District Mayors Hold Meetings and Field Visits
to Revitalize the Local Economy Amid Growing Uncertainty
Yuseonghun, Jung Wono, and Park Heeyoung Lead Efforts
to Support Small Businesses and Listen to Merchant Concerns
As economic uncertainty and weakened consumer sentiment deepen difficulties in the livelihood economy, Seoul district mayors continue their efforts to revive the local economy.
On the afternoon of the 17th at 4 p.m., Yuseonghun, Mayor of Geumcheon District, held the ‘Geumcheon District Livelihood Economy G-Valley Business Leaders On-site Meeting’ at the Korea Zeffran conference room located in G-Valley.
The meeting was attended by 10 representatives of companies representing G-Valley, including CES (Consumer Electronics Show) Innovation Award-winning companies, youth enterprises, and women-led businesses, along with representatives and officials from related organizations such as the Geumcheon District Chamber of Commerce, Korea Industrial Complex Managers Association Seoul (KIBA Seoul), and Seoul Business Agency.
The meeting’s theme was set as ‘Reviving the Livelihood Economy Amid the Impeachment Political Crisis,’ during which the difficulties faced by business leaders were heard. Afterwards, the business support policies planned for this year were shared with the entrepreneurs, providing an opportunity for communication.
Kim Jaeyoung, CEO of Otitone Medical, suggested, “Small and medium-sized enterprises are facing difficulties such as delays in overseas certification procedures.” Kim Taehee, CEO of Afps, said, “There is a need to expand support for participation in overseas exhibitions and promotional support to attract buyers’ interest.”
Yuseonghun, Mayor of Geumcheon District, responded, “We will prepare measures such as applying jointly for overseas certification support at the district level and forming advisory groups, and actively consider expanding support for overseas exhibitions.”
The district is making every effort to support small and medium-sized enterprises and small business owners to help recover the livelihood economy.
From January 13 to 17, Mayor Yuseonghun visited traditional markets and shopping districts in the area, including Nammun Market, Hyundai Market, Court Complex Road, Doksan-dong Woo Market, Ginkgo Market, and Jeonghun Hanmaeum Alley Market, to listen to merchants’ difficulties and opinions.
With the lowest interest rate in autonomous districts (0.8%), the district provides loans worth 5 billion KRW for small and medium-sized enterprises, supports participation in advanced industry exhibitions, and pioneers export consultation meetings. For small business owners, it offers special interest-free loans worth 21.2 billion KRW under the Geumcheon-type small business owner support program, issues Geumcheon G-Valley Love Gift Certificates worth 16 billion KRW, and runs a delivery fee support project worth 900 million KRW.
Yuseonghun, Mayor of Geumcheon District, said, “I hope today’s meeting will serve as an opportunity to establish practical support measures for the recovery of the livelihood economy and revitalization of the local economy,” adding, “Despite the difficult economic conditions, we will do our best to support small and medium-sized enterprises and small business owners so that G-Valley, traditional markets, and shopping districts can fulfill their roles as the center of the local economy.”
Jung Wono, Mayor of Seongdong District, will visit traditional markets and shopping districts from the 16th to the 24th to encourage merchants and listen to their difficulties. The purpose is to directly hear vivid voices from the field and reflect them in district administration to provide practical help to market merchants struggling with ongoing price increases and economic recession.
On January 16, he visited Majang Livestock Market; on the 20th, Shingumho Station Alley Shopping District and Geumnam Market; on the 21st, Ttukseom Station Shopping District and Ttukdo Market; on the 22nd, Seongsu Station Alley Shopping District and Songjeong Cherry Blossom Alley Shopping District; on the 23rd, Yongdap Shopping Market, Sageun Salgoti Alley Shopping District, and Hanyang University Front Shopping District; and on the 24th, Wangsimni Muhakbong Shopping District, Haengdang Market Shopping District, and Wangsimni Doseondong Shopping District. He plans to actively communicate with merchants and residents visiting traditional markets.
Jung Wono, Mayor of Seongdong District, said, “The opinions of merchants and residents gathered through market visits will be actively reflected in district policies, and continuous efforts will be made to revitalize the local economy.”
Park Heeyoung, Mayor of Yongsan District, visited major local alley commercial areas on the 17th to encourage merchants struggling with the economy weakened by the emergency martial law situation and to inspect the livelihood sites.
Due to the prolonged economic recession and emergency martial law, consumer sentiment has been greatly weakened, intensifying difficulties for self-employed and small business owners. Mayor Park conducted this on-site visit to directly understand the situation and listen to the voices of merchants. On that day, he visited local alley commercial areas in sequence, including Namyeong-dong Food Alley, Quinon Street, Haebangchon, Sunheon Hwangguibi-gil, and Yongmaru-gil, to hear merchants’ opinions and experience the situation firsthand.
A merchant in Haebangchon said, “The year-end is usually a peak season for business, but due to this situation, small business owners and self-employed people are suffering significant economic damage,” adding, “I hope the situation stabilizes quickly and the frozen economy recovers.”
The district plans to implement livelihood economy stabilization and price stabilization measures for small business owners and the self-employed, including rapid support for small and medium-sized enterprise development funds, early issuance of Yongsan Love Gift Certificates, issuance of Itaewon Commercial Area Recovery Gift Certificates, measures to revitalize consumption in traditional markets, and focused crackdowns on price instability and illegal or fraudulent activities.
Mayor Park Heeyoung said, “It is very regrettable that greater damage has been caused by this situation,” and added, “We will do our best to communicate with merchants and prepare support measures at the district office level.”
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