Gwangju City to Invest 980 Billion Won in Revitalizing the Local Economy

Published 23 Jan.2025 16:06(KST)

Updated 28 Jul.2025 00:05(KST)

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Promotion of Consumption, Expansion of Opportunities, and Burden Reduction Initiatives
Attracting 18 Million Tourists Through the 'Visit Gwangju Year'
Special Guarantee Fund of 170 Billion KRW for SMEs and Startups
Extension of 10% Special Discount on Sangsaeng Card Until February

Gwangju Mayor Kang Gijeong attended the 2025 Gwangju Economy 'Together Steadily' event held at the Gwangju Chamber of Commerce and Industry on the morning of the 23rd, and signed a special guarantee agreement for small business owners with Gwangju Credit Guarantee Foundation and financial institutions. Provided by Gwangju City

Gwangju City will invest a total project budget of 980 billion KRW this year to restore the local economy and revitalize the livelihoods of its citizens.

According to the city on the 23rd, a total of 97 projects will be promoted this year, including 12 new, 38 expanded, and 47 ongoing projects, to overcome the crisis in the livelihood economy caused by economic uncertainty and a slump in domestic demand.

This is a strategic response to boost economic recovery by expanding consumption and investment, and to reduce the burden on citizens' daily lives to overcome the local crisis. To this end, the city has set 'promotion of consumption,' 'burden reduction,' and 'expansion of opportunities' as its policy directions to overcome the economic crisis.

First, the city will implement consumption promotion policies to stimulate the local economy, such as ▲operating the 'Visit Gwangju Year' ▲the Good Consumption Campaign ▲issuing discounted Gwangju Sangsaeng Cards ▲expanding the operation of the public delivery app ▲and swift execution of local government finances.

The city aims to attract 18 million visitors by leveraging the region's strengths in culture, arts, and sports through the '2025 Visit Gwangju Year.' Of the 6.8253 trillion KRW subject to swift execution, 4.3 trillion KRW, which is 63%, will be concentrated in the first half of the year. Additionally, the city will inject an extra 10 billion KRW to extend the 10% special discount on the Gwangju Sangsaeng Card until February.

For the 'burden reduction' policy to stabilize citizens' lives, the city will promote ▲Gwangju-style public transportation fare support (Gwangju G-Pass) ▲Gwangju Sangsaeng Card for congratulating newborn families ▲Small business childcare support packages ▲Gwangjudaum Integrated Care ▲Special guarantee funds and interest support for small businesses ▲and financial support for SMEs.

The Gwangju G-Pass project will offer free public transportation for children and a 50% discount for youth and seniors, reducing household burdens and realizing a poster city. For newborn families (targeting 6,000), a birth congratulatory payment of 2 million KRW and a Sangsaeng Card worth 500,000 KRW per newborn will be provided.

The special guarantee program for small businesses will provide a record-high budget of 170 billion KRW, supporting 6,800 small business owners and self-employed individuals with low-interest loans and interest subsidies to help resolve financial difficulties. An initial 5 billion KRW will be supplied to stabilize the tourism industry affected by the Jeju Air passenger plane accident.

The city believes that expanding opportunities for business growth will create more economic opportunities, such as job creation and the transition to quality jobs, and will strengthen ▲fostering promising future industries ▲support for startups ▲and job creation support.

Gwangju City is focusing its capabilities on achieving both goals of overcoming the economic crisis and improving citizens' quality of life as well as revitalizing the local economy through these policies.

Mayor Kang Gijung emphasized, "Cooperation and support from all sectors are essential to overcome the economic crisis and find new pathways for the local economy," adding, "That is the key to restoring the livelihood economy."