN1D1 (PubMed:23401859). High expression in heart, placenta, lung, kidney and prostate. Predominantly expressed in pulmonary epithelia cells, specifically type II pneumocytes. By a subset of cytokines, including EPO/erythropoietin and CSF2/GM-CSF. The SOCS box domain mediates the interaction with the Elongin BC complex, an adapter module in different E3 ubiquitin ligase complexes. Ubiquitinated; mediated by AREL1 and leading to its subsequent proteasomal degradation (PubMed:31578312). Ubiquitination is dependent on its phosphorylation at Ser-52, by PKC (PubMed:31578312). Ubiquitination is stimulated by LPS (By similarity). Phosphorylation at Ser-52 by PKC facilitates its ubiquitination and proteosomal degradation.