Gangwon-do, Focused Management on 'Chuseok Price Stability'

230.5 Billion KRW Executed Before Chuseok... Payments for Public Sector Construction Works, etc.

Gangwon Provincial Government

[Asia Economy Reporter Ra Young-cheol] Gangwon Province has launched a focused effort to stabilize prices ahead of the Chuseok holiday.

According to the province on the 7th, following the implementation of the 'Gangwon Province Livelihood Stability and Price Measures' announced on the 24th of last month, early execution before Chuseok was increased by 57.4 billion KRW from the initial 173.1 billion KRW to 230.5 billion KRW.

Payments for public sector construction projects within the province, combining provincial, city, and county levels, will be made for 5,026 cases totaling 164.2 billion KRW (1,756 construction cases worth 94 billion KRW, 1,453 service cases worth 28.4 billion KRW, and 1,817 goods cases worth 41.8 billion KRW) before Chuseok.

To stabilize prices of vegetables and agricultural products, 5,675 tons of highland cabbage and radish stockpiles were shipped, and 1.2 billion KRW in incentives were provided to farmers.

Farmer allowances amounting to 34.7 billion KRW were paid to 11 cities and counties, with the remaining 8.8 billion KRW to be prioritized for payment after application procedures.

Local gift certificates worth 24.4 billion KRW (6 billion KRW from the province, 18.4 billion KRW from cities and counties) were issued and sold, and Gangwon gift certificates worth 6 billion KRW have been issued and sold since the 5th.

Additionally, wage payments to construction workers and improper contracts were closely inspected to ensure workers do not suffer disadvantages.

In particular, loan products to support vulnerable small business owners facing difficulties due to high interest rates have already been launched.

Loan products for general small business owners and startup small business owners will be expanded by 70 billion KRW and are planned to be launched in October.

Jeon Gil-tak, Director of the Provincial Economic Promotion Bureau, stated, "We will reduce wasteful budgets and increase investment in the livelihood economy sector to continuously implement livelihood stabilization measures."