Seongdong-gu Allocates 40.1 Billion Won in Supplementary Budget, Promotes Jangteo-gil Maintenance and More

[Seoul District News] Seongdong-gu Addresses Resident Inconveniences with Maintenance of Riverside Facilities and Jangteo-gil Repairs Following Recent Heavy Rain... Gangdong-gu Prepares First Supplementary Budget of 8th Mayoral Term... Dongdaemun-gu Issues Additional 16.6 Billion Won in Dongdaemun Love Gift Certificates for Chuseok... Guro-gu Adds 16.3 Billion Won in Guro Love Gift Certificates... Gwanak Issues Additional 14.4 Billion Won in Gwanak Love Gift Certificates

[Asia Economy Reporter Park Jong-il] Seongdong-gu (Mayor Jung Won-oh) has prepared an additional budget proposal totaling 40.1 billion KRW for the first time in the 8th term of the elected government.

This supplementary budget prioritizes resident convenience projects to address inconveniences experienced by residents, such as maintenance of facilities damaged by heavy rain and improvement of Jangteo-gil, while continuing community-based administration through the expansion of Seongdong-type smart shelters and heated chairs.

To this end, Seongdong-gu allocated ▲617 million KRW for maintenance of riverside facilities, sports convenience facilities, and bicycle road management ▲610 million KRW for Jangteo-gil pedestrian and vehicle road maintenance ▲155 million KRW for sidewalk expansion on Gosan-ja-ro 2-gil.

Smart community-based administration will also continue. ▲60.4 million KRW for installation of heated chair smart resident convenience facilities ▲37.6 million KRW for establishment of a smart civil complaint form creation system ▲18.3 million KRW for installation of small smart shelters. Additionally, 443 million KRW was allocated for operation of public sports facilities including free meals for infant sports groups and swimming instructor fees, and 100 million KRW for running vacation period working schools to ensure uninterrupted care, totaling 10.958 billion KRW.

Support for vulnerable groups includes ▲358 million KRW for strengthening senior centers’ functions ▲307 million KRW for job support for the disabled ▲100 million KRW for universal support of sanitary products for female adolescents. Furthermore, 250 million KRW was allocated for riverside landscape and usage environment improvement projects between Yongbi Bridge and Eungbong Bridge, and 310 million KRW for consulting and festival hosting for cultural city designation, totaling 1.952 billion KRW.

In addition, 17.725 billion KRW was allocated for national and city subsidies in childcare and welfare sectors. This supplementary budget will be reviewed and approved during the 268th Seongdong-gu Council extraordinary session starting August 30 and finalized on September 7.

Jung Won-oh, Mayor of Seongdong-gu, said, “This supplementary budget focuses on urgent projects to resolve various resident inconveniences by promoting diverse community-based projects. Once the supplementary budget is approved, we will promptly execute it and carry out empathetic administration that residents can feel.”

Gangdong-gu (Mayor Lee Soo-hee) has prepared the 2nd supplementary budget for the 2022 fiscal year to establish the vision and policy foundation of the newly changing 8th term elected government.

The finalized supplementary budget amounts to 1.0995 trillion KRW, an increase of 70.9 billion KRW (6.9%) compared to the existing budget. To promote regional balanced development and strengthen urban competitiveness, 11.2 billion KRW was allocated to regional development, roads, and transportation sectors, and 23.8 billion KRW to health, welfare, and safety sectors to build a social safety net for socially vulnerable groups.

Additionally, 4.6 billion KRW was secured through expenditure restructuring as additional available resources in line with new policy directions, and 15.9 billion KRW was allocated as a transfer to the public office facility construction fund to ensure stable funding for major investment projects.

The financial management direction for the 8th term elected government focuses on strengthening fiscal soundness and transparency. Due to expected decreases in local tax revenues caused by real estate market downturns and consumption contraction, similar and overlapping projects will be consolidated, and budgets will be efficiently managed. Large-scale investment projects currently underway will be prioritized and implemented annually.

To this end, after the launch of the 8th term, Mayor Lee Soo-hee visited all community centers and met residents from various sectors online to directly explain the current financial status and management direction of the district.

Moreover, the 8th term government plans to manage finances so that the benefits of taxes paid by residents are distributed evenly to all residents, not just a specific few.

Dongdaemun-gu (Mayor Lee Pil-hyung) will issue Dongdaemun-gu Love Gift Certificates worth 16.6 billion KRW at 1 PM on September 1 in celebration of Chuseok.

Consumers can purchase the gift certificates at a 10% discount, with a monthly purchase limit of 700,000 KRW (actual payment 630,000 KRW) per person to allow more people to benefit.

Purchasing and using the gift certificates is possible through apps such as SeoulPay+ (Seoul Pay Plus), T-money Pay, Shinhan SOL, Moneytree, and Shinhan Play. After downloading the application on a smartphone, users must register, verify their identity, and link a payment account for gift certificate purchase.

The gift certificates are valid for five years from the purchase date. Unused certificates can be refunded in full regardless of the period after purchase, excluding the preservation fee. If more than 60% of the purchase amount per transaction is used, the remaining balance can be refunded after deducting the discount amount.

The gift certificates can be used at about 10,000 Seoul Pay affiliated stores including supermarkets, small marts, beauty salons, kindergartens, and academies. However, large supermarkets, department stores, general academic and foreign language or arts entrance exam academies with annual sales over 1 billion KRW, major company-affiliated cinemas, and franchise direct stores of large and medium-sized companies are excluded.

Dongdaemun-gu issued 10 billion KRW worth of local currency in the first half of the year to stabilize prices and stimulate consumption for regional economic revitalization. Park Sang-jin, Director of Economic Promotion Division, said, “The Dongdaemun-gu Love Gift Certificates, which have received much love, will be issued in the amount of 16.6 billion KRW for Chuseok. We hope the issuance will help revitalize the local economy, which has been depressed due to the prolonged COVID-19 pandemic, and we will strive to strengthen management of affiliated stores and expand new affiliates to ensure smooth use of the certificates.”

Guro-gu (Mayor Moon Heon-il) will issue ‘Guro Love Gift Certificates’ worth 16.36 billion KRW on September 1.

Guro-gu announced on the 26th, “Ahead of Chuseok, we will additionally sell local currency ‘Guro Love Gift Certificates’ to increase residents’ purchasing power and invigorate the local economy.”

This issuance is the second round following the early sell-out of the 15 billion KRW worth of Guro Love Gift Certificates issued in January.

Consumers can purchase the gift certificates at a 10% discount up to 700,000 KRW per person (with a holding limit of 2 million KRW). The validity period is five years from the purchase date.

The certificates can be used via mobile payment at 10,414 Seoul Pay Plus affiliated stores within the district, excluding large supermarkets and department stores, as well as Shinhan Card affiliated stores. When paying with the certificates, consumers can receive a 30% income deduction benefit during year-end tax settlement.

Purchases can be made from 5 PM on September 1 through five apps: Seoul Pay Plus, Shinhan SOL, T-money Pay, Moneytree, and Shinhan Play, in units of 10,000 KRW. Purchases can be made with cash or Shinhan Card, and if the certificates are unused after purchase, they can be fully canceled regardless of the holding period.

A Guro-gu official said, “We expect this issuance to invigorate the local economy along with the upcoming Chuseok holiday. We will continue to prepare various support measures to revitalize the local economy.”

Gwanak-gu (Mayor Park Jun-hee) will issue Gwanak Love Gift Certificates worth 14.4 billion KRW ahead of the Chuseok holiday to somewhat ease the burden of grocery prices for local residents. This is the third issuance this year following 22 billion KRW in January and 10 billion KRW in April.

This issuance is expected to alleviate residents’ concerns over soaring prices of ceremonial table items and bring significant vitality to local small businesses suffering from flood damage and the resurgence of COVID-19.

Issued for the purpose of revitalizing the local economy, the ‘Gwanak Love Gift Certificates’ have become a central medium for residents’ consumption in their third year of implementation. There are about 11,200 affiliated stores within the district, including marts, restaurants, gas stations, coffee shops, lodging businesses, and retail stores.

The district has issued a total of 120.8 billion KRW in local currency, including 109 billion KRW worth of Gwanak Love Gift Certificates and 11.8 billion KRW in special issuance certificates such as the special support certificates for commercial district recovery issued last December and e-Seoul Love Gift Certificates, contributing to a virtuous cycle in the local economy amid the prolonged COVID-19 pandemic.

Of the 119.3 billion KRW sold so far, 107.3 billion KRW had been used as of the end of June this year, achieving a payment rate of 88.7%. The certificates circulate within the district, playing a vital role in increasing sales for small business owners and local small merchants.

‘Gwanak Love Gift Certificates’ can be purchased and used through five apps: Seoul Pay+, T-money Pay, Shinhan SOL, Moneytree, and the newly opened Shinhan Play.

The certificates are issued in mobile form in units of 10,000 KRW, with a charging limit of up to 700,000 KRW, a discount purchase limit of 700,000 KRW, and a maximum holding limit of 2 million KRW.

Purchases can be canceled at any time regardless of the period, and for balance refunds, the remaining balance after using at least 60% of the certificate and excluding the discount subsidy will be refunded as before.

For detailed information about the certificates, contact Seoul Pay Customer Center, Dasan Call Center, or Gwanak-gu Regional Commercial District Revitalization Division.

Mayor Park Jun-hee said, “We hope the Gwanak Love Gift Certificates issued ahead of Chuseok will revive the depressed consumer sentiment and bring vitality to local small businesses suffering from flood damage and the prolonged COVID-19 pandemic, making it a Chuseok where residents and small merchants can smile together.”