Gwanak-gu Traditional Market Turnaround?

[Seoul District News] Gwanak-gu Invests 129 Million KRW in 55 Small Business Stores in Traditional Markets for Customized Consulting and Facility Improvements... Gangbuk-gu Provides Tailored Welfare Support Including Basic Living and Education Expenses for At-Risk Youth... Seodaemun-gu Supports Budget for Selected Youth Business Ideas... Dongdaemun-gu Offers Resident Education to Enhance Understanding and Participation in Social Economy

Gwanak-gu Traditional Market Inheon Market

[Asia Economy Reporter Park Jong-il] Gwanak-gu (Mayor Park Jun-hee) is promoting the 'Traditional Market Store Turnaround Management Support Project' to assist small business owners in traditional markets and alley-type shopping districts who are struggling due to the prolonged COVID-19 pandemic.

'Turnaround' is an economic term referring to a company recovering from stagnation to growth. This project supports small business owners in traditional markets and alley-type shopping districts by providing management consulting and facility improvements to help them become self-reliant.

Through this project, the district plans to strengthen the overall competitiveness and vitality of not only individual stores struggling due to the prolonged COVID-19 pandemic and economic recession but also the entire traditional markets and alley-type shopping districts.

With a total project budget of 129 million KRW, the project is entrusted to the Seoul Credit Guarantee Foundation, which has expertise and infrastructure related to small business owners, to support a total of 55 stores.

The support targets small business stores operating for more than three months in traditional markets and alley-type shopping districts within the region. Selection is based on management status such as opening year and sales volume. Franchise stores, businesses restricted from re-guarantee, non-store businesses, temporarily closed or closed businesses, and stores that have received similar project benefits within the last two years are excluded.

The application period is from March 21 to April 8. Afterward, the final selection results will be individually notified in April following document screening by the review committee.

Selected stores will receive customized consulting on overall management including marketing, customer management, and store operations. Based on the consulting results and store-specific needs, support will also be provided to improve the business environment of outdated store facilities.

Stores wishing to participate can check the announcement on the Gwanak-gu Office website (News & Notices → Announcements) and submit the application form and required documents in person at the Seoul Credit Guarantee Foundation Gwanak Branch (1801 Nambusunhwan-ro, 4th floor).

For more details, please check the Seoul Credit Guarantee Foundation website or contact the Gwanak Branch of the Seoul Credit Guarantee Foundation.

A district official said, “We hope this will be an opportunity for small business stores in traditional markets, which have been stagnant during the difficult times of COVID-19, to make a fresh start. We will promote the project to ensure that stores with vulnerable management environments receive maximum benefits.”

Gangbuk-gu (Mayor Park Gyeom-su) is launching the ‘Youth Special Support Project’ to assist at-risk youth facing social and economic difficulties and is recruiting eligible applicants.

The ‘Youth Special Support Project’ provides tailored welfare services in eight areas including livelihood, health, academics, and counseling to youth who do not receive support under other systems or laws. The district announced that this project aims to eliminate welfare blind spots for at-risk youth.

The support targets youth aged 9 to 24 whose household median income is 72% or less.

Youth from households with median income at or below 65% can receive support in the areas of ▲livelihood and ▲health, while youth from households with median income at or below 72% can apply for support in ▲academics, ▲independence, ▲counseling, ▲legal aid, ▲activities, and ▲other support.

The district is accepting applications during the intensive application period until April 8. After income verification and review by the Community Youth Integrated Support System Operations Committee, selected applicants will be notified.

Selected youth will receive customized welfare services until the end of the year. If ongoing support is deemed necessary, at-risk youth can receive welfare support extended once, and academic and independence support can be extended up to twice.

Youth wishing to apply or teachers, public officials, youth leaders, and social workers who identify youth in need can apply at the resident center with jurisdiction over the youth’s address.

For details on support amounts and other information, contact the Gangbuk-gu Youth Division. Last year, the district supported 21 at-risk youth with approximately 15 million KRW.

Mayor Park Gyeom-su said, “We hope this support project will be of great help to youth facing economic difficulties. We will strive to ensure that the children who will lead Gangbuk-gu grow up healthy.”

Seodaemun-gu (Mayor Moon Seok-jin) announced on the 21st that it will hold the ‘2022 Youth Challenge Project’ contest to allow young people to plan and execute ideas in their areas of interest.

Groups or organizations of three or more youths aged 19 to 34 who reside or are active in Seodaemun-gu can propose projects on themes such as ▲improving living conditions for single-person youth households, ▲forming healthy youth communities and networks, ▲enhancing youth safety, welfare, and culture, and ▲other regional development plans.

The project scope must be within Seodaemun-gu, and projects must be able to switch to non-face-to-face formats depending on the COVID-19 situation.

Four teams will be selected through first and second rounds of evaluation based on feasibility, validity, and creativity, and each team will receive approximately 5 million KRW in project funding.

Last year, 26 teams applied, and teams such as Beotbat (food culture improvement), Orange Base (music lessons), Family Rights Research Institute (support for domestic violence victims), and Tongsinsa (growing companion plants) were selected.

Applicants can download the application form, project proposal, and budget execution plan from the Seodaemun-gu website announcements and submit them via email by the 27th of this month.

Selected teams will carry out their projects from April to November and hold a ‘Youth Challenge Project Performance Presentation’ in December to share their project outcomes and exchange feedback.

Mayor Moon Seok-jin said, “We hope many will show interest and participate in this project where ideas can be directly executed, and we will actively support youth challenges to lead to meaningful results.”

Dongdaemun-gu (Mayor Yoo Deok-yeol) Social Economy Support Center (Center Director Choi Geun-young, hereafter ‘Dongsa-gyeong Center’) will operate the ‘Social Economy First Step! BEGIN Course’ for Dongdaemun-gu residents to enhance understanding of social economy and provide opportunities for direct participation.

Social economy refers to economic activities aimed at realizing common interests and social values such as reducing polarization and creating jobs. This education provides comprehensive and systematic knowledge related to social economy and aims to discover social economy entrepreneurs.

The resident education will begin with the first lecture on the 25th and consist of four sessions. Topics include ‘Understanding Social Economy and Managerial Characteristics,’ ‘Guest Lecture by Entrepreneurs,’ ‘Exploring Social Economy Business Models,’ and ‘Procedures and Requirements for Establishing Social Enterprises and Cooperatives.’

The district has continuously conducted resident education since the opening of the Dongsa-gyeong Center. This year, it notably invites social entrepreneurs currently operating businesses in the region to share their stories of pursuing social value and prospering, attracting attention.

This education will be conducted online via the ‘Metaverse Dongsa-gyeong Center’ to prevent the spread of COVID-19. Dongdaemun-gu residents wishing to participate can apply through the Dongsa-gyeong Center website by the 24th.

Mayor Yoo Deok-yeol said, “This education will provide an opportunity to resolve residents’ questions about social economy and we hope many residents aspiring to become social economy entrepreneurs will participate. Since the education will be held online via the Dongsa-gyeong Center metaverse, we hope interested residents will join and find it meaningful.”