Gyeongju City Announces 'Special Measures for Livelihood Economy' with 2 Million Won for Gathering Ban and 1 Million Won for Business Restrictions...

222.4 Billion Won Invested in 3 Major Special Measures... Mayor Jun Nak-yeong "Deploying All Available Resources"

Mayor Ju Nak-yeong of Gyeongju City announcing a special measure to revive the people's economy on the 8th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongju City is investing 222.4 billion KRW to provide urgent financial support to small business owners and vulnerable groups affected by the prolonged COVID-19 pandemic.

This measure is divided into ▲compensation for businesses affected by gathering bans and business restrictions (9.9 billion KRW) ▲direct and indirect support for small business owners and SMEs (109.3 billion KRW) ▲support for vulnerable groups (103.2 billion KRW), and will be applied on-site.

On the morning of the 8th, Gyeongju Mayor Ju Nak-young held a non-face-to-face press conference and announced that the city would deploy all available resources to implement the 'Three Special Measures to Revive the Citizen-Perceived Livelihood Economy' to save the livelihood economy pushed into crisis.

The special measures revealed by Mayor Ju include selective support focusing on immediate assistance to industries and groups in urgent need of local government aid, along with universal support measures such as issuing 100 billion KRW worth of Gyeongju Pay, tax reductions, and loan support.

1 million KRW each to 129 tourism-related businesses including travel agencies

First, 9.9 billion KRW in support funds will be provided to about 9,600 businesses directly affected by COVID-19.

Specifically, 2 million KRW each will be given to 251 businesses under gathering bans such as entertainment bars, karaoke bars, and colatecs, and 1 million KRW each to 9,168 businesses under business restrictions such as restaurants, cafes, singing rooms, indoor sports facilities, bathhouses, PC rooms, and arcades.

Additionally, 1 million KRW each will be provided to 129 businesses such as travel agencies, event companies, and youth hostels struggling due to the downturn in tourism, and 500,000 KRW each to about 100 businesses that suffered losses from confirmed case route disclosures but did not receive government support.

The necessary budget will be covered by Gyeongju City's own disaster management fund and contingency funds. Applications will be accepted from the 15th to the 26th of this month, and payments will be made sequentially through personal accounts, according to the city.

For small business owners and SMEs facing difficulties due to COVID-19, 109.3 billion KRW will also be invested.

Interest support will be provided to small business owners with low credit ratings, and working capital support to SMEs. Support projects such as rental assistance for dormitories of local SMEs and local tax reductions for benevolent landlords will also follow.

50 million KRW to vulnerable groups through the 'Public Officials Sharing Campaign'
Resident tax reductions for all citizens and reduced agricultural machinery rental fees for farmers

To support vulnerable groups, a total of 50 million KRW worth of donations will be made through the 'Gyeongju City Public Officials Happiness Sharing Campaign.' Mayor Ju Nak-young also participated by donating his entire first salary of the new year.

The issuance scale of Gyeongju Pay will be raised to 100 billion KRW within the year to stimulate the local economy, while universal and selective support will be combined through resident tax reductions for all citizens and reduced agricultural machinery rental fees for farmers.

In particular, the temporary emergency welfare support system will be expanded and extended until next month to provide living expenses for up to six months to households with income below 75% of the median income who have experienced income reduction due to unemployment, business suspension or closure, illness, or injury.

Mayor Ju Nak-young emphasized, "Continuing the 'noblesse oblige' spirit of Gyeongju's wealthiest family who said, 'Make sure no one starves to death within a hundred ri,' I urge everyone to actively participate in the 'Neighborly Love Happiness Sharing' movement to help low-income vulnerable groups."

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