Gyeongbuk Sangju City Prepares Next Year's Budget of 1.137 Trillion Won

General Account Original Budget Surpasses 1 Trillion Won for the First Time

Sangju City Hall, Gyeongbuk.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Sangju City in Gyeongbuk Province has prepared the 2022 main budget proposal totaling 1.137 trillion KRW and submitted it to the Sangju City Council.

Sangju City announced that the budget was prepared based on strategic and expansive financial management for a new economic leap, increasing by 8.60% compared to the 2021 main budget of 1.047 trillion KRW, aiming to stabilize the livelihoods of small business owners and ordinary citizens and secure future growth engines.

The general account is 1.028 trillion KRW, other special accounts 14 billion KRW, and public enterprise special accounts 95 billion KRW, with the general account increasing by 10.3% compared to the previous year, surpassing 1 trillion KRW for the first time in the main budget.

The city reflected budgets across all sectors including the Sangju General Industrial Complex development project, Smart Green City project, natural disaster risk zone improvement project, cultural and arts center construction project, as well as expanding expenditures for prevention of new infectious diseases, preparing for low birthrate and aging population in health and welfare, and strengthening competitiveness of regional specialized projects.

The budget by sector was allocated as follows: general public administration 55.7 billion KRW, public order and safety 18.2 billion KRW, education 2 billion KRW, culture and tourism 70 billion KRW, environment 233.8 billion KRW, welfare and health 226.5 billion KRW, agriculture, forestry, and marine fisheries 181.7 billion KRW, industry, small and medium enterprises and energy 14.9 billion KRW, transportation and logistics 67.3 billion KRW, land and regional development 98.6 billion KRW, and contingency and others 168.3 billion KRW.

New projects included in the budget proposal are support for farmers' and fishermen's allowances, establishment of rental-type smart farms for existing farmers, entrusted projects for the Innovation Valley demonstration complex, Gangchanggyo natural disaster risk improvement district maintenance project, restoration of the northern gate of Sangju Eupseong, installation of biogas facilities, and creation of eco-friendly energy towns.

Job creation projects such as senior citizen job programs, support for activities of the disabled, self-support work projects, and local community job projects were separately allocated a total of 30.7 billion KRW.

For natural disasters such as heatwaves and wind and flood damage, as well as social disasters and safety accidents including wildfires, water play accidents, and infectious diseases, a total of 27.2 billion KRW was allocated under the disaster safety budget.

The 2022 budget proposal will be submitted to the 211th Sangju City Council’s 2nd regular session starting on the 29th, and after preliminary review by standing committees and comprehensive review by the Budget and Accounts Special Committee, it will be finalized.

Mayor Kang Young-seok said, “We focused on revitalizing the local economy to overcome COVID-19 and securing future growth engines, along with building a prosperous future Sangju.” He added, “We will do our best to ensure citizens feel the economic recovery through selection and concentration within limited resources.”