The Korea Racing Authority's Gyeongryun Gyeongjeong Headquarters has joined forces with Gwangmyeong City and key local institutions to enhance the regional economy and promote community assetization.
On October 13, the Gyeongryun Gyeongjeong Headquarters announced that it had signed a 'Community Assetization Memorandum of Understanding' with Gwangmyeong City and various local organizations.
The agreement aims to establish a circular economic structure where the value added in the region leads to local production, consumption, and reinvestment, fostering sustainable development and cooperative relationships among participating institutions.
The agreement includes Gwangmyeong City, the Gyeongryun Gyeongjeong Headquarters, the Gwangmyeong Office of Education, Gwangmyeong Police Station, Gwangmyeong Fire Station, Gwangmyeong Tax Office, and the Gwangmyeong branch of the National Health Insurance Service.
Participating organizations have committed to supporting local businesses through prioritized purchasing of regional products and services, utilizing human and material resources for social contributions and reinvestment in the community, establishing joint projects and networks, and identifying collaborative projects related to community assetization.
They also plan to operate a working-level consultative body to share project progress and discover new collaboration tasks.
Previously, the Gyeongryun Gyeongjeong Headquarters collaborated with local social enterprises to create upcycled products from discarded banners and bicycle tires, donating them to local schools for disabled students and vulnerable groups, linking resource circulation with social contributions.
In February, they hosted the 'Gwangmyeong Balance Bike World Championship' in partnership with local prospective social enterprises and have been conducting tours of the Gwangmyeong Speedom in conjunction with the city's fair travel program, 'Gwangsim Bogam.'
A representative from the Gyeongryun Gyeongjeong Headquarters stated, 'Through this agreement, we will strengthen cooperation with local institutions and contribute to revitalizing the regional economy through the development of local businesses and social contribution activities.'
He emphasized, 'We will continue to share our resources and capabilities with the community and fulfill our social responsibilities as a public institution.'
* This article has been translated by AI.
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