Icheon-si Executes 68% of Corporate Support Budget Early in First Half of Year

Mayor Kim Kyung-hee: "Doing Our Best to Restore Business and Ordinary Citizens' Economic Sentiment"

On the 5th, Icheon City in Gyeonggi Province announced plans to expedite the execution of related budgets in the first half of the year to support companies struggling due to the economic downturn in Gyeonggi.To this end, the city plans to execute 518.7 billion won, which is 68% of the 762.8 billion won budget for corporate support, during the first half of this year.

The main department in charge, the Corporate Economy Division, decided to first execute support projects in various fields such as technological innovation and product production, domestic and international market development, business environment creation, financial support, and customized corporate difficulty support within February.

Earlier, at the beginning of the year, the city contributed 928 million won to the Gyeonggi Credit Guarantee Foundation and Gyeonggi Province for small and medium enterprise development funds. With this contribution, local SMEs will be able to receive loans up to 3 billion won. The city also plans to execute a 150 million won budget for the production level-up support project within February.

Mayor Kim Kyung-hee said, "Public sector attention is more necessary than ever as the recovery of people's livelihoods is critical now," adding, "We will do our best to ensure the early budget execution is carried out smoothly so that citizens can feel the improvement in the economy."

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