[Asia Economy Reporter Jongil Park] The first day of the Year of the Rabbit, 2023, has dawned.
This year, significant economic difficulties are expected. Not only the government but also the industry is deeply concerned.
Amid this, Seoul City, the City Council, and the 25 district mayors, who manage the people's livelihood, are also worried about the hardships faced by the common people.
With a shared recognition of the economic difficulties, it seems that efforts to prepare countermeasures will gain momentum.
Mayor Oh Se-hoon expresses determination to implement city administration ‘walking together with the socially vulnerable’
In his New Year's address, Mayor Oh Se-hoon emphasized, "2023 will be the first year of a full-fledged leap and takeoff toward 'Companion and Attractive Special City Seoul.' We will vigorously move forward to make Seoul the most trendy and attractive city in the world by thoroughly caring for and walking together with the vulnerable in our society."
Kim Hyun-ki, Chairman of the Seoul City Council, which monitors and proposes alternatives to Seoul City, also said in his New Year's address, “There are great concerns about the economy this year. The City Council will actively promote various measures to ensure sufficient consideration for citizens' livelihoods, especially the socially vulnerable.”
District mayors of Seoul, including Jeon Seong-su of Seocho-gu, also express economic concerns... stepping up to support vulnerable groups
The 25 district mayors of Seoul are united in their economic concerns and commitment to prepare countermeasures. Many district mayors, including Ryu Kyung-gi of Jungnang, Jeong Won-oh of Seongdong, and Jeong Moon-heon of Jongno, presented visions for the city's future this year while also expressing their intention to support the common people who will suffer from the economic downturn.
Jeon Seong-su, Mayor of Seocho-gu, announced active support for small and medium-sized business owners facing great difficulties due to the economic crisis following COVID-19, including ▲ 0.1% ‘ultra-low interest loans’ for fostering SMEs ▲ ‘ultra-speed loans’ providing up to 50 million KRW per business regardless of credit rating or collateral. He also stated plans to revitalize local commercial districts by linking the ‘Yangjaecheon Local Brand Project’ with the Maljukgeori alley shopping district. Furthermore, he declared his intention to actively promote walking together with the vulnerable.
Lee Ki-jae, Mayor of Yangcheon-gu, pledged that all 1,500 Yangcheon public officials will do their best to create a warm city that helps the socially vulnerable.
Kim Gil-seong, Mayor of Jung-gu, vowed that the district office will work together to help traditional markets, alleyway commercial districts, and urban industries quickly respond to environmental changes, from facility improvements to marketing and capacity building.
Yoo Sung-hoon, Mayor of Geumcheon-gu, stated, "This year will be a year of communication where we listen to the voices of the vulnerable so that no residents are left out. We will focus on what residents truly want, expand Geumcheon's unique welfare policies, and build a dense welfare network."
Park Jun-hee, Mayor of Gwanak-gu, said, "We will strengthen welfare services through building a dense social safety net and carefully manage spatial welfare projects to stand tall as the ‘nation’s most inclusive city.’ We will also create a strong safety city that protects residents' lives and property, advancing as the ‘safety-first top city.’"
The government announced that it will pour about 65% of this year’s budget in the first half to revive the economy.
Seoul City and local governments must also prepare and execute emergency measures to overcome the economic crisis.
In particular, this year, careful consideration will be needed regarding real estate issues.
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