"Let's Attract Securities Firms to Masan"... Changwon Special Mayor Hong Nampyo Seeks Breakthrough for Stagnant Masan Economy

Revitalizing the Economy Through the Closure of Lotte Department Store Masan Branch

Hong Nam-pyo, the Mayor of Changwon Special City, Gyeongnam, sent a letter titled 'Request to Open Securities Company Branches in the Masan Area' to the headquarters and 24 Changwon branches of securities firms.

Hong Nampyo, Mayor of Changwon Special City, Gyeongnam.

In 2010, there were 12 securities company branches in the Masan area, but due to consolidations and mergers with Changwon branches, 11 of them have disappeared, leaving only 2 branches as of July 2024. At the 3rd meeting of the Changwon Economic Council on July 15, a proposal was also made to open more financial investment branches.

Although the reduction of offline branches due to the shift from face-to-face financial services to online transactions is a nationwide trend, in the case of Changwon, securities companies are concentrated in Seongsan-gu, causing citizens and businesses in the Masan area to feel a sense of loss and relative deprivation.

Recently, with the closure of Lotte Department Store Masan Branch and the gradual decrease of local living infrastructure, concerns among citizens are growing even further.

On July 31, Changwon City sent a letter emphasizing that the Masan area, with its Masan Free Export Zone, Bongam Industrial Complex, Masan Fish Market, and Robot Land, has great potential and earnestly requested the opening of securities company branches to revitalize the Masan economy.

Mayor Hong said, "With the recent closure of Lotte Department Store Masan Branch, residents of the Masan area are facing many difficulties, and the city is making efforts in various ways to minimize the impact. Once again, I ask for the active cooperation of securities company headquarters to restore the honor of Masan, one of the nation's seven major cities."

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