Gangdong-gu Mayor Lee Jeong-hoon Appointed as Head of Regional Economic Countermeasures Headquarters to Overcome COVID-19

Operating a General Countermeasure Headquarters with the District Mayor as Chief to Overcome the COVID-19 Economic Crisis... Checking the Status of Comprehensive Measures for Revitalizing the Local Economy and Discovering Customized Projects for Substantial Progress

[Asia Economy Reporter Jong-il Park] Gangdong-gu (Mayor Lee Jeong-hoon) is forming and operating a Regional Economic Countermeasures Headquarters to fully focus on economic revitalization measures tailored to local conditions.

According to the comprehensive regional economic revitalization plan established in March, the district is implementing 62 support measures by preparing projects linked with the government and Seoul city in four areas: support for small business owners and SMEs, job support, revitalization of local commercial districts, and economic stimulus measures, as well as independent projects suited to Gangdong-gu’s circumstances.

Although the COVID-19 quarantine measures recently shifted to “social distancing in daily life,” small-scale local infections continue, highlighting the possibility of a prolonged economic downturn. Therefore, the district formed the Regional Economic Countermeasures Headquarters to concentrate its capabilities on overcoming the local economic crisis.

The Regional Economic Countermeasures Headquarters is operated with four teams?General Management, Small Business Support, Job Support, and Commercial District Revitalization?led by the district mayor to restore weakened consumer sentiment and revive the local economy.

The district plans to share opinions and discuss countermeasures through regular meetings and ad hoc working-level meetings to vigorously promote substantial regional economic measures.

Additionally, at the regular meeting held on June 1, the progress of regional economic measures was reviewed, and key projects and rapid financial execution plans were discussed to encourage maximum implementation in the first half of the year.

Key regional economic revitalization measures include the “One Institution, One Market Sisterhood” program, where all employees actively participate in using traditional markets. Gangdong-gu is also implementing policies to closely support small business owners facing real difficulties, such as fully covering small business owners’ flood insurance premiums for the first time in Seoul and providing food promotion fund loans at the lowest interest rate (1%) among Seoul’s autonomous districts.

Furthermore, in the second half of the year, additional issuance of the “Gangdong Love Gift Certificate” will promote local community consumption, and the “COVID-19 Overcome Hope Job Project” will be operated to expand public jobs.

Lee Jeong-hoon, Mayor of Gangdong-gu, said, “Through the Regional Economic Countermeasures Headquarters, we will continuously identify tailored measures by monitoring project trends and preparing follow-up actions, prioritizing policies that residents can feel directly.”