[Seoul District News] Seoul Jung-gu, Saemin Geumyung Jinheungwon, and Merchant Association Sign Tripartite Agreement to Provide Microloans to Small Traditional Market Merchants & Interest Rate Autonomously Set by Merchant Association Within 4.5% Annual ... Dongdaemun-gu Completes Inspection of 3,767 Commercial Scales ... Seoul Gangseo-gu Launches Nation's First Comprehensive Real Estate Tax 'One-Stop Civil Service'
[Asia Economy Reporter Park Jong-il] Jung-gu, Seoul (Mayor Kim Gil-seong) is supporting microloans to small merchants in traditional markets through a tripartite contract with the Korea Inclusive Finance Agency and merchant associations.
The loans are provided without guarantees or collateral, offering relief to market merchants struggling with high inflation, economic downturn, and the aftermath of COVID-19.
Since 2011, Jung-gu has been selected as a project implementing agency by the Korea Inclusive Finance Agency upon recommendation from Seoul City. The actual loan operations are carried out by the traditional market merchant associations commissioned by Jung-gu.
The support amount is determined according to the size of each traditional market, with loans up to 10 million KRW per store per loan product and up to 5 million KRW per street vendor. Interest rates are relatively low, capped at 4.5% per annum, and can be autonomously decided by the merchant associations.
Loan products include microloans, holiday fund support, and special COVID-19 fund support. New loans have a repayment period of 3 years, extensions and additional support as well as COVID-19 funds have 2 years, and holiday funds must be repaid within 5 months.
Jung-gu has the largest number of traditional markets among Seoul’s autonomous districts, making its loan scale the largest among the 22 participating districts (60 markets).
For microloans, a total of 2.1 billion KRW is currently being loaned across 10 markets including Namdaemun Market, Tongil Arcade, and Techno Arcade. For more details, contact the Jung-gu Traditional Market Division.
Mayor Kim Gil-seong of Jung-gu stated, “Beyond microloan projects, we will seek multifaceted solutions to help small business owners overcome difficult times and continue their businesses.”
Dongdaemun-gu (Mayor Lee Pil-hyung) has completed the regular inspection of commercial weighing instruments (scales) conducted since the end of September to protect consumer rights, achieving a 99% inspection rate.
The regular inspection of weighing instruments is a statutory inspection conducted every two years under the Measurement Act to ensure fairness in transactions and protect consumer rights. The inspection was exempted in 2020 due to COVID-19 but resumed this year after four years.
Starting from Yongshin-dong on September 28, the district inspected 3,767 commercial weighing instruments (scales) at community centers, traditional markets, and large marts. The inspection checked for seal removal and usage errors exceeding tolerance using test weights. Of the 3,767 scales inspected, 3,678 (97.6%) passed, while 69 (1.8%) failed due to exceeding usage errors.
Passed scales were affixed with a passing certificate, while failed scales were marked with a usage suspension certificate, requiring repair and reinspection or were collected and discarded.
Using uninspected weighing instruments for commercial purposes may result in a fine of up to 1 million KRW under the Measurement Act. Those who have not yet undergone inspection should visit the Dongdaemun-gu Economic Promotion Division for on-demand inspection.
Park Sang-jin, head of the Economic Promotion Division, said, “This year’s regular inspection was conducted to establish a sound commercial order by ensuring fairness in transactions and accuracy of weighing instruments. We sincerely thank all participants who cooperated by visiting the inspection sites despite their busy schedules.”
Gangseo-gu, Seoul (Mayor Kim Tae-woo) and Gangseo Tax Office (Chief Lee Jeong-hee) have taken proactive measures to alleviate residents’ inconvenience ahead of the complex and difficult comprehensive real estate tax imposition.
On the 11th, Gangseo-gu and Gangseo Tax Office held a signing ceremony for the establishment and operation of a ‘One-Stop Civil Service Consultation Desk’ to promptly resolve residents’ inconveniences related to comprehensive real estate tax payments, the first of its kind nationwide, at the district office’s main conference room.
The comprehensive real estate tax is imposed by the tax office based on property tax data levied by city, county, and district offices.
Therefore, property tax data directly leads to comprehensive real estate tax inquiries, causing residents to repeatedly visit both the tax office and the district office, which was a major inconvenience.
Mayor Kim came up with the idea of a ‘one-stop system’ to resolve inquiries from multiple agencies at once and immediately put it into action.
According to this agreement, a ‘Joint Comprehensive Real Estate Tax Civil Service Consultation Desk’ will be installed for the first time nationwide in the auditorium on the second floor of Gangseo Tax Office, coinciding with the issuance of comprehensive real estate tax bills on the 21st.
The desk will be staffed by tax office employees and tax division staff dispatched from the district office, providing consultations on the basis for taxation, methods for submitting change data, and more.
The operation period will last until the payment deadline on December 15, allowing residents to handle comprehensive real estate tax inquiries in one place, including on-site verification of tax data, submission of change reports, and confirmation of acquisition, changes, or cancellations related to rental business housing.
This first-ever consultation desk is expected to resolve the inconvenience of taxpayers having to visit both the tax office and district office multiple times.
Mayor Kim Tae-woo of Gangseo-gu said, “Residents have long experienced significant inconvenience when agencies differ in handling civil affairs, and responses to alleviate these inconveniences have been lukewarm. Residents are always our top priority in all administration, and we will solve residents’ inconveniences one by one with creative administrative ideas.” For more information, contact the Gangseo-gu Tax Division 1.
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