[Asia Economy Reporter Jong-il Park] The Gwangjin District Council (Chairman Goyang Seok) will hold a special session on the 25th to review the ‘COVID-19 supplementary budget’.
The Operations Committee (Chairman Park Sun-bok) held a meeting on the morning of the 23rd and finalized the schedule for the special session to review the supplementary budget proposal of 20.1 billion KRW, which was urgently submitted to overcome COVID-19.
This special session will be conducted in a single day with a minimized schedule, considering the urgency of the matter to achieve an early resolution of COVID-19 and minimize damage to the local economy and people’s livelihoods. Deliberations on ordinances and other agenda items will be held at the next special session next month.
The main schedule includes electing the Budget and Accounts Committee chairman on the morning of the 25th, followed by preliminary reviews of the first supplementary budget proposal for 2020 by each standing committee. In the afternoon of the same day, the Budget and Accounts Committee will hold a meeting to swiftly review the supplementary budget proposal after the preliminary review and conclude the agenda.
In particular, the supplementary budget proposed by the executive branch is composed of a total of 25 projects amounting to 20.1 billion KRW: 7.5 billion KRW for 8 projects to revitalize the local economy, which has been stagnated due to COVID-19; 2.2 billion KRW for 3 projects supporting job creation; 3.3 billion KRW for 4 projects to strengthen quarantine measures to prevent the spread of COVID-19; and 7.1 billion KRW for 10 projects to prepare available budgets for the prolonged COVID-19 situation and support other projects.
The district explained that this supplementary budget, which is 3.5% larger than the existing budget, focuses on proactively preventing the spread of COVID-19 and revitalizing the local economy and people’s livelihoods so that residents can return to their daily lives as soon as possible. It was organized with the minimum essential items that can be executed to emphasize the urgency of support and maximize effectiveness.
Chairman Goyang Seok said, “Since this supplementary budget is being urgently promoted to overcome COVID-19, the council has also focused on rapid processing of agenda items and significantly shortened the session to just one day.” He added, “I hope the executive branch will also strive to execute the budget quickly and efficiently so that residents can directly feel the effects and the region can regain vitality.”
This supplementary budget proposal is scheduled to be finally approved at the plenary session on the 25th.
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