A total of 52.9 billion KRW allocated including customized emergency disaster relief funds... Practical and direct support for small business owners, low-income vulnerable groups, and unemployed youth... 10.69 billion KRW allocated for 72 life-oriented projects directly linked to residents' lives
[Asia Economy Reporter Park Jong-il] Nowon-gu (District Mayor Oh Seung-rok) has prepared a supplementary budget proposal totaling 52.9 billion KRW to support vulnerable groups affected by the prolonged COVID-19 pandemic and to implement resident-centered projects.
This supplementary budget proposal focuses on providing practical support to affected groups such as small business owners, low-income vulnerable groups, and unemployed youth through customized emergency disaster relief funds.
Key budget allocations include ▲support for small business owners who closed due to business restriction orders (500,000 KRW per location) totaling 960 million KRW ▲funding for low-interest loans for small business owners (up to 20 million KRW per company) totaling 1.55 billion KRW ▲unemployed youth support payments (within 2 years after final graduation, 500,000 KRW per person) totaling 3.95 billion KRW ▲customized support by industry (senior care facilities, daycare centers, local children’s centers, 1 million KRW per location) totaling 412 million KRW ▲customized support by industry (village bus companies, 10 million KRW per company) totaling 60 million KRW ▲support for religious facilities in the region for quarantine supplies (500,000 KRW per location) totaling 262.5 million KRW, amounting to a total of 7.2 billion KRW in disaster relief funds included in the supplementary budget proposal.
However, urgent support for ▲low-income vulnerable groups (100,000 KRW per person) totaling approximately 790 million KRW will be promptly implemented from contingency funds ▲an additional 550 million KRW has been secured to support low-interest loans for small business owners totaling 20 billion KRW, with district funds of 8.5 billion KRW and city funds included, providing a total of 20.5 billion KRW in disaster relief funds.
Additionally, 163 million KRW has been prioritized for operating temporary screening clinics and self-quarantine task forces to prepare for the normalization of COVID-19, along with 780 million KRW allocated to replenish the disaster management fund’s statutory reserve, which has been depleted.
Child welfare and childcare/care sectors requiring social attention will also be strengthened. A total of 1.16 billion KRW has been allocated to 10 social welfare projects, including operating shelters for abused infants and toddlers, reinforcing functions of private daycare centers, and the child care taxi project.
Furthermore, 1.94 billion KRW will be invested in 17 projects related to transportation, logistics, and regional development, such as improving the pedestrian environment around Wolgye Station to Induk University and upgrading aging sewage facilities, to maintain safe and pleasant urban infrastructure.
Focus will also be placed on creating cultural and sports infrastructure. A total of 1.46 billion KRW has been allocated to five projects in the culture and tourism sector, including the Danghyeoncheon covered structure landscape project and feasibility study costs for the construction of the second student gymnasium in the Gangbuk area, to enable residents to enjoy various cultural performances and sports infrastructure close to home.
In addition, 1.54 billion KRW has been included for 11 projects in general public administration and public order and safety sectors, such as environmental improvements for district offices to enhance resident convenience.
The supplementary budget resources will utilize last fiscal year’s net surplus of 20.55 billion KRW, carryover of returned national and city subsidies from the previous year amounting to 25.88 billion KRW, additional national and city subsidies of 6.08 billion KRW, and other revenues of 380 million KRW.
The supplementary budget proposal is expected to be finalized at the plenary session on the 26th of this month after review by the standing committee and the special budget and accounts committee.
Oh Seung-rok, Mayor of Nowon-gu, stated, “This supplementary budget focuses on providing practical help to residents struggling due to the prolonged COVID-19 pandemic,” adding, “We will also take care of urgent projects directly related to residents’ lives, such as creating healing spaces, to bring small but certain happiness to our residents.”
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