Park Young-sun Visits Traditional Market Affected by Floods... "Operation of Dedicated Troubleshooter"

Minister of SMEs and Startups Visits Heavy Rain Recovery Site
Consoles Merchants and Listens to Their Requests

Park Young-sun, Minister of SMEs and Startups

[Asia Economy Reporter Kim Daeseop] Park Young-sun, Minister of SMEs and Startups, visited the flood recovery areas of Jeonnam Gurye 5-Day Market and Gyeongnam Hadong Hwagae Market on the 18th to console the affected merchants.

After inspecting the flood recovery sites, Minister Park held an on-site meeting to listen to the damage status, recovery progress, and merchants' requests. Discussions were held regarding financial support necessary for business normalization and facility restoration plans.

Minister Park announced that a 'one-on-one dedicated troubleshooter' would be appointed and operated to help merchants quickly return to their livelihoods. Each merchant will be matched one-on-one with an SME Ministry staff member to provide close support until the recovery is complete.

The designated troubleshooters will guide affected merchants on support programs and assist with applications and submissions. They plan to maintain a constant communication system to identify merchants' difficulties and resolve issues promptly.

Minister Park also announced plans to support the establishment of 'flagship stores' by integrating digital technology into Gurye 5-Day Market and Hwagae Market to transform them into tourist attractions. The plan is to create stores centered around specific successful product brands in the market, maximizing the brand's character and image, and providing spaces for various experiences.

The Ministry of SMEs and Startups will support the exhibition and sale of local specialties, representative market products, and excellent small business products through online and offline platforms, leveraging the characteristics of Gurye and Hadong near Jirisan, which attract many tourists. They also plan to create spaces for various performances and events to promote customer inflow.

The Ministry will provide emergency business stabilization funds with a 1.5% interest rate and a 7-year loan period (3 years grace, 4 years repayment) to merchants in the specially declared disaster areas. Marketing costs necessary to attract customers after reopening will also be supported.

Minister Park said, "Currently, South Korea is facing an unprecedented economic recession due to COVID-19 and a crisis caused by abnormal weather, but we will definitely turn this crisis into an opportunity for transformation." She added, "The government will do its best to help traditional markets become premium markets attracting more customers through digitalization, including the creation of flagship stores, establishment of online and offline platforms, and introduction of real-time commerce."

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