Uiryeong County Mobilizes Reserve Funds to Distribute 500,000 Won Vouchers to All Residents

Uiryeong County in South Gyeongsang Province is mobilizing emergency funds to provide 500,000 won in 'Region Love' gift vouchers to every resident in an effort to revive the sluggish local economy.

The impact of aid payments on local markets is confirmed by data. According to an analysis by the Bank of Korea, the average monthly sales of stores accepting the vouchers increased by 2.91% compared to those that did not accept them last year. This consumption-boosting effect was found to be more pronounced in non-metropolitan areas and regions with declining populations compared to the metropolitan area, and it brought an immediate rise in sales for small merchants and traditional markets.

The financial self-reliance rates of Uiryeong County and Hadong County, which are providing the aid, remain in the single digits. Furthermore, Tongyeong City faces a precarious fiscal situation, ranking just 7th in financial independence among the eight city-level local governments in the Gyeongnam region.

Regarding the expansion of livelihood support payments, Jinju City Council member Shin Hyeon-guk has called for the creation of a 'Jinju-style Livelihood Stability Support Fund.' Jinju City generates an annual net surplus of over 60 billion won in its general account.