Seongdong-gu, Full Effort for Early Fiscal Execution to Revive Local Economy

Priority Promotion Aiming for Completion in the First Half of the Year Including Regional Economic Revitalization Policies to Overcome the Emergency Economic Crisis
Accelerated Implementation in All Areas Such as SME Loan Support and Early Issuance of Seongdong Love Gift Certificates

Seongdong-gu, Seoul (Mayor Jeong Wono) announced that it will make every effort to expedite fiscal spending starting January 1 next year to revive the frozen local economy and stabilize the lives of residents amid unstable political and economic conditions.

Seongdong-gu plans to take the lead as a catalyst for stabilizing livelihoods and economic recovery in the current situation where the local economy has sharply contracted due to rapidly changing political circumstances.

On December 12, in response to the emergency situation and to assess the rigid local economic conditions and stabilize the local economy, the district held an emergency economic meeting with the Seongdong-gu Chamber of Commerce and Industry to gauge the economic crisis perception of key livelihood economic actors such as small and medium-sized enterprises and small business owners, and to share the district administration’s operational plans for economic stabilization.

Accordingly, Seongdong-gu announced that it will prioritize and steadily implement key policies for local economic revitalization and residents’ long-standing projects, including ▲ support for loans to small and medium-sized enterprises ▲ early issuance of Seongdong Love Gift Certificates ▲ implementation of price stabilization measures and promotion of traditional market consumption.

In addition, major investment projects such as facility expenses will be actively executed using advance payments and progress payments to the maximum extent possible. The district plans to swiftly establish and implement project plans in all areas, including livelihood support budgets, to fully commit to early fiscal spending.

Jeong Wono, Mayor of Seongdong-gu, stated, “Due to uncertain political and economic conditions, residents’ lives are very difficult,” and added, “We will do our best to stabilize and revitalize the economy through early fiscal spending to overcome the local crisis in this emergency situation.”

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