Governor Kim Dong-yeon: "The Common People's Economy Is Difficult, But Please Endure and Persevere"

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Kim Dong-yeon, Governor of Gyeonggi Province, promised to actively support the struggling local economy through the Gyeonggi Credit Guarantee Foundation, as ordinary citizens are facing unprecedented hardships due to inflation following COVID-19 and high interest rates.

On the 20th, Kim posted on his Facebook under the title "Please Endure and Keep Enduring," stating, "Yesterday (the 19th) morning, I visited the Gyeonggi Credit Guarantee Foundation," and introduced, "Gyeonggi Credit Guarantee Foundation is an institution that provides guarantees so that small and medium-sized enterprises or small business owners without collateral can obtain loans from financial institutions. The residents consulting at the counter during my visit were all our neighbors in desperate situations who came to Gyeonggi Credit Guarantee Foundation."

He continued, "A skin care shop owner came hoping for about 20 million won but sighed because only 10 million won could be guaranteed," adding, "Residents working in the service and construction industries also came for consultations to receive about 10 million won in guarantees, and it was heartbreaking to see them anxiously worried that the guarantee might not be approved."

In particular, he said, "I also met a young cafe owner and a bakery cafe owner near the old Gyeonggi Provincial Government office," and shared, "It was painful to hear from the owner that sales have significantly dropped and it is difficult to endure since the provincial office moved to the (Gwanggyo) new building."

Governor Kim also expressed hope for the Gyeonggi Provincial Council’s swift approval of the supplementary budget.

He explained, "The local economy has already been struggling due to the COVID-19 crisis, and the Gyeonggi Credit Guarantee Foundation’s guarantee capacity has decreased during the pandemic. Gyeonggi Province has prepared a first supplementary budget to provide an additional 600 billion won in 'refinancing loans' through guarantees to small business owners within the province despite these circumstances."

Furthermore, he added, "I hope the supplementary budget will be passed as soon as possible and that the Gyeonggi Credit Guarantee Foundation will play a greater role as a reliable support for small business owners and self-employed people in the province."

Finally, Governor Kim said, "To feel the sharp rise in prices, I visited Hanaro Mart and traditional markets," and urged, "Despite the difficult economic situation, Gyeonggi Province will support the residents who are doing their best in their lives. Please endure and keep enduring."

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