Hwaseong City Preparing for Special City Launch, Develops Comprehensive Plan to Revitalize Livelihood Economy

'Strategy Meeting for Revitalizing the People's Livelihood Economy' Held... Measures to Be Announced Within the Year

Hwaseong City in Gyeonggi Province, set to become the fifth special city next year, has launched a comprehensive plan to revive the local economy.

On the 21st, Hwaseong City held the '2025 Livelihood Economy Revitalization Strategy Meeting' at the city hall situation room, chaired by Vice Mayor Son Im-seong, to discuss detailed measures for revitalizing the regional economy. The meeting was convened to devise ways to inject vitality into the overall economy through boosting domestic demand and promoting local consumption amid the ongoing high inflation and high interest rate environment.

Son Im-seong, Vice Mayor of Hwaseong City, is presiding over the 'Strategy Meeting for Revitalizing the People's Economy' in the city hall conference room on the 21st. Photo by Hwaseong City

The meeting covered sector-specific measures including ▲consumption activation ▲financial support for small business owners and SMEs ▲stimulating the local construction industry ▲job creation and expansion ▲mutual support for vulnerable groups ▲and recovery of the rural and fishing village economy.

Vice Mayor Son said, "The unstable economy presents more challenges than ever before," adding, "We will do our best to prepare effective livelihood stabilization policies that citizens and businesses can genuinely feel."

Based on the discussions at the meeting, the city plans to establish a concrete action plan and announce a comprehensive strategy within this year.

Earlier, on the 8th, Hwaseong Mayor Jeong Myeong-geun stated in a city briefing that to stimulate consumption and revitalize the livelihood economy, next year's issuance of local currency will be expanded to 500 billion KRW, the largest scale nationwide, with a 10% incentive provided.

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