Gyeonggi Province Holds Emergency Executive Meeting on Public Safety with Public Institutions and Urges Supplementary Budget
On the morning of the 16th, Gyeonggi Governor Kim Dong-yeon delivered an opening speech at the emergency executive meeting on public safety with public institutions held at the Yulgok Hall of the Gyeonggi Provincial Office. During the meeting, Kim emphasized that the impeachment of President Yoon Suk-yeol is not the end but the beginning, urging collective efforts for punishing insurrections, rebuilding the economy, and constructing a new nation.
Governor Kim addressed around 80 participants, including provincial executives, heads of organizations, and advisory committee members, at the meeting. He stressed the necessity of thoroughly punishing the orchestrators and accomplices of insurrections and eradicating coup forces, asserting that this is crucial to establishing foundational national stability.
Regarding economic rebuilding, Kim stated that although uncertainty has been removed with the passing of the impeachment bill, efforts must be channeled into rebuilding the shattered economy and revitalizing people’s livelihoods. He urged a focus on three principles—‘field-centered approaches’, ‘rapid responses’, and ‘bold actions’—to restore the stagnant economic conditions.
Kim also called on the National Assembly and the government to immediately prepare a supplementary budget for economic and livelihood recovery, suggesting that Gyeonggi Province should proactively take necessary measures and consultations in anticipation of next year’s government supplementary budget.
Furthermore, Kim said, “We are faced with a significant challenge of condemning insurrections, rebuilding the economy, and simultaneously creating a new nation.” He encouraged the people to focus on unity and progress to ensure the ‘great victory of the people’ leads to a ‘new Republic of Korea.’
During the meeting, follow-up reports on measures and progress regarding the ‘field-centered approaches’, ‘rapid responses’, and ‘bold actions’ ordered by Kim after the first Gyeonggi Emergency Livelihood Economy Meeting on December 12, were presented.
For stimulating consumption in local businesses, traditional markets, and small merchants, the budget for the ‘Grand Sale to Revive Gyeonggi’ by the Gyeonggi Market Promotion Agency will be expanded beyond the previously allocated 5 billion KRW for next year, and local currency incentive discounts will be increased from 6% to 10% during the New Year’s sales in January.
Plans include increasing policy financial budgets such as loan principal repayment deferrals and interest subsidies for small businesses, self-employed individuals, and SMEs. The originally designated budgets for programs like the ‘Cheer Up Small Business Card’ (10 billion KRW), debt repayment extension special guarantees (45 billion KRW), and alternatives for small business repayments (3.5 billion KRW) will be expanded.
In the tourism sector, the budget for Gyeonggi Tourism Organization and special funds for Gyeonggi tourism vendors will provide up to 3 billion KRW in support (up to 100 million KRW for SMEs and 50 million KRW for small merchants per business). Additionally, Gyeonggi Province plans to collaborate with private travel agencies to hold overseas promotion seminars for Gyeonggi tourism in the first half of the next year.
Moreover, from January next year, there will be an encouragement to expedite the execution of a 38 trillion KRW budget. Proactive strategies will be implemented to mitigate fears of economic recession through the addition of livelihood economy budgets to the main budget.
Finally, to boost consumption, year-end events and dining gatherings will proceed as scheduled, provided public service discipline is maintained.