"Revive the Stagnant Local Economy" ... Changwon Special City Urgently Allocates 4.6 Billion Won in Contingency Funds
150 Billion KRW Expansion Support for Small Business Development Funds to Stabilize Livelihood Economy, Issuance of 30 Billion KRW Nubijeon, etc.
Changwon Special City in Gyeongnam has decided to urgently inject 4.6 billion KRW from contingency funds to revitalize the sluggish local economy at the end of the year and to make every effort to activate the domestic economy and stabilize the livelihood economy early.
This support is divided into two areas: financial support and local consumption promotion, providing practical benefits to small business owners and citizens facing economic difficulties.
◆ Financial Support: Expansion of 15 billion KRW for Small Business Development Funds
Starting from the 23rd, the city will expand support by 15 billion KRW for small business development funds. Small business owners with workplaces in Changwon who have received credit guarantees from the Gyeongnam Credit Guarantee Foundation can borrow up to 50 million KRW, with an interest rate subsidy of 2.5% per annum for one year. Through this, the city plans to alleviate the financial burden on small business owners and strengthen the financial safety net.
◆ Local Consumption Promotion: Issuance of 30 billion KRW in Nubijeon (mobile), 10% Discount Event
On the morning of the 23rd at 9 a.m., the city will issue 30 billion KRW worth of ‘Nubijeon’. This issuance is exclusively for mobile use, with a maximum purchase limit of 300,000 KRW per person, and the discount rate has been increased from the existing 7% to 10%, which is expected to promote citizens’ consumption.
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Hong Nampyo, Mayor of Changwon Special City, stated, “Despite the difficult conditions, we will do our utmost to minimize the damage to small business owners and citizens who are working hard in the field of livelihood,” and added, “We ask citizens to continue their work and daily lives as usual so that they can feel secure and our local economy can be stably maintained.”
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