"Let's Gather Ideas for Restoring the People's Economy"... Pohang City Prepares Economic Revitalization Measures

Regional Key Industry Crisis and Political Instability

All-in on Revitalizing Local Economy and Discovering Countermeasures

Pohang City has begun full-scale preparations to overcome the local economic difficulties caused by the crisis in the region's key industries and political instability.

On the 19th, Pohang City held a public livelihood stabilization measures meeting at City Hall, chaired by Vice Mayor Jang Sang-gil. Photo by Pohang City

On the 19th, Vice Mayor Jang Sang-gil presided over a meeting on measures to stabilize people’s livelihoods, urging all efforts to generate ideas for discovering practical projects as follow-up measures for stabilizing the local economy and community.

Vice Mayor Jang instructed each department to prepare detailed plans in three major areas?revitalizing the local economy during the year-end and New Year period, promoting tourism, and swiftly advancing public projects.

Since the 9th of this month, Pohang City has been prioritizing the stabilization of people’s livelihoods by operating a local livelihood stabilization task force, spreading a sound consumption culture, expanding financial support for small business owners, and strengthening care for marginalized groups.

Vice Mayor Jang Sang-gil stated, “Due to the sluggishness of steel and secondary battery companies and the uncertainty of domestic political and economic conditions, the economic difficulties faced by local residents are intensifying more than ever. I hope that all administrative resources of each department will be mobilized to minimize citizens’ anxiety and to prepare practical measures that will breathe warmth into the local economy.”

Pohang City plans to hold another meeting early next week to stabilize the local economy, gather detailed ideas from each department, and prepare practical measures to revitalize the regional economy.