Jinju City to Provide 100,000 Won Happiness Support Fund per Person

Announcement of the 5th Emergency Regional Economic Support Plan Worth 44.3 Billion KRW to Overcome the COVID-19 Crisis

Joo Kyu-il, Mayor of Jinju City, Announces 5th Emergency Support Measures for Local Economy to Overcome COVID-19 Crisis
[Image Source=Jinju City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, will provide a happiness support fund of 100,000 KRW per person to all citizens.

On the 12th, Jinju Mayor Jo Gyu-il announced a '5th Regional Economic Emergency Support Plan' worth 44.3 billion KRW, including the payment of a happiness support fund equivalent to 100,000 KRW per person to all citizens, at the city hall briefing room.

Mayor Jo said, “The 5th Regional Economic Emergency Support Plan is a comprehensive support measure that includes short-term plans to revitalize the local economy and long-term plans to prepare for the post-COVID-19 era,” adding, “I hope that citywide civic goodwill consumption will bloom throughout Jinju, providing an opportunity for small business owners to stand up again.”

The city has implemented economic measures worth 119.6 billion KRW in four phases since last year.

The main contents of the newly announced 5th plan include 36 billion KRW for happiness support funds for all citizens, 100 million KRW for support of businesses subject to gathering restrictions, 7.8 billion KRW for economic revitalization including support for small and medium enterprises and small business owners, and 400 million KRW for youth support and deregulation for the post-COVID-19 era, totaling 21 projects across three sectors.

The funding for this economic plan, amounting to 44.3 billion KRW, will be procured by utilizing the fiscal stabilization fund, the adjusted portion of last year's net surplus, and the disaster management fund.

Mayor Jo stated, “As soon as the 2nd supplementary budget passes the Jinju City Council on the 30th, the happiness support fund will be paid to all citizens, and various support policies will be fully implemented.”

Additionally, as part of the local economic revitalization measures, the city plans to operate a dedicated public official team to handle corporate difficulties, strengthen overseas market marketing strategies, and establish the first 'crowdfunding' initiative among basic local governments.

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