Geumcheon G-Valley Love Gift Certificates Issued for 23 Billion KRW
Geumcheon-style Special Interest-Free Loans for Small Businesses 21.2 Billion KRW
Support for Traditional Markets and Shopping District Revitalization 100 Million KRW
SME Development Fund 5 Billion KRW (0.8% Interest), SME Market Expansion Support 500 Million KRW
Geumcheon-gu (Mayor Yu Seong-hoon) announced that it has allocated a budget of 51.7 billion KRW to revitalize the local economy in 2025.
In a politically turbulent situation, the district has allocated the budget to support small business owners, traditional markets and alleyway commercial districts, and small and medium-sized enterprises (SMEs) to help recover the livelihood economy.
To increase sales of small business owners in the area, the issuance scale of the Geumcheon G-Valley Love Gift Certificate with a 5% discount rate was increased from 20 billion KRW last year to 23 billion KRW this year.
In particular, 9 billion KRW (39%) will be issued in January, and an additional 5 billion KRW will be issued monthly from February to June, totaling 14 billion KRW (60%) to be intensively supported in the first half of the year.
Also, the Geumcheon public delivery app gift certificate "Ttaenggyeoyo" will be issued in the amount of 900 million KRW to reduce the delivery fee burden on small business owners. Consumers can receive a 15% discount when ordering delivery from local restaurants and markets, and affiliated stores can ease delivery operation difficulties with a 2% commission fee, which is much cheaper than the average 10% commission fee of major delivery apps.
To resolve financial difficulties caused by worsening management, the Geumcheon-type special interest-free loan support project for small business owners, which has been underway since last year, will continue this year. Loans worth 21.2 billion KRW will be provided to small business owners for one year.
Additionally, 10,000 KRW will be additionally credited to the Yellow Umbrella Hope Incentive, a public system for small business owners, to promote their livelihood stability.
To improve the management environment of small business owners, the district will directly visit sites to provide business information, offer customized consultations, and support facility improvement costs. It also plans to support comprehensive air conditioner cleaning costs for fire prevention for micro small business owners.
A budget of 100 million KRW has been allocated to operate events such as night markets, prize draws, and price discount events targeting four traditional markets and six shopping districts to support attracting new customers and increasing sales.
Budgets have also been allocated for the ‘SME Management Stabilization Project’ through SME development funds and technical support, and for ‘SME Domestic and Overseas Market Development Support’ including group participation in overseas exhibitions and hosting export consultation meetings.
To assist SMEs struggling with high inflation and high interest rates, loans worth 5 billion KRW will be provided. The application limit per company is 100 million KRW, and the interest rate will be operated at 0.8%, the lowest among the 25 autonomous districts.
In addition, 250 million KRW has been allocated for customized corporate design development support, and 120 million KRW for technical support to promote the development of advanced innovative products.
A budget of 382 million KRW has been allocated to support rental fees for exclusive booths and airfare for companies participating in overseas exhibitions, 90 million KRW for participation in advanced industry exhibitions, and 40 million KRW for hosting export consultation meetings inviting overseas customers (buyers).
Yu Seong-hoon, Mayor of Geumcheon-gu, stated, “We will set revitalizing the local economy as the top priority task for 2025,” and added, “We will spare no support for innovative corporate activities in the G-Valley Industrial Complex and for stabilizing traditional markets and alleyway commercial districts.”
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