Small Business Card Sales in Gyeongnam Jump to Last Year's Level in May

June Consumer Boom-Up Event Plan

Sales Trend Chart of Small Business Owners' Card Transactions in Gyeongnam Province (Photo by Gyeongsangnam-do)

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongnam Province announced on the 25th that sales of small business owners in the province have gradually recovered from the continuous decline and increased to the same level as the previous year in May.

According to an analysis by Korea Credit Data, card sales of small business owners in the province recovered to about 90% compared to the same period last year from the third week of April, when the Gyeongnam-type emergency disaster relief fund began to be distributed, and recorded 106% compared to the same period last year in the second week of May, surpassing sales of the same period last year.

This recovery in card sales and consumption of small business owners in the province is attributed to the Gyeongnam-type emergency disaster relief fund distributed from the 23rd of last month, the government disaster relief fund distributed from the 13th of this month, and the transition to social distancing in daily life.

In addition, a survey on changes in sales of small business owners conducted by Gyeongnam Province showed that the average perceived sales increase rate after the emergency disaster relief fund support was about 14%, with the highest increase rates in traditional markets (57.1%), floriculture (28.2%), and beauty services (25.6%), respectively.

Governor Kim Kyung-soo said, "It is a great help that the residents quickly spend the disaster relief funds," and added, "Economy is largely influenced by sentiment, and since we have confirmed the economic recovery trend through small business sales data, we will prepare additional measures."

Meanwhile, the province plans to hold consumer boom-up events in June, such as the Gyeongnam Alley Small Business Owners Festival and simultaneous sale fests at traditional markets to stimulate domestic demand for small business owners.

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