GWANGJU < invest Korea

According to Yonhap News,

On January 23, Gwangju-si hosted the "2025 Gwangju Economy Together: Good Consumption, Good Finance, Good Jobs" event at the Gwangju Chamber of Commerce and Industry conference room, in collaboration with 76 organizations and associations, including economic organizations and industries.

The city and participating organizations pledged to work together to revive the local economy, which has been depressed by the December 3rd martial law declaration and impeachment vote and the Jeju Air crash tragedy.

Participating organizations read and signed a resolution to cooperate on creating jobs, stimulating investment, promoting consumption, and supporting small and medium-sized businesses and small business owners.

The city, along with eight financial institutions including Gwangju Credit Guarantee Foundation, Gwangju Bank, KB Kookmin Bank, NH Nonghyup Bank, Shinhan Bank, Hana Bank, Woori Bank, and KakaoBank, held an "Agreement Ceremony for Special Guarantee Project for Small Business Owners."

The special guarantee project for small business owners involves a KRW 170 billion budget to support small business owners and self-employed individuals facing financial difficulties due to the economic downturn. The city and banks will contribute to the Gwangju Credit Guarantee Foundation to provide low-interest loans and interest support.

During the event, Gwangju-si announced its economic policies to overcome the economic crisis, focusing on three core directions: increasing consumption, reducing burdens, and promoting investment.

The city will extend the 10% special discount on the Gwangju Coexistence Card until February, expand public delivery app discount coupons, run a consumption promotion campaign, and rapidly execute local government finances as part of various consumption-stimulating policies.

The city also plans to support small business owners facing management difficulties with special guarantee funds and interest, as well as provide financial loans for SMEs.

Gwangju will lead efforts to create more stable and better jobs by expanding public employment and improving the treatment of vulnerable groups.

Mayor Kang stated, "The more than 70 representative institutions in Gwangju must cooperate and pool their efforts for good consumption, good finance, and good jobs."

cbebop@yna.co.kr

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Source: Yonhap News (January 23, 2025)