Kim Kyung-il, Mayor of Paju, Visits Traditional Markets to Check on Local Livelihoods Ahead of Lunar New Year

Consecutive Visits to Munsan Free Market and Geumchon Tongil Market
Listening to Merchants' Concerns and Focusing on Economic Revitalization Measures
Including Livelihood Recovery Support Fund and Expansion of Paju Pay Limits

Kim Kyung-il, Mayor of Paju City, visited Munsan Free Market and Geumchon Tongil Market consecutively on the 23rd and 24th ahead of the Lunar New Year holiday, continuing his efforts to support the local economy by checking on the sales of peak season holiday goods and the livelihood economy.

Kim Kyung-il, mayor of Paju City, is purchasing seasonal goods with Paju Pay at Munsan Free Market on the 23rd. Photo by Paju City

Mayor Kim toured every corner of the markets, shaking hands and making eye contact with the merchants, listening to the difficulties faced by those on the front lines of livelihood, and expressing encouragement and gratitude to the merchants who are maintaining traditional markets despite challenging conditions.

He also personally purchased holiday season goods such as fruits and agricultural and marine products to experience the recently rising prices of daily necessities and listened attentively to the complaints of residents who came to shop for the Lunar New Year.

In response to prolonged economic difficulties such as high exchange rates and high interest rates, Paju City has adopted “All-in for Livelihood (All人)” as its administrative motto this year as well, focusing all policy efforts on livelihood recovery. The city allocated an additional supplementary budget of 52 billion KRW for the “Livelihood Recovery Living Stability Support Fund,” which provides 100,000 KRW per citizen in local currency?the first of its kind in the province?and began disbursing it from the 21st. Furthermore, during January, which includes the Lunar New Year holiday, the Paju Pay recharge limit was increased to a maximum of 1 million KRW, and a 10% permanent additional incentive has been maintained for several years as part of the bold local currency policy.

Mayor Kim Kyung-il of Paju City stated, “At a time when citizens are burdened by high prices and high interest rates, and local small business owners are experiencing decreased sales, it is crucial to remember the need for livelihood-centered administration that listens to and empathizes with citizens’ difficulties. Paju City will continue to seek various support measures to revitalize the local economy and will not spare policy support for local small business owners.”

Meanwhile, according to the “Paju Pay Effect Analysis and Activation Plan Survey” conducted by Paju City last year, the total issuance of Paju Pay increased by approximately 97.6 billion KRW compared to the previous year, reaching 255.9 billion KRW in local currency, and the average monthly sales per affiliated store increased by 448,000 KRW. This indicates that Paju City’s strategy to stimulate local economy by boosting sales of small businesses in alley markets through expanded local currency issuance policies is proving effective.

Additionally, the amount paid by residents outside Paju who registered as Paju Pay members and made payments at affiliated stores within Paju increased by 2.85 billion KRW compared to January to November of the previous year, totaling 10.58 billion KRW, showing a very high rate of external capital inflow.

This year, Paju City plans to maintain the scale of Paju Pay issuance at the same level as last year by setting the recharge limit to 700,000 KRW per month on regular days and 1 million KRW per month during Lunar New Year, Chuseok, and Family Month, while providing user benefits such as a 10% additional incentive throughout the year.

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