Why Did Mapo-gu Raise Funds to Support Street Vendors' Independence?

Support for Street Vendor Operators in the Area with Living Stability Fund Loans, Educational Support, and Facility Renovation Costs... Securing Pedestrian Rights and Improving Urban Aesthetics through Street Vendor Maintenance

[Asia Economy Reporter Jongil Park] Mapo-gu (Mayor Yudonggyun) is establishing and operating the 'Street Vendor Self-Reliance Support Fund' this year to support the self-reliance of street vendor operators in the area and create a more pleasant street environment in Mapo.

In December last year, the district enacted the 'Ordinance on the Establishment and Operation of the Mapo-gu Street Vendor Self-Reliance Support Fund' to provide institutional grounds for offering self-reliance opportunities to livelihood-type street vendor operators. In April, through the preparation of the 'Enforcement Rules for the Ordinance on the Establishment and Operation of the Mapo-gu Street Vendor Self-Reliance Support Fund,' the operation of the fund was officially launched.

Through this fund, livelihood-type street vendor operators can receive support such as living stabilization loans for real estate rent for new business operations, education support expenses for career changes, and renovation costs for aging facilities.

Support from the Street Vendor Self-Reliance Support Fund targets livelihood-type street vendor operators who have been registered residents in the district for more than one year and whose total assets of the operator and spouse are less than 300 million KRW.

The support scale includes living stabilization loans of up to 20 million KRW per household, with a one-year grace period and three years of equal installment repayment, allowing lump-sum repayment within the period. Education support expenses are provided up to 3.5 million KRW per household if education is received from the Ministry of Employment and Labor or affiliated institutions. Facility renovation costs will be supported up to 2.5 million KRW per household, assuming a 50% burden by the operator.

The district expects that the establishment of this Street Vendor Self-Reliance Support Fund will not only empower street vendor operators to become self-reliant but also lead to the maintenance of streets and street vendors, securing pedestrian rights for residents and significantly improving urban aesthetics.

Yudonggyun, Mayor of Mapo-gu, said, "The basic direction of operating this fund is to provide support funds to street vendor operators to create a better living environment in Mapo." He added, "We will do our best to create a city where both operators and residents can coexist."

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