Dongdaemun-gu Forms Local Council to Revitalize Regional Economy

On the 20th at 2 PM, a public-private-academic cooperation agreement ceremony was held in the Planning Situation Room on the 5th floor of the district office... Seoul Credit Guarantee Foundation, Kyung Hee University, Hana Bank, and the Small Business Association join hands to resolve management difficulties for small enterprises and small business owners

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) has launched a council to support small businesses and small merchants struggling with management difficulties due to COVID-19.

On the 20th at 2 p.m., at the Dongdaemun-gu Office Planning Situation Room, Mayor Yoo Deok-yeol, Han Jong-gwan, Chairman of the Seoul Credit Guarantee Foundation, Nam Soon-geon, Director of Kyung Hee University Campustown Project Group, Ahn Young-geun, Vice President of Hana Bank, Kim Hwan-yong, President of the Seoul Entrepreneurs Association, and Kim Bong-sik, Chairman of the Dongdaemun-gu Small Business and Small Merchant Association, attended and signed the "COVID-19 Overcoming and Local Economy Revitalization Agreement."

This business agreement was made to develop policies specialized for the region based on the resources and capabilities of each institution and to establish a system for continuous cooperation.

The council plans to promote various projects such as establishing a comprehensive support system for small merchants, providing interest rate benefits on loans, local-based guarantees, management consulting, facility improvement support for the recovery of neighborhood markets, discovering university-linked projects, and management improvement education.

To this end, each institution will appoint working-level committee members and start practical projects from August.

The Seoul Credit Guarantee Foundation will support startups by local cultural artists and propose economic revitalization plans; the district office will support and promote these; the Dongdaemun-gu Small Merchant Association will pioneer sales channels through exchanges between industries and between Gangnam and Gangbuk areas. Kyung Hee University plans to open region-linked classes and hold cultural performances.

Yoo Deok-yeol, Mayor of Dongdaemun-gu, said, "I am pleased to establish a support system that can overcome the management problems of small businesses and small merchants together through this agreement," and added, "We will actively cooperate so that the local economy, which has been contracted due to COVID-19, can recover early."

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