Dobong District Launches Emergency Economic Task Force... Special Credit Guarantees up to 200 Million Won for SMEs

1% Interest Support and Concurrent Price Monitoring

Dobong District in Seoul has established an Emergency Economic Measures Task Force (TF) to stabilize the local economy in response to potential economic shocks stemming from instability in the Middle East.

Oh Eunseok, Mayor of Dobong District, presided over the "Emergency Economic Measures Meeting" in the mayor's office on the 23rd. Provided by Dobong District.

The district is continuously monitoring local economic trends to respond to global economic volatility. In consideration of the growing burden on small and medium-sized enterprises and small business owners due to rising production costs and shrinking sales channels, Dobong District will provide special credit guarantees of up to 200 million won per business. A dedicated application desk will be operated starting from March 30 until the funds are exhausted. The district will also subsidize 1% annual interest for one year from the date of loan execution.

Price checks are also being conducted to reduce the burden on residents caused by rising raw material costs. The district is surveying the prices of essential daily goods at 14 medium and large supermarkets and more than 600 personal service businesses. In addition, a reporting center for hoarding and unfair trading practices is being operated to crack down on such activities.

On March 23, Mayor Oh Eunseok presided over an Emergency Economic Measures Meeting, where specific response plans for each sector were finalized. Oh Eunseok, mayor of Dobong District, stated, "We will mobilize all available means to prevent damage and protect the daily lives of businesses, small business owners, and residents."

This content was produced with the assistance of AI translation services.