Ryugyeonggi Jungnang-gu Mayor Supports Small Business Owners Reflecting On-site Voices

Support Fund up to 1 Million Won for Multi-use Facility Closures... Childcare Center Operating Cost Support, Remote Learning Support for Low-income Students, Traditional Market Support Projects... Full Waiver of Food Waste Disposal Fees, Expanded Emergency Funding and Loan Interest Rate Reduction

[Asia Economy Reporter Jong-il Park] Jungnang-gu (Mayor Ryu Kyung-gi) is promoting various support measures for local small business owners who are struggling due to the domestic economic downturn caused by COVID-19 and social distancing.

The district announced that it will implement small business support policies focusing on suspension support funds, operating expense support, and loan interest rate reductions.

Prior to the announcement of the support policies, the district held a small business owners' meeting chaired by the deputy mayor on the 31st of last month to listen to difficulties and decided to proceed with eight projects totaling approximately 6.1 billion KRW.

In particular, the district is determined to revive the local economy by discovering projects that residents can directly feel the benefits of.

First, a suspension support fund of 100,000 KRW per day, up to a maximum of 1 million KRW, will be provided to multi-use facilities that voluntarily suspend operations for five or more consecutive days due to social distancing.

The target facilities include 1,434 locations such as academies and private institutes, indoor sports facilities, karaoke rooms, and PC rooms, with applications accepted until the 17th.

Additionally, operating expenses of up to 1.5 million KRW per facility will be supported for 223 daycare centers experiencing operational difficulties due to a decrease in childcare children, and an additional 200,000 KRW for cook salaries will be provided to 58 daycare centers not supported by the government to ensure stable employment and improve childcare quality.

Education for vulnerable groups who may be excluded due to online school openings was also carefully considered. The district will invest 600 million KRW to support 4,255 low-income students attending elementary, middle, and high schools in the area with smart devices such as tablet PCs, in cooperation with Seoul City and the Education Office, to facilitate smooth remote learning.

Traditional markets will also be revitalized. The district announced support totaling about 120 million KRW, including 5 million KRW for self-payment for traditional market facility modernization projects, 45 million KRW for commercial infrastructure operating expenses, and 65 million KRW for environmental improvement costs for the newly registered Jangmi Jeil Market. Usage fees for consigned public parking lots will also be adjusted by market in terms of timing and scope for reductions.

Small restaurants will also receive support. The district plans to alleviate the economic difficulties of 4,450 small restaurants under 200㎡ by reducing food waste disposal costs for six months.

Along with this, emergency support for small and medium enterprise development funds will be increased from the existing 2.2 billion KRW to 5.2 billion KRW, and special credit guarantee loans will be increased from 1.9 billion KRW to 9.4 billion KRW.

Loan principal maturity will be extended up to six months, and loan interest rates will be temporarily reduced from the existing 1.5% to 0.8%.

Furthermore, with a budget of 238 million KRW, an additional 100,000 sets of ‘National Safety Masks’ will be distributed to seniors aged 65 and over, and masks and hand sanitizers will be distributed to major religious facilities.

Ryu Kyung-gi, Mayor of Jungnang-gu, stated, “To resolve the local economic difficulties caused by COVID-19, it is important to listen directly to voices from the field and provide prompt support,” adding, “We will do our best to revitalize the local economy along with thorough responses for quarantine and prevention of spread.”

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