130 Billion KRW for COVID-19 Response and Regional Economic Revitalization, 25 Billion KRW for Resolving Resident Inconveniences and Promoting Current Projects, etc.
[Asia Economy Reporter Jong-il Park] Dongdaemun-gu (Mayor You Deok-yeol) has finalized the supplementary budget proposal, which increases the general and special account budgets by 78.4 billion KRW, after review and approval by the district council.
This supplementary budget focuses on responding to COVID-19, revitalizing the local economy, resolving residents' inconveniences, and advancing pending projects.
On May 17, the district submitted to the council a supplementary budget proposal totaling 800.07222 billion KRW, which includes an increase of 70.4625 billion KRW in the general account and 8.04784 billion KRW in the special account, added to the existing budget of 721.61813 billion KRW. Additionally, a fund operation change plan worth 53.93841 billion KRW, increased by 13.25 billion KRW, was submitted.
The Dongdaemun-gu Council (Chairperson Lee Hyun-joo) reviewed the first supplementary budget proposal for 2021, submitted by the executive branch, through three standing committees and then forwarded it to the Budget and Accounts Special Committee. The committee reduced the budget by 3.22375 billion KRW before submitting it to the plenary session.
On the 18th at 11 a.m., during the 2nd plenary session of the 306th regular meeting, the council approved the budget proposal as reviewed and adjusted by the Budget and Accounts Special Committee. The reduced general account budget of 3.22375 billion KRW was allocated to the contingency fund.
With the confirmation of this first supplementary budget of the year, the district can expand projects aimed at alleviating residents' difficulties caused by COVID-19 and revitalizing the local economy.
Furthermore, efforts will be intensified to resolve residents' inconveniences and advance pending projects.
First, 1.9 billion KRW will be invested in COVID-19 support projects, including living support funds. To prepare for the prolonged COVID-19 situation, 3 billion KRW has been allocated as disaster contingency funds. Additionally, 5 billion KRW and 7.7 billion KRW will be added to the financial stabilization accounts of the Integrated Financial Stabilization Fund, and 100 million KRW will be added to the Inter-Korean Exchange Cooperation Fund.
To revitalize the local economy, which has been depressed due to COVID-19, 3.1 billion KRW has been allocated for issuing Dongdaemun-gu Love Gift Certificates, modernizing traditional market facilities, and improving working environments for clothing manufacturers.
Notably, having issued and sold 15 billion KRW worth of Dongdaemun-gu Love Gift Certificates in the first half of the year, an additional 11.6 billion KRW will be issued through this supplementary budget. This will bring the total issuance of local love gift certificates in 2021 to 26.6 billion KRW, promoting the activation of local commercial districts.
A budget of 25 billion KRW will be invested to eliminate residents' inconveniences and improve local infrastructure and the environment, ensuring no gaps in advancing pending projects.
Major projects include 800 million KRW for the creation of libraries and book cafes, 600 million KRW for the construction of a senior comprehensive welfare center, and 800 million KRW for establishing a joint childcare room and a health family support center education hall.
Other projects include 2.1 billion KRW for purchasing sites for loading and unloading household waste, 1.5 billion KRW for park and Jungnangcheon embankment management, 2.2 billion KRW for facility maintenance and pedestrian environment improvement at Hyehwa Station, and 900 million KRW for winter snow removal measures. These projects will be carefully implemented to meet residents' needs.
To create a safe and pleasant local environment, 5 billion KRW has been allocated for undergrounding projects, 3.8 billion KRW will be invested in road, river, and traffic facility maintenance in the district's outer areas, and 5 billion KRW will be transferred and supported to the special account for parking lots to alleviate local parking shortages.
Mayor You Deok-yeol of Dongdaemun-gu stated, “We prepared this supplementary budget with the residents facing difficulties due to the prolonged COVID-19 situation in mind, aiming to actively promote projects. By timely and appropriately allocating the supplementary budget, we will not only strive to overcome COVID-19 and recover the local economy but also accelerate project implementation to ensure residents’ daily lives are not inconvenienced.”
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