Seoul: President Lee Jae Myung has called on citizens to support local businesses by dining out, as part of a strategy to invigorate domestic demand. On Friday, Lee dined at a restaurant in central Seoul with his staff, aiming to showcase the importance of supporting small brick-and-mortar restaurants and merchants facing challenges due to sluggish domestic demand.
According to Yonhap News Agency, Lee emphasized the significance of visiting local eateries to help revive the local economy and foster a promising future for South Korea. His appeal coincides with the government's plan to distribute cash handouts to all citizens starting July 21, designed to stimulate domestic spending.
The initiative will provide a one-time payment of 150,000 won to South Korean citizens residing in the country, with the amount adjusted based on income levels. President Lee has tasked senior aides with developing strategies to maximize the impact of these cash handouts, which are part of an additional budget aimed at boosting private consumption.