Pyeongtaek City Receives Minister of SMEs and Startups Commendation for Small Business Support Policy

Recognition for Establishing a Systematic and Professional Support Framework

Pyeongtaek City in Gyeonggi Province announced on the 3rd that it received a commendation from the Minister of SMEs and Startups in recognition of its contributions to fostering small business owners and revitalizing traditional markets.

Jeong Jang-seon (left), Mayor of Pyeongtaek, is holding up the Minister of SMEs and Startups Commendation received for the small business promotion policy.
[Photo by Pyeongtaek City]

The city explained that it received high evaluations for its policy support, such as establishing legal grounds for stabilizing small business management and revitalizing local commercial districts by enacting the 'Ordinance on the Protection and Support of Small Business Owners' and the 'Ordinance on the Establishment and Operation of the Cooperative Fund for the Low-Income Economy' since 2021 to respond to worsening business conditions due to high inflation.

Along with this, the city expanded the rights and status of small business owners by establishing related organizations such as the 'Pyeongtaek Small Business Support Center' and the 'Pyeongtaek Small Business Association,' and also built a systematic system by creating the 'Traditional Market Team' through an administrative organization reorganization in January last year.

In particular, since 2011 until this year, the city has supported special guarantees for small business owners amounting to 14.6 billion KRW, and from this year, it has also been providing interest subsidies to small business owners struggling with interest repayments. To promote the use of local currency, the city provided 11 billion KRW in 2022 and 4 billion KRW last year as consumer support funds from the city budget.

Additionally, the city has actively supported various public contest projects for five traditional markets and alley commercial districts, carrying out diverse projects such as modernization, environmental improvement, manager support, and growth support.

Jung Jang-seon, Mayor of Pyeongtaek, said, "We will continue to prepare support measures that can provide practical help to traditional markets and small business owners and do our best to overcome the crisis together."