Social Affairs
Yongin City officially debt-free
Jan. 17, 2017
Yongin, once South Korea’s most indebted city, is now officially debt-free, Mayor Jung Chan-min declared Tuesday. The city of 1 million, located some 40 kilometers south of Seoul, will now embark on a mission to make the city a better place to live for its residents, investing in key sectors, including education and welfare, the mayor said. “Thanks to the support of residents and burden-sharing by some 3,000 city officials, we could achieve the debt-free goal much earlier,” Jung said at a press