South Korea’s Jeollanam-do Province Announces Sweeping New Policies to Boost Economy, Welfare & Safety
Jeollanam-do, South Korea – Jeollanam-do province has unveiled a complete package of new initiatives and revised policies set to roll out in the second half of 2024, aiming to invigorate the regional economy, enhance citizen welfare, and bolster public safety. The plan encompasses six key areas: support for small and medium-sized exporters (SMEs), job creation, agriculture, fisheries, tourism, and social welfare.
A total of twenty new policies are included, designed to alleviate financial burdens on residents and stimulate growth across the province.
Key Highlights by Sector:
Economy & Jobs: Export-focused SMEs will benefit from financial assistance of 1 million won per $10,000 in exports (capped at 5 million won annually per company). The province will also fully cover safety inspection costs for exported algae, up to 20 million won per year.Venture companies relocating to Jeollanam-do will be eligible for investment subsidies ranging from 100 million to 500 million won, based on employment numbers. A second round of “People’s Live Recovery Consumption Coupons” will be distributed, offering economic stimulus to residents.
Agriculture, Forestry, Fisheries & Marine: The province is streamlining regulations and increasing on-site support for these vital sectors. Changes include allowing worker installations in agricultural promotion areas, expanding government permissions for farmland use, simplifying complaint procedures, and transferring marina registration and management authority to local jurisdictions. A new fishery seed industry license will promote seed cultivation, and hygiene guidelines for foreign workers in food manufacturing will be available in five languages (including English and Vietnamese).
Tourism, Culture & Sports: Jeollanam-do has secured approval to host the “2025 Namdo international Gourmet Industry Expo” in Mokpo, a first-of-its-kind event in the nation focused on the gourmet food industry. Start-up promotion will be expanded to include shared office spaces.
Welfare, Population & Women: The province will provide self-support operators with up to 1.5 million won in assistance, depending on thier service period. Innovative technologies will be integrated into elderly healthcare services through the application of AI and IoT in 22 cities. Support for families with multiple children will be increased, and provisional support for at-risk youth facing suicidal ideation will be expanded. The adoption process will also be streamlined.
Safety & Environment: A new “Village Safety Guard” (Village Patrol) program will be implemented to enhance local disaster response and improve resident safety,notably in areas surrounding dams.
General Administration: democratization movement victims aged 65 and over will receive a monthly stipend of 60,000 won. Moreover, the scope of investigations into the Yeosun Incident will be expanded from Wando to encompass all regions of Jeollanam-do.
Yoon Jin-ho, head of the planning and coordination department at Jeollanam-do, stated, “We will do our best to improve the quality of life of our citizens by continuously developing effective policies that reflect the needs of the community.”
for more information,visit the Jeollanam-do Nuri House website: http://www.jeongnam.go.kr
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