delivery time2023-03-12 05:31
Review support for tourism, agriculture and fisheries, and small businesses within the scope of not stimulating prices
Travel-related consumption coupons, Onnuri gift certificates, etc. are likely to be subject to review
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(Sejong = Yonhap News) Correspondents Park Yong-ju, Cha Ji-yeon, and Kwak Min-seo = The government is considering a plan to announce measures to promote domestic consumption, such as domestic tourism and service industries, by the end of this month at the earliest.
It is seeking smart support measures for necessary fields such as tourism, agriculture and fisheries, and small businesses within the range that does not stimulate prices.
According to government authorities on the 12th, ministries such as the Ministry of Strategy and Finance, the Ministry of Culture, Sports and Tourism, the Ministry of Agriculture, Food and Rural Affairs, and the Ministry of SMEs and Startups are preparing measures to boost domestic demand with the goal of announcing it at the end of this month.
A government official said, “It is actually the first spring in three years when almost all forms of distancing are lifted after the novel coronavirus infection (Corona 19) incident.” are doing,” he said.
Another government official said, “We are discussing measures such as revitalizing domestic tourism and promoting consumption related to small businesses while not stimulating prices.”
In line with the atmosphere of resuming international tourism, the government is reviewing measures to promote foreign tourism to Korea first.
With the lifting of the mandatory COVID-19 test for inbound travelers from China and the increased number of flights, the government is looking for various ways to attract Chinese tourists to South Korea, believing that overseas tourism will increase.
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Various support measures to promote domestic travel are also being reviewed. It is an attempt to boost domestic consumption by redirecting the recent surge in overseas travel demand to Korea.
In this regard, the government is said to be looking into issuing consumption coupons related to the tourism industry, such as travel and lodging.
In 2021, when COVID-19 distancing measures were eased, the government supported consumption coupons such as tourism and lodging.
Accommodation coupons were conducted in such a way as to give a discount of 30,000 to 40,000 won for accommodation when making a reservation online.
The tourism revitalization plan is also a plan to improve the service balance deficit that is threatening the Korean economy.
The government is said to be considering a special sale of Onnuri gift certificates to encourage consumption by small business owners and traditional markets.
It is a method of increasing the issuance of Onnuri gift certificates or raising the discount rate by using the Small Enterprise Market Promotion Corporation fund. The discount rate for Onnuri gift certificates is usually 5-10%.
Consumption promotion events such as the Korea Sale Festa will also be held. It is highly likely that it will be a way to expand participation not only for large companies, but also for small and medium-sized distributors/manufacturers and small businesses.
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The method of operating consumption coupons for related fields in order to promote consumption of agricultural and livestock products is also subject to review.
The government has held a 10-40% discount event for agricultural, livestock and marine products with the aim of boosting domestic demand ahead of Lunar New Year or Chuseok or after the distancing of Corona 19 was lifted.
The government is in a position to implement this domestic demand measure as a smart measure limited to essential areas within the framework of existing macroeconomic policies.
As the current macroeconomic policy’s primary goal is price inflation, it is to ensure that increased demand following domestic consumption measures does not lead to a situation that stimulates prices.
The possibility of additional budget input, such as drafting an additional budget, is also closed.
In this respect, it is highly likely that funds will be raised through the transfer or transfer of the existing budget or through changes in the fund management plan.
A government official explained, “Currently, each ministry is putting their heads together to look at ways to stimulate domestic demand that can be applied.”
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2023/03/12 05:31 Send