Kim Dong-yeon: "First among Local Governments Nationwide...Expanded Scope Beyond Legal Provisions"

[Suwon Ilbo=Reporter Park No-hun] Gyeonggi Province Governor Kim Dong-yeon announced the implementation of the 'Gyeonggi-style payment linkage system,' being conducted for the first time among local governments nationwide, saying "I hope for mutual prosperity among businesses."

Governor Kim announced on the 28th through SNS that "the 'payment linkage system' is one of five major measures from the 'Comprehensive Plan for Economic Emergency Response and People's Livelihood Stability' that was my first approval upon taking office as governor. It is ahead of the implementation of the Mutual Growth Cooperation Act and is the first among local governments nationwide. The scope of application, determined by the ratio of raw materials, the scale of payment, and transaction period, has been expanded beyond what the law stipulates."

He added, "For the public sector including Gyeonggi Housing and Urban Development Corporation, we will proceed from April, and for the private sector, we plan to discover excellent companies participating in the payment linkage system and provide incentives prepared by the province. I hope many companies in Gyeonggi Province will take a path of substantive mutual prosperity through the payment linkage system."

The following is the full text of Gyeonggi Province Governor Kim Dong-yeon's SNS post.

<Gyeonggi-style Payment Linkage System, Hoping for Mutual Prosperity Among Businesses>

I visited small and medium-sized enterprises in the province last fall and heard their voices from the field.

It was an appeal from SME operators saying that raw material and energy costs are skyrocketing due to the Ukraine war and other factors, but payment amounts are fixed, making it impossible to endure.

The 'payment linkage system' is one of five major measures from the 'Comprehensive Plan for Economic Emergency Response and People's Livelihood Stability' that was my first approval upon taking office as governor. As a result of accelerating implementation, we will begin the 'Gyeonggi-style payment linkage system' from April.

It is ahead of the implementation of the Mutual Growth Cooperation Act and is the first among local governments nationwide.

The scope of application, determined by the ratio of raw materials, the scale of payment, and transaction period, has been expanded beyond what the law stipulates.

For the public sector including Gyeonggi Housing and Urban Development Corporation, we will proceed from April, and for the private sector, we plan to discover excellent companies participating in the payment linkage system and provide incentives prepared by the province.

Large enterprises and small and medium-sized enterprises must overcome the crisis together through mutual growth cooperation. I hope many companies in Gyeonggi Province will take a path of substantive mutual prosperity through the payment linkage system.