Gyeonggi Province Strengthens Foundation for Substantive Cooperation Between Large and Small-Medium Enterprises

[Suwon Ilbo=Kim Gap-dong] Gyeonggi Province announced it will organize local mutual growth councils and hold a mutual growth fair to strengthen the foundation for substantive cooperation between large enterprises and small-medium enterprises.

The province confirmed the "Second Gyeonggi Province Fair Economy 5-Year Basic Plan (2025-2029)" on the 14th.

According to the "Ordinance on Support for Economic Democratization in Gyeonggi Province," the province must formulate a basic plan every five years. It previously established the first plan (2020-2024) in 2020.

This plan comprises 27 projects across 5 sectors and was formulated based on projects reviewed and confirmed by the Fair Economy Committee last year. The province will invest 66 billion won in 2025, with projects distributed by sector as follows: △7 projects in fair trade sector (2.2 billion won) △10 projects in mutual cooperation sector (56.7 billion won) △3 projects in social economy sector (5.3 billion won) △3 projects in consumer sector (1.7 billion won) △4 projects in labor sector (200 million won). The fair trade sector will focus on expanding the Gyeonggi Province-type payment linkage system and preventing technology theft, while the mutual cooperation sector will prioritize revitalizing alley commercial districts and supporting small merchants.

Notably, this basic plan includes 6 new projects: △establishment and operation of local mutual growth councils △hosting a mutual growth fair in conjunction with mutual growth week △support for activating mutual growth payment systems.

Local mutual growth councils will serve as a system where local governments, large enterprises, and mutual growth committees jointly discover and promote region-tailored mutual cooperation models, holding meetings twice annually and contributing to the creation of a mutual cooperation ecosystem among regional economic actors.

The mutual growth fair is a comprehensive event that supports regional economic revitalization by providing a meeting venue between large and small-medium enterprises for supplier participation, technology and product purchases, and other activities. It will include operating consultation booths, hosting store participation briefing sessions, and operating dedicated channels for corporate difficulties.

Additionally, through support for activating mutual growth payment systems, the province plans to guarantee stable payment settlements. The mutual growth payment system refers to a system in which local governments have the function to directly pay contractors and subcontractors, enabling not only primary suppliers but also secondary and lower-tier suppliers to receive stable payments.

The province will review implementation progress quarterly and continue discovering new projects through the Fair Economy Committee to enhance policy implementation capacity. In particular, an interim evaluation will be conducted in 2027 to analyze policy effects and discover supplementary projects when necessary. Additionally, the province plans to strengthen cooperation with cities and counties to ensure that fair economy policies are evenly disseminated throughout Gyeonggi Province.

Seo Bong-ja, head of Gyeonggi Province's Fair Economy Division, said "This plan was composed of projects that can deliver substantive results while focusing on protecting the economically vulnerable and strengthening mutual cooperation between large and small-medium enterprises," adding "We particularly conducted a thorough analysis of the achievements and limitations from the first plan's implementation to establish even more effective policies."