Gwangju City Holds Special Measures Report Meeting for Livelihood Economy Recovery... Fully Committed to Supporting Local Economy

Mayor Bang Se-hwan: "Please Pay Attention to Ensure Policies Are Substantially Implemented in Local Fields"

Gwangju City, Gyeonggi Province (Mayor Bang Se-hwan) held a special countermeasure briefing session for the recovery of the people’s economy on the 6th at the City Hall Vision Hall.

Mayor Bang Se-hwan of Gwangju City (fourth from the right in the front row), the deputy mayor, and senior officials are holding a special measures briefing session for the recovery of the people's economy on the 6th at the City Hall Vision Hall. Provided by Gwangju City, Gyeonggi Province

The briefing session was attended by about 80 senior officials including Mayor Bang Se-hwan, the deputy mayor, and heads of departments, offices, and headquarters. It was organized to discuss special countermeasures for the rapid improvement of the perceived economy and the reconstruction of the people’s economy amid the ongoing economic downturn caused by high inflation and high interest rates.

The meeting reviewed comprehensive measures for the recovery of the people’s economy being promoted by each department based on the general report from the Regional Economy Division.

Throughout 2024, the city has been implementing policies to support the local economy in six areas: △ revitalizing the local economy △ fostering small and medium-sized enterprises △ promoting local purchases such as public construction projects △ supporting agricultural product sales △ managing national projects △ and fostering coexistence with large private construction sites. The city has executed a cumulative annual amount of 284.5 billion KRW, focusing on the recovery of the people’s economy.

In particular, as consumer sentiment remains depressed and the local economic downturn is expected to continue for a prolonged period this year, the city plans to operate quarterly local economic revitalization inspection meetings to share the progress of special countermeasures by each department and actively prepare additional support measures through continuous monitoring.

Additionally, the meeting included discussions on establishing sound fiscal management through strategic resource allocation and operating the Fiscal Inspection Cooperation Group. The city plans to respond to unstable domestic and international economic conditions and worsening domestic demand through the operation of the Fiscal Inspection Cooperation Group, composed of the group leader (deputy mayor) and deputy leader (director of the Planning and Finance Bureau), ensuring thorough fiscal execution management such as managing consumption and investment projects and minimizing carryover and unused funds.

Mayor Bang Se-hwan stated, “All departments will closely cooperate and mobilize all human and material resources to fully commit to stabilizing the people’s livelihood and economic recovery,” adding, “I ask all department heads to pay special attention to ensuring that policies are solidly implemented in the local field.”

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