Gwangjin-gu Prioritizes Local Companies for Sole-Source Contracts to Overcome COVID-19

Priority Participation Encouraged for Companies Located in Gwangjin-gu in Private Contract Projects...Support for Deferred Seizure of Overdue License Plates in Shopping Districts to Promote Local Economic Revitalization

[Asia Economy Reporter Jongil Park] Gwangjin-gu (District Mayor Seongap Kim, photo) supports local businesses to have priority participation in various public project orders of the district to revitalize the local economy, which has been contracted due to the spread of COVID-19.

The district shares the status of companies located in Gwangjin-gu with all departments, guiding each department to prioritize selecting excellent local companies when ordering single-estimate negotiated contract projects.

Also, starting from February, the district established the ‘Negotiated Contract Order Plan Pre-disclosure System’ on the district office website, publicly disclosing all single-estimate negotiated contract order plans of all departments in advance, and reorganized the internal system so that local companies wishing to participate can submit proposals through the website.

Last year, Gwangjin-gu ordered a total of 941 public projects worth 14.75 billion KRW through negotiated contracts, of which local companies accounted for 221 projects worth 3.93 billion KRW, representing 23% of the total number of contracts and 26% in terms of amount.

In addition, Gwangjin-gu decided to postpone the license plate seizure for delinquent vehicles of merchants and visitors to ease the concerns of local merchants who are experiencing management difficulties due to decreased sales.

Furthermore, towing and public auction of seized vehicles, seizure of credit card sales receivables, suspension of business restrictions, temporary release upon request for removal from credit delinquency registration, and support for economic activities will be provided.

Seongap Kim, Mayor of Gwangjin-gu, said, “The participation of businesses in Gwangjin-gu in public projects is becoming a good example of developing a local-centered virtuous economic cycle system,” and added, “We will continue to discover ways to contribute to revitalizing the local economy, such as prioritizing local companies’ participation in negotiated contracts and postponing license plate seizures for delinquency, and strive to achieve early economic stabilization.”