Promoting Practical Strategies
for Livelihood and Growth
On July 7, Gangnam District in Seoul announced that it has identified 24 new local economic revitalization projects to inject vitality into the stagnant local economy and lay the foundation for future growth.
Jung Myung Cho, Mayor of Gangnam District, is speaking at the Economic Revitalization Meeting. Provided by Gangnam District.
The 24 key projects include: support for small business management consulting; employment incentives for small businesses (providing 1.5 million won per person to small business owners who maintain employment for more than three months after new hiring); development of tourism package products linked to the Gangnam Festival; matching 16 companies and institutions near Samseong-dong GBC with 41 restaurants; offering and promoting "Gangnam Together Store" discount coupons via the Kakao channel; expanding tax consulting services to traditional markets; linking talent donations from the new senior generation with local gift certificate rewards; securing public rental facilities within station areas and offering them at affordable rates; and supporting the digital transformation of small and medium-sized enterprises using artificial intelligence (AI) and robotics.
Among these, Gangnam District has focused on the "management consulting system," which reflects the voices of small business owners who face difficulties utilizing available systems due to lack of information and complex administrative procedures.
This initiative was identified as a key task during ten economic revitalization meetings held from March to June. It was designed to improve policy accessibility and effectiveness for small businesses. Under this system, management consultants guide small business owners through various support programs offered by national, metropolitan, and local governments, and provide one-on-one customized consulting covering all aspects of management, including application writing, tax, marketing, and operational strategies.
Among the projects, non-budget initiatives such as "Gangnam Together Store" and "Matching Companies and Restaurants near Samseong-dong GBC" are already underway, while others?such as "management consulting" and "small business employment incentives"?will be implemented in the second half of the year after reflecting the supplementary budget. The remaining projects will be promoted sequentially after next year's budget is set and discussions with relevant departments are completed.
These projects were selected as a result of a policy idea contest for local economic revitalization held in April, targeting all district offices and local community centers within Gangnam. The selected tasks reflect the unique characteristics of the area as a high-cost commercial district and aim to support the management stability and sales growth of small businesses.
The initiatives include practical support measures to reduce the cost burden for small business owners, marketing strategies that combine digital and offline approaches, and strengthened customized consulting, offering a range of policies that seek both livelihood recovery and future growth.
Jung Myung Cho, Mayor of Gangnam District, stated, "These new local economic revitalization projects are centered on practical support measures that residents can truly feel," adding, "We will develop them into sustainable policies tailored to Gangnam's unique characteristics and on-site needs, not just as short-term solutions."
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