Gangnam-gu Holds a Series of On-Site Communication Meetings with SMEs and Small Business Owners

Meeting with K-beauty and Service Industry Workers Scheduled for October 1

Gangnam-gu in Seoul (headed by District Mayor Cho Sungmyung) announced on September 29 that it is continuing to hold “on-site communication meetings” to hear the real voices of small and medium-sized enterprises (SMEs) and small business owners. The first meeting with representatives from the wholesale and retail sectors was held on September 5, and the second meeting, targeting those working in the K-beauty and service industries, is scheduled for October 1.

Commemorative photo after the economic revitalization meeting on the 5th. Provided by Gangnam District.

This series of meetings was planned to directly listen to issues faced in the field amid a prolonged economic downturn and rapidly changing consumption patterns, and to develop measures to revitalize the local economy. The focus is on immediately translating on-site feedback into policy improvements through tailored discussions that reflect the unique characteristics of each industry.

During the 10 “economic revitalization meetings” held in the first half of the year, practical support measures were introduced, including management consulting for small business owners, employment incentives for businesses with fewer than five employees, and facility improvement support for hygiene-related businesses. Support for SME loans was also enhanced by expanding eligibility, allowing re-lending, and establishing a system for ongoing applications, which received positive feedback from the field.

In the second half of the year, a total of four meetings will be held: the first for wholesale and retail (September 5), the second for K-beauty and service industries (October 1), the third for the pet industry (October 15), and the fourth for small business owners in local commercial districts (October 17). The K-beauty sector, in which Gangnam-gu ranked first nationwide in cosmetics export volume last year, is a highly competitive industry. The upcoming meeting will focus on strategies for expanding into global markets and revitalizing the local beauty industry ecosystem.

As the pet industry emerges as a future growth engine, the meeting will serve as a venue to explore related policies and ways to foster cooperation within the industry. The meeting for local commercial districts will mainly address measures to revive struggling local economies and boost livelihoods.

Cho Sungmyung, Mayor of Gangnam-gu, stated, “The core goal of these meetings is to create changes that SMEs and small business owners can truly feel,” adding, “We will do our utmost to connect on-site feedback to concrete policies for stabilizing livelihoods and revitalizing the local economy.”