Gwanak-gu Selected as Best Local Government for 'Local Price Stability Management'

Selected as the Best Institution (Grade A) in Evaluation of 243 Local Governments Nationwide by Ministry of the Interior and Safety... Secured Special Subsidies
High Praise for Operating 'Price Stabilization Task Force' During Holidays and Seasonal Peak Periods with High Resident Demand
Full Efforts for Price Stability Including Activation of Good Price Businesses and Operation of Price Management and Illegal Commercial Activity Inspection Teams

Gwanak-gu (District Mayor Park Jun-hee) was selected as the Best Institution (Grade A) in the ‘2024 Local Price Stability Management Evaluation’ conducted by the Ministry of the Interior and Safety.

The Ministry of the Interior and Safety comprehensively evaluates 243 local governments nationwide based on 12 indicators across 5 areas: ▲local public utility price stability management ▲support for activating Good Price Stores ▲personal service fee inflation rate ▲efforts to stabilize local prices, and more.

The district, which was selected as an Excellent Institution (Grade B) in the second half of last year, rose one grade to Best Institution this year, securing a special grant of 50 million KRW.

In response to the ongoing high inflation, the district received high evaluations for implementing timely price stabilization measures.

First, a ‘Price Stabilization Task Force’ was organized and operated according to each period such as holidays, summer peak season, and winter kimchi-making season.

The Price Stabilization Task Force worked to stabilize prices during periods of high demand by residents and to establish a sound distribution order through ▲special guidance and crackdowns on overcharging ▲monitoring price trends of seasonal popular products ▲guidance and crackdowns on unfair trade practices.

In particular, to activate ‘Good Price Stores’ that contribute to price stability, the district provided multifaceted support including ▲expanding the designation of Good Price Stores (from 88 to 119 stores) ▲holding review events for Good Price Store usage in the first and second half of the year ▲budgeting for additional incentives.

Recently, to prepare for domestic economic downturn and price instability due to the emergency situation, the district has been operating a ‘Price Management and Illegal Trade Guidance and Inspection Team’ to fully focus on stabilizing the livelihood economy.

District Mayor Park Jun-hee said, “In these difficult times of high interest rates, high prices, and high exchange rates, our district and residents’ efforts to stabilize livelihoods and revitalize the local economy have yielded good results. We will continue to strive for both price stability and domestic demand activation and do our best to recover the livelihood economy.”