“An MOU Signing Ceremony with Bank Presidents for the ‘Daegeum e-Baro’ System”
1. ‘Daegeum e-Baro’ System
Innovation is happening in a whole host of areas in Seoul. Past ways of doing things are giving way to new, innovative methods. The city administration is taking various reform measures to promote citizens’ convenience and public interest. Today, I would like to introduce you to the ‘Daegeum e-Baro (literally ‘payment e-immediately’)’ system, which is designed to prevent any manipulators from trying to default on or put off their construction payments to subcontractors and workers. The past wrongful practice was a chronic social ill in Korea that many took for granted for too long.
Today, I signed a memorandum of understanding (MOU) regarding construction payments with presidents of Kookmin Bank (KB) and NH Bank together Park Hong-seop, head of the Mapo District representing the Seoul District Head Council. According to a new payment system, the construction payments made by the city government are managed by banks in separate accounts of labor, equipment and materials, and the entire payment process – from the client (Seoul City) to prime contractors, subcontractors, workers, equipment renters or materials suppliers – is strictly monitored and controlled to ensure that everyone on site is paid as soon as the city administration makes a payment to one of its prime contractors.
Now no subcontractor, equipment renter, materials supplier or worker that are working for a construction project ordered by the city government will be left unpaid after the administration makes a payment to its main contractor. The city administration can easily review everything about the entire payment process. Now no one will suffer from the wrongful practices in the construction industry of the past.
I am sure that through the implementation of the ‘Daegeum e-Baro’ system, the culture of a fair trade between big and small businesses will gain significant momentum for improvement, and the new practice of shared growth between small companies and their workers will take root strongly in the city of Seoul.
“Seoul Subway Screen Doors Open to Citizen’s Ads”
2. Seoul Offers Free Ad Spaces to Citizens
“It is a dream come true; small businesses can advertize on the subway and at bus stops.” With the Seoul subway and many other public facilities like bus stops now open to them free of charge, small businesses and civic organizations are applauding the decision.
A total of 213 entities applied to the initiative, dubbed “the Contest for Seoul Citizen Hope Ad Materials.” The Citizen Public Interest Advertising Evaluation Board chose 40 of them – 12 small businesses and 28 civic organizations. They will be divided into two groups.
The types of facilities that will be open to them include street kiosks, bus stops (shelters) and various subway locations including corners on subway cars, spaces above subway doors, subway advertising frames, bulletin boards, wide color boards, screen doors, screen door frames and subway video screens. Each small business or civic group can use two or three spots at its designated location depending on the situation.
An official of the city administration says that the opening of advertising spaces to citizens is designed to provide small businesses with the most effective ways to advertise their products, which could not even imagine doing advertising in such locations because of costs involved. This also offers non-profit organizations that are struggling to help the needy despite the odds, an opportunity to appeal to the public to promote their invaluable causes.
So, the question is, we have done well, haven’t we?