Dongdaemun-gu, 2021 Budget Set at 685.6 Billion Won... Focus on Revitalizing Local Economy

423 Billion KRW Increase Compared to 2020... General Account Set at 662 Billion KRW, Special Account at 23.6 Billion KRW... Creating a Livable and Dynamic City through Regional Economic Revitalization and Resident Life Stabilization

[Asia Economy Reporter Jongil Park] Dongdaemun-gu (Mayor You Deok-yeol) has prepared a 2021 budget proposal of 685.6 billion KRW and submitted it to the district council.

The budget consists of 662 billion KRW in the general account and 23.6 billion KRW in the special account, representing a 6.6% increase compared to this year's original budget of 643.3 billion KRW.

Separately from the general and special accounts, a fund operation plan of 40.6 billion KRW has been prepared.

The district focused on discovering and promoting Dongdaemun-type New Deal projects suited to the post-COVID-19 era and local conditions, while also emphasizing the faithful implementation of projects for regional development and residents' livelihood stabilization, such as supporting small business owners and self-employed individuals to recover from COVID-19 damage, stabilizing the local economy through employment reinforcement, and addressing low birthrate and aging population issues with strengthened customized welfare services.

For COVID-19 response, 800 million KRW was allocated for medical support personnel and operation of screening clinics, as well as COVID-19 quarantine. Additionally, a disaster management fund of 6.3 billion KRW will be separately operated for the prevention and rapid response to various disasters including COVID-19.

The welfare budget was increased by 17.3 billion KRW from this year to 362.2 billion KRW, accounting for 54.7% of the total budget for next year. Detailed allocations include ▲senior basic pension 123.4 billion KRW ▲livelihood benefits 41.9 billion KRW ▲infant and toddler childcare fee support 33.2 billion KRW ▲disability activity support 11.3 billion KRW ▲emergency welfare support 2.9 billion KRW, among others.

Efforts will also be devoted to supporting small business owners and self-employed individuals recovering from COVID-19 damage, revitalizing traditional markets, promoting various job projects, and revitalizing the local economy. Allocations include ▲traditional market management and facility modernization projects 1.13 billion KRW ▲Seoul citizens’ safe jobs and local quarantine/community job projects 3.7 billion KRW ▲mobile local love gift certificate discount compensation 300 million KRW.

To nurture future talents and improve the educational environment, Dongdaemun-gu will actively invest in education budgets such as ▲entrance preparation support project 270 million KRW ▲elementary, middle, and high school education expense subsidies 7.5 billion KRW ▲free education burden and eco-friendly free meals support for elementary, middle, and high schools 4.9 billion KRW ▲Seoul-type innovative education district promotion 500 million KRW.

For Dongdaemun-gu’s unique traditional and local cultural events, budgets of ▲spring flower festival 110 million KRW ▲world street dance festival 30 million KRW have been allocated.

These events are planned to be held non-face-to-face if COVID-19 continues.

To create a city with health and culture, budgets include ▲78 billion KRW for management and operation of public sports facilities such as Dongdaemun-gu Gymnasium ▲4.9 billion KRW for library operations to improve resident accessibility ▲1.7 billion KRW additionally allocated for movie exhibition and experience center projects.

For a safe and pleasant urban environment, the budget reflects ▲1.7 billion KRW for maintenance and management of sewage facilities ▲1.6 billion KRW for maintenance of rainwater pumping stations and safety inspections of sluices ▲2.1 billion KRW for maintenance and repair of street and security lights ▲1.2 billion KRW for operation of the CCTV integrated control center.

Additionally, the district allocated ▲42.2 billion KRW for waste and recyclable material processing and cleaning ▲150 million KRW for residents’ life safety insurance and bicycle insurance subscription, carefully preparing the budget so residents can live in a more pleasant and safe environment.

Mayor You Deok-yeol of Dongdaemun-gu stated, “While thoroughly conducting quarantine measures against COVID-19, we will also prepare thoroughly for the changed daily life after COVID-19 and lead future district administration. The 2021 budget was carefully reviewed and prepared to include only necessary projects for revitalizing the local economy and stabilizing residents’ lives. We will do our best to properly use the allocated budget to make Dongdaemun-gu a better and more dynamic place to live.”

Meanwhile, this budget proposal is scheduled to be finalized on December 15 after review and resolution by the Dongdaemun-gu Council.