Gangnam-gu Confirms Supplementary Budget of 69.2 Billion Won for Local Economy Revitalization and Future-Oriented City Development
'Startup Valley' · 'Ansim Iljari Project' etc. 57%... SME Loans Expanded by 32 Billion Won · 20 Billion Won Gangnam Gift Certificates Issued
[Asia Economy Reporter Jong-il Park] Gangnam-gu District Office (Mayor Jeong Soon-gyun) confirmed the first supplementary budget for 2021 amounting to 69.2 billion KRW on the 26th to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 pandemic, and to create a future-oriented attractive city.
The district first allocated 3.1 billion KRW as a transfer to the ‘Gangnam-gu Small and Medium Enterprise Development Fund Loan Account,’ expanding the existing loan support limit for SMEs and small business owners from 42 billion KRW to 74 billion KRW.
An additional issuance of Gangnam Love Gift Certificates worth 20 billion KRW was also made possible. Through the supplementary budget, 2.22 billion KRW was secured, enabling full support for a 10% discount rate.
The district particularly focused on startup support to provide jobs for youth and foster startups. This includes 32.924 billion KRW for the construction of the ‘Gangnam Startup Valley,’ 1.447 billion KRW for the purchase of an 816㎡ public office site in the Segok district to prepare for future administrative demands, 3.258 billion KRW for the ‘Robot Hub District Development,’ and 2.093 billion KRW for the ‘Safe Job Project’ to provide 500 jobs for unemployed youth. These account for 57.4% of the total supplementary budget.
Additionally, 1.825 billion KRW was allocated for the creation of ‘Maebong-gil, a Walkable Path in Dogok Neighborhood Park.’ This supplementary budget was finalized at the 293rd Gangnam-gu Council extraordinary session.
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Mayor Jeong Soon-gyun stated, “This extraordinary session is meaningful as it established the basis to support unemployed youth and business owners who have closed due to restrictions, who were previously excluded from disaster relief, through amendments to the Youth Basic Ordinance and the Small Business Support Ordinance.”
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