Gangseo-gu Fully Implements 'Local Economy Stabilization Measures' Amid Emergency Situation

Gangseo Sarang Gift Certificate Discount Rate Expanded to 7%
Support for Small Businesses and Protection of Vulnerable Groups, etc.

Gangseo-gu, Seoul (District Mayor Jin Gyo-hoon) has prepared a comprehensive plan to stabilize people’s livelihoods in response to the economic crisis caused by the emergency situation and has begun full-scale implementation.

To stimulate local consumption, the district will expand the issuance of Gangseo Love Gift Certificates from the existing 40 billion KRW to 45 billion KRW and increase the discount rate from the original 5% to 7%. In the first quarter of next year, 18 billion KRW will be issued intensively to thaw the frozen consumer sentiment.

Jin Gyo-hoon, Mayor of Gangseo District. Provided by Gangseo District Office.

For small and medium-sized enterprises (SMEs) and small business owners struggling due to the economic crisis, the scale of loans supported by the SME Development Fund will be expanded from 6 billion KRW to 8 billion KRW, with ultra-low interest rates of 1.5% per annum.

For small business owners suffering from the economic downturn, repayment will be deferred for up to six months, and loan standards for low-credit small business owners have been significantly lowered through a special guarantee of 2.5 billion KRW.

Support for export companies will also be actively pursued. Through export consultation meetings inviting overseas buyers, 60 SMEs in the district will be given opportunities to develop sales channels, and 11 companies participating in domestic and international exhibitions will be supported.

To expand the use of Onnuri Gift Certificates, three additional alley-type shopping districts will be designated, and traditional market consumption will be revitalized through holiday events and special online discount sales.

In response to the economic downturn, jobs in the livelihood economy will also be greatly increased. In cooperation with major local companies such as Magok resident companies and aviation-related companies, job fairs will be held twice a year. Customized employment training programs for a total of 150 people will be operated in various fields such as security, airport security screening, and hospital work assistance to expand employment opportunities for residents. Additionally, a total of 6,078 jobs will be created, including 5,343 jobs for seniors, 424 companion jobs, and 311 jobs for people with disabilities.

Winter support funds of 50,000 KRW per month will be provided to 19,400 households eligible for basic livelihood and medical benefits, and customized health management will be conducted for 11,039 vulnerable health groups such as elderly living alone.

Proactive welfare response using big data is also notable. By analyzing 46 types of crisis information such as power outages, water outages, and gas outages, welfare blind spot households will be identified, and crisis households will be promptly supported through the Our Neighborhood Care Team and Smart Check-in Service.

In addition, the district will stabilize the local economy and support residents to live peaceful daily lives through revitalizing the tourism industry and rapid budget execution. To actively attract foreign tourists, tourism information functions will be strengthened. The tourism information boards and maps will be expanded from the existing Korean-English bilingual to include Chinese and Japanese as well. Furthermore, new tourism content such as traditional market tourism courses and tours of award-winning buildings in the district will be developed.

Next year’s budget will be concentrated in the first quarter, even within the first half of the year. In particular, budgets for vulnerable groups and small business support will be prioritized, and the speed of financial execution has been increased by shortening the periods for emergency bidding and private contracts.

District Mayor Jin Gyo-hoon expressed strong determination, saying, “The unprecedented economic challenge we are facing now is a task that we all must overcome together. We will focus all administrative power on safety, economic revitalization, and people’s livelihoods to protect the daily lives and living of our residents.”