Suwon Mayor Lee Jae-jun: "Double Suwon Pay Budget to Bring Warmth to Frozen Alley Economies"

[Suwon Ilbo=Reporter Jung Jun-sung] Suwon Special Metropolitan City Mayor Lee Jae-jun said, "I will more than double the Suwon Pay budget from the previous year to bring warmth to the frozen alley economies."

On the 18th, the mayor held a 'special economic countermeasure briefing' at the city hall conference room and said, "We will allocate 41.1 billion won for Suwon Pay next year," and stated, "The sales effect from the expansion of Suwon Pay is estimated to exceed 52 billion won, and increased new consumption will bring warmth to the local economy."

The city will invest 41.1 billion won in the budget, expanding the Suwon Pay incentive from the current 6-7% level to 10% starting next year, and raising the recharge limit from 300,000 won to 500,000 won. In January and October, which include the Lunar New Year and Chuseok holidays, the incentive will be expanded to 20%.

Mayor Lee Jae-jun said, "We will allocate 545 billion won for job creation, 5 billion won more than this year, and execute it early," and stated, "We will also reduce the interest burden on small and medium enterprises through 100 billion won in Saebbit Loan support."

Linked with the Saebbit Loan (Small and Medium Enterprise Cooperative Support Project), the city will increase the loan interest support rate from 2% to 2.5% next year. The Saebbit Loan provides up to 500 million won per company at low interest rates and covers loan interest of 2% and guarantee fees at up to 1.2% annually; next year it will support 2.5% of loan interest. For example, if a small or medium enterprise borrows 500 million won through the Saebbit Loan, it can receive 12.5 million won in annual interest support.

Mayor Lee Jae-jun said, "In cooperation with Gyeonggi Province, we will provide heating expenses of 100,000 won per household for vulnerable groups such as basic livelihood security recipients, and we will more than double the number of people eligible for the Suwon Saebbit Care meal delivery service," and stated, "We will operate a vulnerable group support team to intensively identify households in crisis and quickly connect citizens in need to welfare resources."

He added, "Year-end gatherings are the force that revitalizes the local economy," urging citizens to "visit nearby alley restaurants and shops more often."

Public officials are also contributing to revitalizing the local economy. In-house cafeterias at city halls and district offices will close one day per week and operate 'lunch time dining-out days' to encourage employees to eat at restaurants. In addition, the city will expand Suwon Pay provision in customized welfare points for public officials distributed next year from the existing 100,000 won to 200,000 won.

Mayor Lee Jae-jun said, "We will operate an emergency livelihood economy stability countermeasure task force to immediately reflect opinions from field experts and respond swiftly and accurately," and stated, "We will mobilize all administrative capabilities to implement policies that directly benefit citizens and navigate through this economic emergency."