Uijeongbu Mayoral Candidate Wonki Kim Announces Establishment of "Uijeongbu Co., Ltd."...Declares a Sales Channel Revolution for Small Businesses

Wonki Kim, candidate for mayor of Uijeongbu from the Democratic Party of Korea, announced on May 21 his plan to establish “Uijeongbu Co., Ltd.” and to build a public-oriented economic platform to strengthen the self-sufficiency of local businesses and small business owners in Uijeongbu. This pledge goes beyond the limitations of one-time subsidies or declarative financial support by proposing a field-oriented and practical model in which the local government directly participates as a sales partner to help fill the pockets of small business owners.

Kim Wonki, Candidate for Mayor of Uijeongbu from the Democratic Party of Korea. Provided by candidate Kim Wonki

This pledge demonstrates a policy direction of mutual growth by simultaneously pursuing a medium- and long-term strategy to attract large companies to sites returned by the U.S. military while also immediately boosting the real economy for local SMEs and neighborhood commercial districts that struggle with daily sales concerns.

Kim designed a self-reliant economic system that directly commercializes the city’s outstanding assets to address the time lag between the external achievement of attracting large companies and the impact reaching the microeconomic level of the local economy. Rather than relying solely on attracting outside companies, his plan combines a responsible management platform in which the city participates as a shareholder, expressing his commitment to building a differentiated economic ecosystem where macro-level urban development and micro-level neighborhood economies work together like interlocking gears.

Kim’s plan is focused on breaking away from space-based indirect support and radically shortening the distribution stages of local products. He intends to quickly complete the approval process for the establishment of “Uijeongbu Co., Ltd.,” a special purpose company (SPC) jointly owned by the city and local SMEs, together with the enactment of relevant supporting ordinances during his term.

As soon as the company is launched, dedicated live commerce and mobile home shopping channels specializing in promoting and selling excellent local small business products will be operated permanently, drastically reducing distribution margins and maximizing producers’ profits. Furthermore, Kim envisions growing this into a public economic platform that provides comprehensive services—including brand consulting, package design support, and overseas buyer matching—for local startups and strong SMEs, with the goal of making it a true control tower for Uijeongbu’s real economy.

Addressing concerns about the potentially massive tax burden, Kim clarified that he has established a detailed funding plan to minimize the city’s direct fiscal burden and disperse risk.

Instead of raising all the initial capital for Uijeongbu Co., Ltd. solely from city funds, Kim plans to secure funding through a triangular structure that combines public investment from Uijeongbu City, matching investments from local SME associations, and private financial capital, based on the relevant laws for the operation of local government-funded organizations. For ongoing operating costs after establishment, the plan is to create a virtuous financial cycle by organically combining revenues from platform service fees, distribution margin profits, and government national subsidy project funds for SME sales channel development, thus enabling self-sustaining operations without additional municipal bonds or city budget injections.

Kim diagnosed the current situation by saying, “Small business owners and companies have outstanding technical capabilities, but they are facing difficulties due to barriers in marketing and distribution.” He added, “Uijeongbu Co., Ltd. will become a reliable sales partner for them, serving as an expressway for products made in Uijeongbu to reach the entire country and even the world. This is not just an announcement—I will deliver visible sales results within my term and prove it to all citizens.”

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