Busan, South Korea – In a bid to stimulate its struggling local economy, Busan Metropolitan City has initiated a relay pre-payment campaign. The city is also set to invest heavily in traditional markets to boost their vitality.

The city announced on January 7th the launch of the "Busan-style Good Payment Campaign" aimed at supporting local small and medium-sized enterprises and self-employed individuals. This campaign encourages residents to pre-pay for goods or services at their favorite local shops and then return to make purchases at a later date.

The campaign was kickstarted by Busan Mayor Park Hyung-jun and Yang Jae-seong, chairman of the Busan Chamber of Commerce and Industry, who made pre-payments at Namhang Market in Yeongdo District last month.

Choi Geum-sik, chairman of Sunbo Industrial, will be the first participant in January, visiting a traditional market in Saha District on the 8th to continue the relay. The city plans to encourage other local business leaders to participate in the campaign until the end of the month.

To encourage greater public participation, the city is also hosting a "Good Payment" campaign for citizens. Residents who pre-pay 100,000 won or more at their local shops and upload their receipts and photos to the Busan City website will be eligible for a raffle to win Onnuri gift certificates.

Meanwhile, Busan City has secured 71 billion won in government funding for five projects selected for the "2025 Traditional Market and Shopping District Revitalization Project" organized by the Ministry of SMEs and Startups. The city will contribute an additional 59 billion won to support various projects, bringing the total investment to 134 billion won.

[ⓒ Global Economic Times. 무단전재-재배포 금지]