Yangsan-si Promotes Consumption Stimulation Policies to Revitalize Community-Based Local Economy

Promotion of Consumption, Support for Small Businesses, Job Creation: A Total of 10 Tasks Across 3 Areas

Yangsan City in Gyeongnam will fully implement customized policies to promote consumption for revitalizing the local economy closely connected to daily life starting January 2025.

In the unfortunate reality where the already struggling local economy is worsening due to the impeachment crisis and the domestic economy outlook for next year shows downside risks, the city has taken swift and efficient measures to help revive livelihoods and domestic demand, even if only slightly.

From early January next year, the city will focus on implementing a total of 10 tasks across three areas: consumption promotion, small business support, and job creation. Among these, six projects will expand their targets and support beyond the existing plans.

▲ Consumption Promotion Area

Yangsan Love Gift Certificates’ cashback discount rate will be actively considered for extension at an increased rate (from 7% to 10%) for a certain period after January, which includes the Lunar New Year holiday. The number of affiliated stores for Baedal Yangsan (delivery service) and Yangsan Mall will be significantly increased to encourage consumption within the region. To revitalize “Good Price” businesses, the city and local institutions and organizations will encourage their employees to use these businesses, and the number of such establishments will be increased by more than 20% from 50 stores. Additionally, by securing 330 million KRW as guarantee funds for the Gyeongnam-type emergency livelihood financial support project, loans totaling about 5.5 billion KRW will be executed over three years to help low-income residents increase consumption for livelihood purposes.

▲ Small Business Support Area

The number of stores eligible for the business environment improvement project will be drastically expanded from 40 to about 200, with an additional budget of 300 million KRW secured accordingly. The criteria for designating alley-type shopping districts, which are essential for participating in government projects and registering as Onnuri Gift Certificate usage locations, will be significantly relaxed to strengthen the organizational power and self-sustainability of small business owners.

▲ Job Creation Area

New youth job projects will be launched, including administrative job experience programs for university students and interview allowance support projects, with additional budget secured. The public work and community projects will also expand the number of participants from 460 to 560, adding 100 people, with a focus on deploying manpower intensively in the first half of the year.

Furthermore, at the “Expanded Meeting of the Yangsan City Local Economy Revitalization Council” to be held on December 23, 2024, about 50 leaders from Yangsan City, the Yangsan City Council, and local institutions and organizations will gather to conduct in-depth discussions on all areas including local economic revitalization, welfare, and safety for low-income residents.

Mayor Na Dong-yeon said, “The difficulties faced by citizens are immense as the already struggling local economy is further aggravated by political turmoil. We are prioritizing projects that can be implemented as quickly as possible and felt directly by citizens to restore domestic demand and stabilize their lives. We will continue to meet with small business owners and local institutions and organizations to listen to many opinions and actively consider various support measures. We ask companies and citizens not to cancel year-end dining or gatherings as much as possible to help revitalize the neighborhood commercial districts and to finish the year as usual.”

Yangsan City Hall.

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