Gyeonggi-do Small Business Association "Welcomes Disaster Income Payment of Expiring Local Currency to All Residents"

The Gyeonggi Province Merchants Association and the Small Business Merchants Association Presidents expressed their support on the 16th in front of the main gate of the Gyeonggi Provincial Council for Governor Lee Jae-myung's decision to provide disaster basic income to all residents.

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gyeonggi Province Merchants Association and the small business owners' group chairpersons have collectively expressed their support for Gyeonggi Province Governor Lee Jae-myung's decision to provide disaster basic income.

The chairpersons issued a statement at 11 a.m. on the 16th in front of the main gate of the Gyeonggi Provincial Council in Suwon, welcoming the decision to provide disaster basic income to all Gyeonggi residents through extinguishable local currency.

In the statement, the chairpersons said, "The courageous decision by Gyeonggi Province to enable prompt execution without wasting time and administrative resources on selection is a great comfort and hope to local self-employed and small business owners who are crushed under mountains of debt and pushed to the brink of collapse every day."

They continued, "The disaster basic income paid in local currency, which has restrictions on usage locations and periods, will breathe new life into traditional markets and neighborhood commercial districts, the capillaries of the local economy. We ourselves have directly experienced and felt how much vitality the disaster basic income, provided twice last year and this year to all residents, has brought to traditional markets and neighborhood commercial districts," they emphasized.

Democratic Party lawmaker Lee Dong-joo, a member of the National Assembly's Industry, Trade, Small and Medium Enterprises Committee, who attended the event, expressed expectations, saying, "The decision to provide the third round of disaster basic income to all residents will activate consumption within the Gyeonggi region and serve as timely relief for self-employed individuals, small business owners, and traditional market merchants struggling due to the spread of COVID-19."

Earlier, on the 13th, Gyeonggi Province Governor Lee Jae-myung announced the "Third Round of Disaster Basic Income for All Residents."

Governor Lee stated, "Considering the justification and economic effects of universal disaster support payments, Gyeonggi Province will provide the third round of disaster basic income to all residents, including those excluded from the government's fifth disaster support payment. Disaster basic income is not merely a welfare policy but an economic policy that increases residents' disposable income to promote consumption and is paid in local currency with restrictions on usage locations and periods to invigorate neighborhood commercial districts, the capillaries of our economy."

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