‘Jongno-gu Min-Gwan-Gong-Hak’ Join Forces to Revitalize Local Economy

On the 29th at 10 AM, a business agreement was signed with 11 local organizations to revitalize the regional economy... Aiming to establish and implement effective policies for local merchants struggling due to the prolonged COVID-19 pandemic... Combining each organization's capabilities to ▲ develop regional economic revitalization policies ▲ build support systems ▲ provide emergency funding ▲ offer consulting services

[Asia Economy Reporter Park Jong-il] Jongno-gu (District Mayor Kim Young-jong) will hold a signing ceremony for the 'Jongno-gu Public-Private-Public-Academic Regional Council' at 10 a.m. on the 29th in the district office's planning situation room, with 11 local organizations to resolve management difficulties of small businesses and merchants and revitalize the local economy.

This agreement is a commitment to share information on the overall local economy and participate in the establishment and promotion of effective support policies for small business owners.

The participants include a total of 11 organizations: Seoul Credit Guarantee Foundation, Jongno Tax Office, Seoul Entrepreneurs Association, Jongno Chamber of Commerce and Industry of the Seoul Chamber of Commerce, Jongno Small Business Association, Small Enterprise and Market Service Seoul-Gangwon Regional Headquarters, Korea Workers' Compensation and Welfare Service Seoul Regional Headquarters, Woori Bank, Sungkyunkwan University, Korea National Open University, and Baewha Women's University.

Starting with the launch of the regional council, the district plans to pool resources and capabilities from each organization to develop policies to revitalize the local economy, and steadily promote ▲ establishment of a comprehensive support system for small businesses and merchants ▲ emergency fund support ▲ consulting (marketing, tax/labor/law, cost management, etc.) ▲ support for facility improvements in alley and local commercial districts ▲ startup and management improvement education ▲ campus town linkage projects.

Furthermore, to effectively carry out the council's practical work, a working committee will be formed to explore collaborative tasks and support measures based on each organization's business plans.

Through this agreement, Jongno-gu will take charge of more substantial administrative and financial support, while Seoul Credit Guarantee Foundation, Jongno Tax Office, Small Enterprise and Market Service, and Korea Workers' Compensation and Welfare Service will lead education, consulting, and facility improvements for small business owners in pilot commercial districts.

Additionally, merchant organizations such as the Seoul Entrepreneurs Association and Jongno Chamber of Commerce and Industry will strengthen cooperation through suggestions and advice; banks will provide financial support through special contributions; and universities will engage in campus town projects such as youth culture and arts startup support and production of promotional content for local merchants.

District Mayor Kim Young-jong stated, “We aim to actively overcome the difficulties faced by small businesses and merchants suffering from the prolonged COVID-19 pandemic by establishing a solid cooperative system with key public, private, public, and academic institutions in the region,” adding, “We will implement effective policies that can revitalize the local economy by utilizing the resources and capabilities of each organization.”