[Photo] Ryugyeonggi Jungnang-gu Mayor Urges Enactment of the Basic Social Economy Act

[Asia Economy Reporter Park Jong-il] Ryu Kyung-gi, Mayor of Jungnang-gu, has called for the prompt enactment of the "Social Economy Basic Act."

"Social economy" refers to economic activities that prioritize human value, unlike market economy which values profit maximization above all else. The related law has not been enacted for the past seven years, causing difficulties.

Ryu Kyung-gi, Mayor of Jungnang-gu, appeared in a video urging the enactment of the "Social Economy Basic Act" produced by the National Council of Local Governments for Social Solidarity Economy, emphasizing that "the social economy is a healthy and innovative alternative that creates economic communities to solve social common problems."

Mayor Ryu said, "In the post-COVID-19 era, the importance of the social economy based on solidarity and cooperation will grow even more," adding, "I hope the Social Economy Basic Act will be passed as soon as possible so that policies and projects that revitalize the local economy can gain more momentum."

The district established the "Ordinance on Supporting the Activation of Social Economy in Jungnang-gu" in 2019, laying an institutional foundation for the activation of the social economy. It also built the Social Economy Support Center in Junghwa 2-dong, providing office space for social economy enterprises.

Last year, the district held an online social economy marketplace to expand sales channels for products and services of social economy enterprises.

This year, various projects such as hosting a social economy expo and operating a social economy enterprise pop-up store are planned to build a social economy ecosystem.

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