Jeong Wono: "Issuing 2.5 Trillion Won in Seoul Local Currency"

10% Discount for Citizens
A Virtuous Cycle of Increased Sales for Small Merchants

Jeong Wono, the Democratic Party of Korea's candidate for Seoul mayor, announced on the 15th that he would issue 2.5 trillion won worth of local currency to revitalize neighborhood commercial districts.

Jung Wono, the Democratic Party candidate for Seoul mayor (center), is answering questions from reporters after finishing a press conference announcing his campaign pledges at the National Assembly Communication Hall on the 15th. Photo by Yonhap News

Earlier that day at 11 a.m., Jeong held a press conference at the National Assembly Communication Office to announce his pledge to issue local currency. He explained that his plan aims to revive neighborhood businesses that have been struggling due to high inflation and high interest rates, and to effectively lower the cost of living felt by citizens.

Jeong intends to issue 2.5 trillion won worth of Seoul Sarang Gift Certificates. The city government will subsidize 250 billion won, which is 10% of the total amount, so that citizens can receive a 10% discount when purchasing the certificates. He plans to create a virtuous cycle where citizens’ real purchasing power increases and small merchants enjoy higher sales.

In the afternoon, Jeong is targeting votes from the labor sector in competition with Oh Sehoon, the People Power Party candidate. Earlier in the day, Oh visited the Federation of Korean Trade Unions for a policy meeting. Jeong plans to sign policy agreements with both national labor union federations in the afternoon and receive proposals addressing concrete labor issues.

In addition, Jeong plans to visit the relay speech event organized by the TBS branch of the National Union of Mediaworkers at Gwanghwamun Square in Seoul to offer encouragement. He will then attend the 80th anniversary event of the Seoul Nurses Association. Jeong will also visit the Rose Festival in Jungnang-gu, Seoul, to engage with citizens. In honor of Teachers’ Day, he will visit a daycare center, listen to the concerns of childcare teachers, and review practical measures for improving childcare environments.

Previously, Jeong officially registered as the ruling party's Seoul mayoral candidate with the National Election Commission. Born in 1968, he has previously served as the head of Seongdong District for the 6th, 7th, and 8th terms and as a distinguished professor at Hanyang University’s Business School.

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