Table of Contents
- Busan City's 2025 First Supplementary Budget, Significant Support Expansion for Small Businesses and Traditional Markets… 'Adding Vitality to the Livelihood Economy' Actively Pursued
- Strengthening 3-Free Card and Guarantees… 432.5 Billion Won in Financial Support
- Busan Sale Festa and Onnuri Refund… 3.1 Billion Won for Consumption Promotion
- Expansion of Dongbaekjeon Cashback Limits and Accrual Rates… 27 Billion Won in Emergency Support
- Support for the Rehabilitation and Employment of Closed Small Businesses Concurrently
- Revitalization of Traditional Markets and Local Enterprises Intensifies
- Policy for Recovery of Livelihood and Promotion of Consumption, Busan City's Policy is Now 'Speed War'
Busan City's 2025 First Supplementary Budget, Significant Support Expansion for Small Businesses and Traditional Markets… 'Adding Vitality to the Livelihood Economy' Actively Pursued
Busan City is establishing its first supplementary budget for 2025 and taking strong measures to support small business owners and traditional markets.
Under the theme 'Adding Vitality to the Livelihood Economy', a total of 468.8 billion won will be rapidly implemented in 14 support projects in the first half of the year to assist small business owners who are struggling due to high prices and reduced consumption.
This policy consists of customized support measures that encompass financial support, consumption promotion, and rehabilitation of closed small businesses, which is expected to have a positive impact on the local economy.
Strengthening 3-Free Card and Guarantees… 432.5 Billion Won in Financial Support
The key point is the expansion of financial support for small business owners. A noteworthy new support project is the 'Small Business 3-Free Hope Multiplication Card'.
This card will be provided with no interest, annual fees, or guarantee fees, supporting up to 200 billion won in total funds for a maximum of 500,000 won each for 40,000 people.
Additionally, through the expansion of investment from the Busan Credit Guarantee Foundation, the special financial support limit for small business owners will increase to 650 billion won, with additional interest subsidies provided to significantly reduce the financial burden on small business owners.
Busan Sale Festa and Onnuri Refund… 3.1 Billion Won for Consumption Promotion
Diverse strategies to stimulate local consumption will be implemented.
Events connecting online and offline, such as the Busan Sale Festa, will take place, along with support for tailored promotional events for traditional markets known as 'Traditional Market Sales Promotion Projects'.
Additionally, a new program that refunds Onnuri gift certificates based on the amount spent in the market will be introduced to encourage consumption.
Consumers will receive 5,000 won for purchases over 30,000 won and 10,000 won for purchases over 50,000 won, providing substantial benefits.
Expansion of Dongbaekjeon Cashback Limits and Accrual Rates… 27 Billion Won in Emergency Support
The cashback policy for Dongbaekjeon local currency, commonly used by Busan citizens, will be improved. By June 2025, the monthly cashback limit will increase from the current 300,000 won to 500,000 won, and the cashback rate will also be adjusted upward to a maximum of 7%.
Especially, a cashback benefit of 7% will be provided when using small business affiliates with annual sales of less than 1 billion won. This measure is expected to naturally promote the revitalization of alley economies and local shops.
Support for the Rehabilitation and Employment of Closed Small Businesses Concurrently
Various practical supports will be provided for small business owners who have closed their businesses to help them recover.
Firstly, 'Hope Double Account' and 'Employment Incentives' have been established, and the job training allowance will be increased from the existing 300,000 won to 600,000 won. This will greatly aid employment transition and re-employment. Incentives will be provided to employers who hire closed small business owners, further enhancing employment motivation.
Additionally, a new 'Management Improvement Total Package Support Project' will be launched to assist 200 small businesses facing management difficulties. This project aims to contribute to securing management stability for small business owners by providing consulting, management improvement funds, and financial cost support in a one-stop service.
Revitalization of Traditional Markets and Local Enterprises Intensifies
Various initiatives to revitalize traditional markets are being implemented simultaneously. Examples include 'Cultural Tourism Market Development', 'Digital Traditional Market Transformation', and 'First Steps Foundation Development Project'. Key support targets include the Chunmudong Dawn Market, the Haian Market, the Bansong Large Market, and the Busan Peace Market.
Furthermore, Yeongdo District is promoting a local industry development policy totaling 1.06 billion won, including support for business development costs of social economy enterprises along with efforts to create a coffee industry ecosystem. These policies are expected to contribute significantly to securing mid- to long-term growth momentum for the local economy.
Policy for Recovery of Livelihood and Promotion of Consumption, Busan City's Policy is Now 'Speed War'
‘Adding Vitality to the Livelihood Economy’ is taking shape as a comprehensive approach to strengthen the self-sufficiency of small businesses and increase local consumption, going beyond mere short-term support.
Busan City has shown a strong will to respond immediately to the difficulties arising in the field through this supplementary budget, aiming to achieve visible results within the first half of the year.
The speed war of the city government to revitalize the Busan economy in 2025 is set to begin now.
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