[Interview] Park Junhee, Gwanak-gu Mayor, "Leap Forward as an Innovative Economic City, Gwanak"

9.715 trillion KRW budget for 2023…131 billion KRW allocated for economy and job sectors

Accelerating the promotion of 'Gwanak S-Valley 2.0', strengthening support for small business owners and self-employed, creating quality jobs, etc.

Building a clean living environment on a developed economy, realizing spatial welfare, and making Gwanak a happy place for residents

[Asia Economy Reporter Park Jong-il] “In 2023, we will vigorously move forward together with 500,000 Gwanak residents to create policy outcomes that residents can truly feel and to build a ‘Greater Gwanak, Happier Gwanak.’”

In a New Year interview marking the Year of the Black Rabbit (Gyemyo Year, 癸卯年), Park Jun-hee, Mayor of Gwanak District, explained the direction of the district administration this year. Mayor Park named responding to the ‘three highs’ phenomenon of high inflation, high interest rates, and high exchange rates as the first goal, aiming to build a stronger, greater economy and leap forward as an ‘innovative economic city.’

Since the 7th local government term, Mayor Park has positioned himself as an economic mayor, dedicating full efforts to building a strong economy based on coexistence and innovation. This year, he plans to further develop the foundation and achievements made. The Gwanak District budget for this year is 971.5 billion KRW, an increase of 65.8 billion KRW compared to last year. Of this, 13.1 billion KRW is allocated to the economy and job sectors to quickly recover the stagnant local economy.

First, by promoting 'Gwanak S-Valley 2.0,' the district aims to realize a Korean-style Silicon Valley and actively foster the startup ecosystem. Through feasibility studies and basic plan establishment conducted by specialized agencies, a business model tailored to Gwanak’s circumstances will be derived. The establishment of the ‘Gwanak Small and Medium Venture Promotion Agency’ will be actively pursued, along with the creation of startup support funds, scaling up startups, and expanding investment and commercialization funding support for companies located in the region.

Mayor Park stated, “We are continuously expanding startup infrastructure, including additional startup facilities in Daehak-dong and designing youth venture startup spaces around Seoul National University Venture Town Station. Since the designation of the Venture Business Promotion Zone in January last year has accelerated project implementation, we are confident that under the name 'Gwanak S-Valley 2.0,' we will attract more than 1,000 venture companies.”

Since job creation is the core of revitalizing the local economy, the district plans to take the lead in creating many good jobs. The job creation target for Gwanak District this year is 10,800, of which about 6,700 are customized public jobs provided to vulnerable employment groups.

With the successful promotion of Gwanak S-Valley 2.0, quality jobs will increase, and as excellent young talent continues to flow in, Gwanak District is expected to gain new momentum and grow to the next level.

The district also carefully manages local economies such as neighborhood commercial districts and traditional markets, which are the capillaries of the local economy, to foster a mutually beneficial local economy. Support for five neighborhood shopping districts, including Gangnam Neighborhood Market and Yeongnim Market, designated as neighborhood shopping districts last year, will be strengthened, and neglected commercial areas will be continuously discovered and developed into competitive shopping districts.

A total of 3 billion KRW will be additionally invested over the next four years in 10 major neighborhood commercial areas to create distinctive themed alleys linked with local resources, fostering self-sustaining commercial areas. The Starlight Sinsari Commercial District Renaissance project, investing a total of 8 billion KRW over five years in Shinwon Market, Gwanak General Market, and Seowon-dong shopping district, will also be steadily promoted.

Furthermore, policies that support small business owners facing difficulties, such as modernization of traditional market management and facilities and issuance of Gwanak Love Gift Certificates, will continue.

“Most businesses in our district have fewer than 10 employees, and small business owners form the backbone of the local economy. Since the beginning of my term, I have been committed to revitalizing neighborhood commercial districts with the mindset of ‘I will do anything that helps small business owners, even if it’s just 10 won,’” emphasized Mayor Park.

In addition, the district will accelerate the Starlight Naerimcheon landmark project, which has very high resident satisfaction, and develop 24 neighborhood parks on the slopes of Gwanak Mountain into three specialized zones to create a pleasant and clean ‘clean living environment’ where people and nature harmonize.

This year, the ‘Gwanak District Disabled Center’ and the ‘Senior Citizens’ Hall & 50 Plus Center’ are nearing completion, and public parking lots, which are in highest demand by residents, will be continuously expanded to realize spatial welfare that residents desire and to build a livable premium city.

Mayor Park Jun-hee said, “I believe the most important value in life is ‘happiness.’ We will do our best to raise residents’ quality of life and happiness index through policies that residents can feel, creating a ‘Gwanak where residents are happy and prosperous.’”