Gyeonggi Shinbo Awards 'Appreciation Plaque' to Yongin City for Increasing Annual Contributions

The Gyeonggi Credit Guarantee Foundation has selected Yongin City as an outstanding city/county for contribution performance for two consecutive years.

On the 27th, Gyeonggi Credit Guarantee Foundation announced that it presented a plaque of appreciation to Mayor Lee Sang-il at Yongin City Hall for continuously expanding contributions to revitalize the local economy.

Yongin City increased its contributions to the Gyeonggi Credit Guarantee Foundation for three consecutive years, with 2.7 billion KRW in 2022, 3.8 billion KRW in 2023, and 4.3 billion KRW in 2024.

Through this, it actively supported the resolution of financial difficulties for small and medium-sized enterprises (SMEs) and small business owners in the area and the revitalization of the local economy. Recognizing these efforts, Yongin City was selected again in 2024 as an outstanding city/county for contribution performance by the Gyeonggi Credit Guarantee Foundation, following 2023.

Using Yongin City’s contributions as resources, the Gyeonggi Credit Guarantee Foundation has provided a total of 355.9 billion KRW in special guarantee funds to local SMEs and small business owners from the implementation of special guarantees until the end of last year.

Yongin City recommends the ‘Small Business Special Guarantee’ to the Gyeonggi Credit Guarantee Foundation, which relaxes screening criteria and offers preferential guarantee rates for small business owners, and operates the ‘Small Business Premium Loan’ program that includes support for special guarantee fees and loan interest, striving to alleviate financial burdens.

Additionally, for SMEs that have difficulty securing funds under general guarantee standards, Yongin City recommends the ‘SME Special Guarantee’ to the Gyeonggi Credit Guarantee Foundation. Accordingly, the foundation relaxes screening criteria to enable smoother guarantee support.

Si Seok-jung, Chairman of Gyeonggi Credit Guarantee Foundation (right), is taking a commemorative photo after presenting a plaque of appreciation to Lee Sang-il, Mayor of Yongin, on the 27th. Photo by Gyeonggi Credit Guarantee Foundation

Furthermore, Yongin City is focusing on revitalizing the local economy by promoting policies linked to advanced industries, such as establishing a semiconductor cluster and attracting a smart mobility pilot project.

Mayor Lee Sang-il of Yongin City stated, "In line with the city administration’s vision, ‘Future Made Together, Yongin Renaissance,’ we are making various efforts to help SMEs and small business owners overcome crises and move toward the future." He added, "We will continue to cooperate with the Gyeonggi Credit Guarantee Foundation to prepare effective support measures and do our best to create a city where quality jobs are created through corporate support and local economic revitalization policies."

Si Seok-jung, Chairman of the Gyeonggi Credit Guarantee Foundation, responded, "Despite difficult conditions such as economic recession and budget constraints, we appreciate Yongin City’s focus on overcoming the livelihood economy crisis and revitalizing the local economy." He added, "The Gyeonggi Credit Guarantee Foundation will actively cooperate with city and county policies and become a reliable partner for SMEs and small business owners through strengthened financial support and customized guarantee policies."

Meanwhile, after the plaque presentation, Chairman Si Seok-jung and Mayor Lee Sang-il shared current issues regarding the livelihood economy and discussed ways to cooperate on policies.

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