GIMHAE — The city of Gimhae in South Gyeongsang Province will pay every resident 100,000 won in relief funds, and expects more than 53.7 billion won ($38.6 million) in spending to flow into local businesses.
Mayor Chung Young-doo announced the payment plan at the Gimhae City Hall press center on Sept. 14. The city said high prices, high interest rates and high fuel costs continue to weigh on household budgets and have eroded spending power, leaving traditional markets, neighborhood commercial districts and small business owners still under heavy strain.
Eligibility is based on Aug. 19, the date the city ordinance on the relief payments was promulgated. Residents registered in Gimhae as of that date qualify, along with marriage migrants, permanent residents and recognized refugees who meet the requirements, as well as children born during the application period.
Applications will be accepted from 9 a.m. on Sept. 17 until 6 p.m. on Oct. 30, both online and in person at township and neighborhood community service centers. Online applicants will receive mobile Gimhae Love gift certificates, while those applying in person will be given prepaid cards. The money must be spent by Nov. 30.
The funds can be used at stores run by small business owners in Gimhae with annual revenue of 3 billion won or less, and at merchants that accept Gimhae Love gift certificates. Some categories, including large retailers, are excluded.
The city estimates that if the money is spent locally, more than 53.7 billion won — excluding administrative costs — could reach neighborhood commercial districts and small business stores in a short period. To keep spending from concentrating in particular areas or sectors, the city said it will work to spread it evenly across traditional markets, local restaurants, supermarkets and retail shops.
To that end, the city plans to promote local commercial districts to businesses and workers in the area and to encourage city employees and affiliated public institutions to join in local spending. It will also promote Gimhae On Mall, the city's official online shopping platform for local agricultural and livestock products and regional specialties, and Meokkaebi, a public food delivery app.
The city also unveiled measures to draw additional spending. This month it will issue 17 billion won in Gimhae Love gift certificates, including 100 million won earmarked for Gimhae On Mall and 300 million won for Meokkaebi, and plans to expand issuance to a record 142.5 billion won by year-end. It will also offer 5% cashback to customers at designated low-price stores and, for the Chuseok holiday, refund up to 30% of purchases of agricultural, fishery and livestock products at traditional markets in Onnuri gift certificates.
"I hope this relief payment will help residents in their daily lives and provide real support to small business owners," Chung said. "I hope the spending will not be concentrated in specific areas or sectors, but will spread evenly across Gimhae, to traditional markets, neighborhood commercial districts and local shops."
