Increased by 436.7 Billion Won Over the Initial Budget
Fully Committed to Driving Future Growth Engines
Changwon Special City in Gyeongnam recently submitted the 1st supplementary budget proposal to the Changwon Special City Council to establish a foundation for future growth and enhance the local economy and urban vitality.
The total scale of the budget proposal submitted on May 25 is 4.1365 trillion KRW, an increase of 436.7 billion KRW (11.8%) compared to the original budget. The general account increased by 387.4 billion KRW (11.95%) to 3.6284 trillion KRW, and the special account increased by 49.3 billion KRW (10.74%) to 508.1 billion KRW. The expenditure increases by sector are as follows: social welfare 103.3 billion KRW, transportation and logistics 66.6 billion KRW, environment 56.5 billion KRW, and industry and economy 44.4 billion KRW.
Looking at the major investment projects by sector in the general account, the social welfare budget was increased by 103.3 billion KRW, including ▲basic pension 11.3 billion KRW ▲disability activity support expenses 8.5 billion KRW ▲senior job projects 6.6 billion KRW. For building a convenient and safe urban infrastructure, the transportation and logistics sector was increased by 66.6 billion KRW, including ▲children protection zone improvement project 2.2 billion KRW ▲construction of connecting road between Mudong and Mugok 2.0 billion KRW ▲traffic improvement project around Changwon Central Station 0.8 billion KRW.
In the environment sector, funds were allocated for ▲private electric vehicle distribution support 27.7 billion KRW ▲private consignment fees for cleaning services 10.3 billion KRW. To revitalize the local economy and strengthen the competitiveness of key industries, the industry, small and medium enterprises, and energy sectors were increased by 44.4 billion KRW, including ▲Nubijeon discount compensation 6.0 billion KRW ▲hydrogen fuel cell support 4.4 billion KRW ▲establishment of an advanced support platform for small and medium special ships 2.5 billion KRW. Additionally, the agriculture, forestry, marine, and fisheries sector was increased by 28.3 billion KRW, including ▲reinforcement development of Changwon field index 1.0 billion KRW ▲Osuh district rural space maintenance 0.8 billion KRW.
Furthermore, project funds were allocated to ensure the smooth progress of large-scale investment projects such as ▲Myeongdong Marina port construction 5.5 billion KRW ▲Jinhae rental-type knowledge industry center construction 5.0 billion KRW ▲Changwon City Democracy Hall construction 4.5 billion KRW ▲Jinhae cultural center and library construction 4.1 billion KRW ▲Wanwoldong administrative welfare center construction 4.0 billion KRW.
Hong Nampyo, Mayor of Changwon Special City, said, “Amid the ongoing domestic and global economic downturn, our city’s local economy is experiencing unprecedented difficulties. We will allocate the budget to essential areas to stabilize the people’s economy and establish a foundation for sustainable growth.”
Meanwhile, the 1st supplementary budget proposal for Changwon City will be finalized on the 30th after going through the 125th regular session of the Changwon City Council starting on the 5th.
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