Ulsan City and Federation of Korean Trade Unions Join Forces to Revitalize Local Commercial Districts

Agreement to Revitalize Local Commercial Districts Signed on the 31st
Worker Participation Expected to Boost Local Economic Vitality

Ulsan City has joined hands with the Ulsan Regional Headquarters of the Federation of Korean Trade Unions to help revitalize the local economy.

On July 31, at 10:40 a.m., the city will sign a 'Business Agreement for Revitalizing Local Commercial Districts' in the main conference room on the second floor of City Hall's main building.

This signing ceremony will be attended by Mayor Kim Du-gyeom, Kim Chung-gon, head of the Ulsan Regional Headquarters of the Federation of Korean Trade Unions, as well as numerous representatives from industrial unions. The labor community and the local government are joining forces to take collective action for local economic revitalization.

The core of the agreement is to encourage Ulsan's workers to voluntarily participate in local consumption and to expand the use of local currency, thereby breathing new life into the struggling neighborhood commercial districts.

This is particularly noteworthy as it can provide substantial support to local small business owners who are suffering a double blow from the economic downturn and rising prices in the aftermath of the COVID-19 pandemic.

Mayor Kim Du-gyeom stated, "This agreement is both a promise for economic recovery and a starting point for mutual prosperity created by the labor community, small business owners, and citizens together. I hope that everyone will participate to protect the local economy."

Chairman Kim Chung-gon said, "Through the voluntary participation of union members, we can support local small business owners and further revitalize the local economy through the virtuous circulation of funds within the region."

Ulsan City Hall.