Bucheon-si's 'One Department, One Economy Revitalization' Plan... Focus on Six Key Areas Including Consumption Promotion

Bucheon City in Gyeonggi Province announced on the 29th that it will promote the 'One Department, One Economic Revitalization Project' to respond to the emergency economic situation where difficulties in the livelihood economy, such as small business owners, continue due to prolonged high inflation and high interest rates.

Bucheon City and 58 related departments (organizations) will participate, focusing on six major areas: ▲stimulating consumption ▲stabilizing management of small business owners and companies ▲job creation ▲livelihood support ▲rapid execution ▲solidarity and cooperation, aiming to restore the livelihood economy.

First, to support consumption recovery, the local currency 'Bucheon Pay' will be activated (incentives: 10% during holidays (February and September), 6% normally), and 19 projects will be carried out including regional economic revitalization through tourism recovery and Bucheon-style New Deal policies.

For small business owners and SMEs struggling due to the prolonged economic crisis, a total of 20 billion KRW scale special guarantees for small business owners and related 2% interest difference support, SME development funds and special guarantees, expansion of fuel subsidy support, and 15 other projects will be promoted.

Bucheon City Hall

Efforts will also be made for education and customized employment support to create sustainable quality jobs. Twenty-one projects will be implemented, including the operation of the Youth Employment and Start-up Training Program at the Ildream Center, public work projects, community job projects, elderly job creation focused on participant safety, and support linking learning-type jobs and social contribution activities through lifelong learning.

Additionally, 12 projects will be promoted to reduce the burden on low-income households and support vulnerable groups, including energy welfare for vulnerable groups, youth housing cost support, expansion of emergency welfare support for crisis households, additional support for self-pay in childcare services for multi-child families, and burden reduction support for livelihood tax delinquents.

Along with this, 19 projects will be promoted to quickly execute consumption and investment sectors through active fiscal spending in the public sector to spread regional economic vitality, including rapid processing of public building progress and completion inspections.

Mayor Jo Yong-ik of Bucheon said, "We will prioritize the lives of citizens and focus on livelihood care that citizens can feel," adding, "We plan to check and supplement the progress of each project quarterly and continuously monitor regional economic issues and vulnerable areas."

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