Seongdong-gu Revitalizes Local Economy with Seongdong Sarang Gift Certificates and Ttaenggyeoyo Delivery App

45 Billion Won in Loans from SME Promotion Fund Provide Financial Relief...
250 Billion Won Worth of Seongdong Sarang Gift Certificates Issued,
Boosting Consumption Through the Public Delivery App 'Seongdong Ttaenggyeoyo'

Seongdong-gu in Seoul (District Mayor Jeong Won-oh) announced that it is actively pursuing five key initiatives as its top priority to achieve tangible recovery of the local economy, in response to prolonged high inflation and economic stagnation.

First, during the first half of this year, the district provided a total of 4.5 billion won in loans to small and medium-sized enterprises and small business owners. This amount is an increase of 1 billion won compared to the previous year. The loan limit for small business owners was also raised from 50 million won to 100 million won, aiming to stabilize business operations.

To revitalize the local economy and stimulate consumption, Seongdong-gu issued Seongdong Sarang Gift Certificates worth 20 billion won in January for the Lunar New Year, and an additional 5 billion won in April to mark Family Month.

In particular, starting this year, the district increased benefits by offering a 5% discount when purchasing the gift certificates and a 2% payback (rebate) on the amount used, providing a maximum discount effect of 7%.

The district is also making every effort to promote the use of the public delivery app 'Seongdong Ttaenggyeoyo.' Franchisees only need to pay a relatively low 2% commission fee and can benefit from free registration, advertising, and monthly usage fees. Consumers can enjoy a 15% discount and a 30% year-end income tax deduction at the same time.

The 'Seongdong-type Artterior' project, which utilizes artists' talents to improve the interior and exterior design of small business stores, is also gaining momentum. The scope of support has been expanded from 36 stores last year to a total of 60 stores this year, including 13 traditional markets and shopping districts in the area.

Projects to improve the working environment in the five major urban manufacturing sectors?apparel and sewing, machinery and metal, printing, jewelry, and handmade shoes?are also underway. This initiative supports equipment and facilities to eliminate hazards in manufacturing workplaces and improve working conditions, thereby increasing productivity. This year, the maximum support per business has been increased by 4 million won compared to last year, up to 9 million won per business (with business owners responsible for 10% of the improvement costs).

Jeong Won-oh, Mayor of Seongdong-gu, stated, "We are rapidly implementing practical support policies to stabilize the local economy," and added, "We will continue our efforts to provide various forms of support that directly help residents in their daily lives, so that we can overcome the economic crisis wisely."