Yongsan-gu to Invest 9.2 Billion Won in Support for Small Business Owners and Local Commercial Districts

Yongsan-gu in Seoul (District Mayor Park Heeyoung) has established the "2026 Support Plan for Small Business Owners and Local Commercial Districts in Yongsan-gu" and will inject a total of 9.2 billion won to reinvigorate the sluggish local economy.

Yongsan Sanghoe site last year. Provided by Yongsan-gu.

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This comprehensive plan consists of 12 projects across three areas: stabilization of small business management, strengthening the competitiveness of small businesses, and revitalization of local commercial districts. A district official explained, "In light of the challenging economic conditions, including high inflation, high interest rates, and sluggish domestic demand, we focused on stimulating consumption and easing management burdens."

In the area of management stabilization, the district will provide 5 billion won in loans from the Small and Medium Business Development Fund, 2 billion won in loans from the Youth Enterprise Job Fund, and special credit guarantees for small business owners with a limit of 38.75 billion won. In addition, it will issue Yongsan Love Gift Certificates with a 5% discount rate and Yongsan Delivery App Gift Certificates (Yongsan Ttaenggyeoyo Gift Certificates) with a 15% discount rate, with a combined issuance scale of 31.5 billion won, to promote local consumption.

In the area of strengthening competitiveness, the district will select 10 small businesses that have operated in the same line of business for 30 years or more as "Oraei-eum Stores" and support them with facility and environmental improvement costs and promotional activities, while also supporting the operation of "Yongsan Sanghoe," a win-win market where small and medium-sized merchants and residents participate together. It will also promote capacity-building programs such as CEO training and practitioner training, improvements to the working environment of urban manufacturing businesses, and incentives for good-price businesses.

In the area of revitalizing local commercial districts, the district plans to enhance the self-sustainability of commercial areas by fostering local commercial district communities, holding specialized events for traditional markets and alley-type shopping districts, strengthening capabilities for online expansion, and operating a consultative body for local economic revitalization.

Park Heeyoung, Mayor of Yongsan-gu, said, "Small business owners and local commercial districts are the roots of the local economy and economic actors closest to residents' daily lives," adding, "We will pursue field-oriented policies so that small business owners can build their own competitiveness and achieve sustainable growth."

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