The best way to restore people’s livelihood… Yeongdeungpo-gu, KRW 26.1 billion ‘Comprehensive measure to revitalize people’s livelihood’

Promoting comprehensive measures worth KRW 26.1 billion in 5 major areas to restore people’s livelihoods
Expansion of loan support, early issuance of Yeongdeungpo Love Gift Certificates, support for traditional markets, etc.
Small business owners are the root of the local economy… All-out effort to stabilize the alley commercial area

Yeongdeungpo-gu (District Mayor Choi Ho-kwon) announced that it will pursue a ‘comprehensive plan to revitalize the people’s livelihood’ worth KRW 26.1 billion to breathe life into the frozen local economy.

Small and medium-sized enterprises and small business owners are experiencing difficulties due to the shrinking people’s livelihood. Accordingly, the district has been holding a ‘meeting on measures to revitalize the people’s livelihood’ since last month to listen to the on-site difficulties experienced by small business owners and discuss solutions.

The ‘Comprehensive Measures to Revitalize the People’s Livelihood Economy’ includes policies in five areas, including ▲support for small business owners, ▲support for traditional markets and shopping malls, and ▲job creation, with the main goal of revitalizing the people’s economy by investing a total of KRW 26.1 billion.

First, the district expanded the size of loan support from the Small and Medium Business Promotion Fund from KRW 6 billion to KRW 8 billion to help stabilize the management of small and medium-sized businesses and small business owners experiencing financial difficulties.

In addition, we signed a ‘Special Contribution Business Agreement to Revitalize the People’s Livelihood Economy’ with financial institutions, including the Seoul Credit Guarantee Foundation, to support special guarantees.

Various gift certificates are also issued to help restore vitality to the domestic market. In celebration of the Lunar New Year holiday on the 15th, Yeongdeungpo Love Gift Certificates worth 8 billion won will be issued early. Starting in February, the ‘Yeongdeungpo Danggyoyo Gift Certificate’, which can be used in the public delivery app ‘Dakgyoyo’, will be sold at a 15% discount.

It also includes measures to support the revitalization of traditional markets and shopping districts. We strengthen the competitiveness of the commercial district and attract visitors by renovating and modernizing facilities, such as repairing old arcades (roofs) and resurfacing roads.

In addition, ‘Oullim Market’, a direct transaction market held in the square in front of the district office, is being expanded to provide a stable sales channel for market merchants.

Yeongdeungpo-gu Mayor Choi Ho-kwon said, “Only small business owners, the root of the local economy, can revive the people’s economy,” and added, “We will do our best to help the shrunken commercial district recover and the warmth of economic vitality return quickly.”

<ⓒ투자가를 위한 경제콘텐츠 플랫폼, 아시아경제(www.asiae.co.kr) 무단전재 배포금지>