Gumi City Prioritizes Livelihood Economic Recovery... 'Support for Small Business Owners'

5th Emergency Economic Task Force Report Held for the 2nd Anniversary of the 8th Elected Term

Mayor Kim Jangho Announces Emergency Economic Initiatives and Vision Over Two Years

On the 1st, the city of Gumi, North Gyeongsang Province, held the “5th Gumi City Emergency Economic Measures TF Report Meeting” with the participation of over 160 people, including the Emergency Economic Measures TF Council, advisory committee members, and heads of institutions and organizations.

Gumi City held the 5th Emergency Economic Measures Task Force meeting.

This meeting looked back on the tasks identified and policies implemented by the Emergency Economic Measures TF over the past two years with an attitude of change and innovation, and shared opinions on future development strategies.

Mayor Kim Jangho personally presented the Emergency Economic TF projects directly related to public livelihood issues and the future vision that have been promoted during the two years of the 8th popularly elected administration.

He also communicated with various council and advisory committee members and heads of organizations in order to reinvigorate the Gumi economy, focusing on boosting the vitality of businesses, small business owners, and the self-employed, revitalizing the use of local companies, and responding to the low birthrate crisis.

The Emergency Economic Measures TF was the first policy initiative launched simultaneously with Mayor Kim Jangho’s inauguration for the 8th popularly elected administration. It has been operated with experts in each field to overcome difficult economic circumstances. So far, 225 projects have been identified across five sectors, with a total investment of 2.2334 trillion KRW focused on the public livelihood economy.

Efforts have laid the foundation for revitalizing the local economy through initiatives such as promoting the use of local companies, boosting the local construction industry, establishing an investment promotion fund, supporting card fees for small businesses, providing the nation’s first support for credit card terminal usage fees for small business owners, forming a low birthrate countermeasure TF team, and opening the Saemaeul Central Market night market.

In addition, by collecting diverse opinions from the council and advisory committee, the efforts of the implementing departments, and a shift in thinking through change and innovation, the city has implemented policies that citizens can feel, such as: expanding special guarantees and interest support for small businesses, supporting “Good Price Stores,” paid sick leave and legal counseling for vulnerable workers, and measures to promote the participation of local companies in large-scale festivals and events.

As a result, Gumi’s efforts to restore its economy are bearing fruit, with the designation of four major government special zones: the Semiconductor Materials and Components Specialized Complex (July 2023), Defense Industry Innovation Cluster (April 2023), Education Advancement Special Zone (February 2024), and most recently, the Opportunity Development Special Zone (June 2024).

Participants at the meeting reaffirmed their commitment by chanting slogans reflecting Gumi’s focus on revitalizing small businesses and the self-employed, promoting the use of local companies, and overcoming the low birthrate crisis. The event concluded with a unified call for public stability and economic revitalization.

One committee member remarked, “Since the beginning of the 8th popularly elected administration, Mayor Kim Jangho and many officials have brought about significant positive changes in Gumi over the past two years through a shift away from conventional thinking, showing meaningful indicators of economic revival. I hope you will continue to put forth great efforts for the next 10 years of Gumi’s future.”

Mayor Kim Jangho stated, “We will make every effort to resolve the difficulties faced by citizens by establishing a public livelihood economic management system through the Emergency Economic Measures TF, supporting small business owners and the self-employed who are facing hardships, and revitalizing stagnant local commercial districts. We are determined to restore Gumi’s reputation as a leader in national economic development.”