Mayor Kwon Oh-bong Reviews Local Economy Status Amid COVID-19 Crisis Response

26 Organizations, Groups, and Small Business Owners Share Support Details, Listen to Industry-Specific Damage and Difficulties, Seek Response Measures

Emergency Living Stabilization Funds Exclude Government and Provincial Matching, Identify Overloo

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Yeosu City, Jeollanam-do, has taken steps to assess the damage situation by industry, including small business owners facing a crisis due to the prolonged spread of COVID-19, and to seek solutions.

According to Yeosu City on the 21st, a meeting to review the local economic situation and countermeasures against COVID-19 was held at 3 p.m. on the 20th in the city hall conference room, with the participation of 26 institutions, organizations, and associations.

The meeting included representatives from nine institutions such as the Chamber of Commerce, Customs Office, Tax Office, and Employment and Labor Office; three financial institutions; the Federation of Small Businesses; the National Industrial Complex Managers Association; and 14 associations related to dining, lodging, tourism, and welfare, covering all sectors.

First, the city reported on the COVID-19 response measures implemented so far and explained the government supplementary budget and the support measures announced at the emergency economic meeting chaired by President Moon Jae-in on the 19th.

Following this, under the chairmanship of Mayor Kwon, the meeting collected difficulties and suggestions from various institutions affected by COVID-19 and proceeded to discuss mutual solutions to stabilize the livelihoods of small business owners and affected citizens and to revitalize the local economy.

In particular, Yeosu City attracted attention by swiftly moving to ensure that local industries receive maximum support benefits just one day after the government’s emergency economic meeting on the 19th announced an extraordinary emergency financial measure worth 50 trillion won to prevent the bankruptcy risk of small and medium enterprises, small business owners, and self-employed individuals and to resolve financial instability.

Mayor Kwon Oh-bong of Yeosu stated, “Regarding the disaster basic income support being considered by some local governments, since Jeollanam-do is positively reviewing it at the provincial level, our city will also positively consider matching city funds and actively identifying and including excluded or overlooked groups in the blind spots.”

He added, “The city is making every effort for rapid crisis response and recovery of the people’s economy, so let the entire local community stay strong and cooperate.”

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