Namhae-gun to Provide 100,000 Won in Livelihood Stability Support to All Residents

Namhae-gun has decided to provide a livelihood stability support payment of 100,000 won per person to all residents in order to overcome economic recession and stabilize the living conditions of its citizens.

On the 28th, Namhae-gun announced that it plans to distribute this livelihood stability support payment in the form of Namhae Love Gift Certificates from the 2nd to the 30th of next month.

The recipients of this support will be limited to residents and foreign registrants with marriage immigration status or those with temporary residency status who have their registered addresses in Namhae-gun. The county plans to utilize the Golden Holiday period in early May to encourage local consumption and promote the revitalization of the local economy.

Economic Revitalization

Namhae-gun has proposed the "Livelihood Stability Support Fund Support Ordinance" in order to establish a basis for the payment of the livelihood support funds, which has been passed by the county council.

In accordance with this ordinance, the proposed budget for the first supplementary budget of 2025 includes approximately 4 billion won to be distributed to over 39,600 citizens, and the county council approved the related supplementary budget on the 25th.

However, there are criticisms from some quarters regarding Namhae-gun's provision of the livelihood stability support funds, labeling it as "populist administration," due to its low financial independence.

In response, a county official explained, "We have determined that bold financial investment is necessary for recovering the stagnated economy, which led to the decision to provide the support funds."

In addition to Namhae-gun, Geoje City in Gyeongnam Province is also stepping forward to support the local economy. Geoje City is working on distributing a livelihood recovery support payment of 200,000 won per person to all citizens.

Geoje Mayor Byun Kwang-yong stated on the 16th, “Citizens and small business owners facing the triple crisis of high prices, high interest rates, and high rent can no longer endure this reality,” announcing a plan to distribute a total of 47 billion won in livelihood recovery funds.

Local governments in Gyeongnam are thus implementing various support measures to stabilize the lives of residents and revitalize the local economy in light of the prolonged economic recession and rising prices following the COVID-19 pandemic.

In particular, the distribution of support funds in the form of local currency is expected to promote consumption within the region and provide direct assistance to small businesses.

Image source: Photo provided = Namhae-gun