Yang Bunam: "Reducing Government and Local Financial Burden, Boosting Domestic Demand"

Roundtable on "Fund Conversion of Local Love Gift Certificates"
to Be Held at the National Assembly on the 29th

'Local Love Gift Certificate Fund Establishment Legislation Plan Meeting' Poster. Provided by Office of Assemblyman Yang Bunam

Yang Bunam, a member of the Democratic Party of Korea representing Gwangju Seo-gu B, announced on September 25 that he will host a meeting titled "Local Love Gift Certificate Fund Establishment Legislation Plan Meeting" at 10:00 a.m. on September 29 in Meeting Room 11 of the National Assembly Members' Office Building.

This meeting has been organized to explore an institutional framework that can support the sustainability of local economic revitalization and small business support policies, based on the domestic demand-boosting effects of consumption coupons and local love gift certificates, which President Lee Jaemyung has emphasized.

In particular, the meeting will focus on reviewing, from various perspectives, the economic impact and feasibility of institutionalizing a system where funds are created using the proceeds from local love gift certificate sales managed by local governments, with the aim of alleviating the financial burden on both the central government and local governments.

During the meeting, Yoon Minseop, Executive Director of the Digital Consumer Research Institute, will present on "The Legal Framework for the Fund Conversion of Local Love Gift Certificates," and Kang Hyunggu, a professor at Hanyang University, will discuss "The Economic Effects of Fund Conversion of Local Love Gift Certificates."

In the subsequent discussion session chaired by Jung Sunghoon, President of the Korea Regional Management Institute, the Association of Metropolitan and Provincial Governors of Korea and the Association of Mayors, County Governors, and District Heads of Korea will share the realities and challenges faced by local governments in issuing local currency. Additionally, Han Seunghun, Head of the Local Government Evaluation Project Group at the Korea Regional Management Institute, will address the policy effects of issuing local currency, and Jeon Sungmin, a professor at Gachon University, will propose ways to create local ecosystems utilizing local currency.

Yang Bunam stated, "Local love gift certificates have so far promoted local consumption, increased sales for small businesses, and invigorated local economies," adding, "Now is the time to move beyond short-term economic stimulus and establish a stable and sustainable support system in law, thereby reducing the financial burden on the government and local governments and institutionally supporting local economic revitalization."

Yang Bunam further added, "Based on the policy alternatives and expert opinions discussed at this meeting, I will work to concretize the 'Local Love Gift Certificate Fund Establishment Bill' and lay the foundation for boosting domestic demand and providing stable support for small businesses."

The outcomes of this forum will be actively reflected in future legislative efforts and system design processes for the establishment of a Local Love Gift Certificate Fund.

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