Daegu City, Emergency Management Support for Companies Affected by Novel Coronavirus

On the afternoon of the 4th, Daegu City held an emergency meeting on the local economy related to the novel coronavirus at the City Hall annex, chaired by Lee Seung-ho, Deputy Mayor for Economic Affairs, along with related organizations and business officials. (Photo by Daegu City)

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] Daegu City announced on the 4th that it will provide emergency management stabilization funds of 20 billion KRW to local companies affected by the spread of the novel coronavirus infection (Wuhan pneumonia).

On the same day, the city held an emergency local economy countermeasure meeting at the city hall annex, chaired by Deputy Mayor of Economy Lee Seung-ho, and made this decision. The implementation of a special guarantee product through the Credit Guarantee Foundation will also be considered.

Mayor Kwon Young-jin plans to meet with heads of local financial institutions to request flexible credit management to alleviate corporate funding difficulties.

The city is reviewing early issuance of local love gift certificates (issuance amount 30 billion KRW) and expansion of discount rates to support small business owners, and is promoting tourism publicity to replace Chinese tourists.

In addition, in cooperation with the Daegu-Gyeongbuk KOTRA support team and the Daegu-Gyeongbuk regional headquarters of the Korea International Trade Association, the city plans to hold video consultations with Chinese counterparts or expand export consultation meetings inviting regions outside China.

The city identified 50 local companies that have established corporations in China, 1,583 export companies, and 34 companies advancing in the machinery and automobile sectors.

This content was produced with the assistance of AI translation services.