Na Kyung-won Visits Traditional Market: "Worried About Grocery Prices... Will Support Small Business Owners"

Meeting Merchants Facing Dual Hardships of Recession and COVID-19
Purchasing Various Goods with Onnuri Gift Certificates

'Breathing Room Loan,' Up to 50 Million Won at 1% Interest
Seoul City to Become a Digital Management Consulting Company

Former People Power Party lawmaker Na Kyung-won, who is running in the Seoul mayoral by-election, is seen talking with merchants at Sinyeong Market in Yangcheon-gu, Seoul on the 20th. 2021.1.20 Photo by National Assembly Press Photographers [Image source=Yonhap News]

[Asia Economy Reporter Lee Hyun-joo] "Hello. Sell a lot. This is Na Kyung-won."

On the afternoon of the 20th, Na Kyung-won, a former lawmaker and a candidate in the People Power Party's Seoul mayoral primary, visited Sinyeong Market located in Yangcheon-gu, Seoul.

Na met directly with merchants struggling due to the impact of the novel coronavirus disease (COVID-19). She prepared Onnuri gift certificates, which can only be used in traditional markets, in advance and purchased hotteok, cheonggukjang, tofu, squid, and beoseon.

After tasting hotteok on the spot, Na immediately moved further into the market. She mainly asked the merchants how the economy was these days. One merchant said, "If I say cheonggukjang is 10,000 won per kilogram, people think it's expensive and just leave without buying," adding, "Even though it's the price from four years ago, they still feel it's expensive." Another merchant complained, "We have to close all the shops by 9 o'clock, so it's tough."

Former People Power Party lawmaker Na Kyung-won, who is running in the Seoul mayoral by-election, is seen talking with citizens at Sinyeong Market in Yangcheon-gu, Seoul on January 20, 2021. Photo by National Assembly Press Photographers Group [Image source=Yonhap News]

After touring the market, Na Kyung-won revealed plans to revitalize traditional markets. She plans to create low-interest financial products to help small business owners. The so-called 'Sumtongteuim Loan' allows borrowing up to 50 million won per person with an interest rate of 1%, a 3-year grace period, and a 5-year repayment period. Simply put, the total loan period is 8 years, during which only interest is paid for the first 3 years, and principal and interest are repaid together over the remaining 5 years. Na claimed that if 6 trillion won is attracted to the Seoul Credit Fund, loans up to 90 trillion won will be possible, ensuring sufficient capital procurement.

She expressed opposition to the bill that requires complex shopping malls to close twice a month. Na said, "Complex shopping malls have become spaces for culture and leisure beyond just places to buy goods," adding, "Since 70% of the tenants are self-employed, closing the malls would make things difficult for them."

She emphasized that the starting point for a digitalized future city Seoul is digital education for small business owners. She said, "Online sales through delivery apps are active these days, so we will provide management consulting on how to take attractive photos of products and upload them online," adding, "Seoul City will become a digitalized management consulting company."

Former People Power Party lawmaker Na Kyung-won, who is running in the Seoul mayoral by-election, is taking photos with children at Sinyeong Market in Yangcheon-gu, Seoul on the 20th. 2021.1.20 Photo by the National Assembly Press Photographers Group [Image source=Yonhap News]

Finally, Na Kyung-won said, "I actually came out today because I was worried about the rising prices of groceries," adding, "At its worst, a head of cabbage can cost up to 8,000 won." She continued, "It is a challenge to stabilize prices because those who are already struggling are having an even harder time."

On that day, Na walked about 500 meters and met many citizens. Some citizens who came with their families said they enjoyed watching her TV program or asked to take photos together.

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