Second Budget Proposal of the 8th Elected Term Set at 829.3 Billion Won, 37.4 Billion Won Increase from 2023
Active Investment in Welfare for the Vulnerable, Revitalization of Local Economy, and Social Safety Management
Securing Funds through Intensive Expenditure Restructuring Amid Difficult Financial Conditions
Maximizing Project Efficiency within Limited Budget through 'Strategic Financial Management'
Dobong-gu (District Mayor Oh Eon-seok) has formulated the '2024 Budget Proposal' for November 2023 and submitted it to the district council.
The budget proposal prepared by Dobong-gu for 2024 amounts to 829.3 billion KRW. This is an increase of 37.4 billion KRW (4.72%) compared to this year's original budget of 791.9 billion KRW, with an emphasis on strengthening 'future investment' for the district's change and growth.
Despite difficult financial conditions caused by decreased tax revenue due to economic recession and real estate market uncertainties, which have reduced the average annual growth rate by more than half compared to 9.5% over the past five years, the district reviewed all projects from scratch and adjusted wasteful expenditures by stopping or reducing similar, overlapping, and low-performance projects.
The resources secured through efficient financial management were allocated according to priorities focusing on key projects of the 8th elected administration, including ▲a vibrant co-prosperity economic city ▲a safe and healthy happy city ▲a conveniently accessible balanced development city ▲a high-quality education and cultural city ▲a transparent and innovative clean administration city. The aim is to implement welfare for the vulnerable without blind spots, revitalize the local economy, and strengthen social safety management.
Looking at the budget status by major sectors, first, to create a vibrant co-prosperity economic city, 4.3 billion KRW was allocated for the Seoul Companion Job program targeting low-income vulnerable groups, 1.9 billion KRW for subsidies related to the issuance of Dobong Love mobile gift certificates worth 37.5 billion KRW, 650 million KRW for supporting traditional markets and shopping districts, support for small and medium enterprises and small business owners, and new operation of the Small Business Support Center, and 200 million KRW for entrepreneurship education and operation of the startup incubation center to expand support for jobs and small business owners. Additionally, 250 million KRW was allocated to revitalize the local economy through support for clothing and sock manufacturing companies and the establishment of a sock sales support center.
The budget also includes projects to establish a foundation for youth independence. Four hundred million KRW was allocated for Dobong youth support, including a first-start support fund (200,000 KRW) for 19-year-old youths coming of age in Dobong-gu, 500 million KRW for operating the Seoul Youth Center Dobong, which supports youth activities and community spaces, 500 million KRW for Seed Cube Changdong to provide startup spaces and practical entrepreneurship education for prospective and early-stage entrepreneurs to promote youth entrepreneurship, 300 million KRW for public institution, corporate, and overseas youth internships, 200 million KRW for building a youth talent pool in the 3D content industry to expand jobs in advanced industries, and 2 billion KRW as a youth fund transfer for youth rental and startup loan support.
Second, to create a safe and healthy happy city, despite difficult revenue conditions, the district increased essential welfare budgets to establish a welfare system without blind spots and build a robust social safety net.
Major projects include 174.3 billion KRW for basic pension support, 92.8 billion KRW for livelihood and housing benefits, 23.5 billion KRW for disability activity support, 13 billion KRW for expanding senior citizen jobs and social activity support, 34.4 billion KRW for infant care fees and parental benefits, and 300 million KRW for a new project supporting shingles vaccination for vulnerable elderly.
Furthermore, 475.6 billion KRW, accounting for 58% of the total budget, was allocated to social welfare to strengthen welfare recipient visit monitoring through the operation of the Our Neighborhood Care Team, establish a solitary death prevention management system, support single-person households among middle-aged, women, and youth, and promote the 'Dobong-style companionship with the vulnerable - Oh! Four-way Welfare' and provide 'seamless welfare services.'
Third, in the field of a conveniently accessible balanced development city, 4 billion KRW was allocated for road maintenance projects around Dodang-ro 15-gil, 1.7 billion KRW for constructing public parking lots in low-rise residential areas to alleviate parking difficulties, 1.5 billion KRW for Banghak Station environment improvement projects, 1 billion KRW for rapid integrated planning maintenance projects and Moa Town discovery promotion for swift and efficient reconstruction, redevelopment, and maintenance, 700 million KRW for improving bus stop usage environments including the creation of Dobong-style smart shelters, 700 million KRW for establishing and reorganizing district unit plans around Changdong-Sanggye housing development areas, and 180 million KRW for financial support to improve deficits of village bus companies.
Fourth, to create a high-quality education and cultural city, 7.9 billion KRW was allocated for educational expenses such as eco-friendly school meals and school facility environment improvements, 3.7 billion KRW for the establishment and operation of eight Our Neighborhood Care Centers to operate Dobong-style after-school activities and care systems, and 800 million KRW for operating Seoul-style kids cafes and children's cafeterias for healthy growth and development of children. Additionally, the district plans to reduce private education costs through internet CSAT broadcasting fees and native English video learning support, and provide diverse and systematic customized admission information to students and parents through admissions consulting and career guidance programs.
To promote local culture and arts, 11.2 billion KRW was provided to the Dobong Cultural Foundation and Dobong Cultural Center, and 300 million KRW was invested in supporting the municipal women's choir, boys and girls choir, symphony orchestra, and local cultural artists to foster residents' emotional development and nurture local cultural and artistic groups and artists. Ten billion KRW was also invested in managing sports facilities to provide safe and pleasant sports spaces and promote residents' recreational sports activities.
The safety budget for crime response and various disasters and accidents focused on proactive and preventive management. 1.6 billion KRW was allocated for operating the integrated CCTV control center to prevent crime and illegal dumping, 900 million KRW for improving and upgrading aging CCTV performance and maintaining urban park aging facilities such as children's playgrounds, and 240 million KRW for establishing a resident safety system including resident safety insurance enrollment and safety inspections for low-income groups.
Additionally, 200 million KRW was allocated for installing flood prevention facilities in semi-basement houses, 2.7 billion KRW for maintenance of sewage facilities to prepare for flooding, and 1.6 billion KRW for snow removal measures to maintain road functions in winter, actively reflecting budgets to prevent worsening climate change and major disasters.
This budget proposal maximizes financial efficiency through 'strategic financial management' that cuts where possible and spends properly where necessary, given the expected difficult financial conditions next year and high financial demand for supporting the vulnerable.
Oh Eon-seok, Mayor of Dobong-gu, said, “Despite the more difficult financial conditions than ever due to worsening domestic and international economic conditions, we formulated the budget prioritizing welfare for the vulnerable, revitalization of the local economy, and social safety management through expenditure structure adjustment.” He added, “Going forward, we will continuously promote major pending projects through strategic financial management and boldly invest in projects that must be implemented for residents and Dobong’s future to recover the struggling livelihood economy and enhance Dobong’s urban competitiveness.”
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