Eunpyeong-gu, 2024 Budget Proposal Set at 1.11 Trillion Won

Total Budget Increased but Independent Revenue Decreased by 28 Billion Won... Focused Selection in Three Major Areas
Securing Funds through High-Intensity Adjustments such as Reducing Event and Festival Expenses and Improving Overinvestment

Seoul Eunpyeong-gu (District Mayor Kim Mi-kyung) announced that it has prepared the 2024 budget at a scale of 1.11 trillion KRW and submitted it to the district council on the 17th.

Although the total budget size for 2024 slightly increased compared to 2023, the amount of autonomous revenue that the district can independently use decreased by 5.5% to 28 billion KRW due to the domestic and international economic situation and the downturn in the real estate market.

The district’s budget management policy for next year is “selection and concentration.” Due to the decrease in autonomous revenue, the budget was thoroughly reviewed from the ground up. High-intensity expenditure restructuring was carried out, including reducing event and festival expenses and improving overinvestment.

The event and festival budget was reduced by 24% compared to 2023 to 1.8 billion KRW, and subsidies for private organizations were cut by 22% to 2 billion KRW. Similar events and festivals were integrated, focusing on Eunpyeong-gu’s major representative festivals.

The district prepared the budget focusing on three major investment areas to concentrate on life-oriented projects that meet residents’ demands. The budget allocation for each of the three major investment areas is ▲ “Support for socially vulnerable groups and establishment of disaster safety prevention systems” with 738.4 billion KRW ▲ “Future preparation to secure growth engines and enhancement of urban competitiveness through green infrastructure” with 101.9 billion KRW ▲ “Establishment of cultural tourism belt and realization of lifelong learning city” with 49.3 billion KRW.

For “Support for socially vulnerable groups and disaster safety prevention system,” 738.4 billion KRW was allocated to protect vulnerable groups and safeguard residents’ lives from disaster situations. This accounts for 67% of the total budget, making it the largest sector. The budget includes expanded welfare support amounts such as livelihood and housing benefits, parental benefits, basic pensions, and senior job programs. Newly introduced are services like “Baekse Call,” a hospital accompaniment assistance service linked to senior jobs, and the production and distribution of dementia prevention programs. To prevent major disasters, new projects include installing road facility safety monitoring systems and conducting comprehensive surveys of hazardous facilities. The budget also reflects the management of radioactive substances in seafood business facilities, a recent social issue.

For “Future preparation to secure growth engines and enhancement of urban competitiveness through green infrastructure,” 101.9 billion KRW was allocated. This includes budgets for medium- to long-term urban development such as development projects centered on Yeonsinnae and Bulgwang areas ahead of the GTX-A line opening, basic planning services for the Innovation Park area development, and housing maintenance-type redevelopment projects. Budgets for environmental protection and resource circulation practices in response to the climate crisis, operation of the Aengbongsan family camping site, creation of barrier-free forest trails in Bulgwang Neighborhood Park, establishment of dog parks, maintenance of children’s parks, and refurbishment of Hyangnim Urban Agriculture Experience Center were also included.

For “Establishment of cultural tourism belt and realization of lifelong learning city,” 49.3 billion KRW was allocated. Major contents include establishing a mid- to long-term plan for customized lifelong learning, promoting the “One Dong One University” Eunpyeong University initiative, expanding youth-friendly living sports infrastructure, operating the Comprehensive Sports Town and Eunpyeong Tongillo Sports Center, and full-scale operation of the Eunpyeong Cheongyeoul Swimming Pool.

The 2024 budget proposal is expected to be finalized on December 20 after deliberation at the regular meeting of the Eunpyeong District Council.

Kim Mi-kyung, Mayor of Eunpyeong-gu, said, “Through high-intensity expenditure restructuring, we eliminated wasteful factors and exercised the wisdom of selection and concentration in budget preparation to invest in only the necessary areas. We will prioritize support for socially vulnerable groups and will not hesitate to invest in future preparation to actively respond to the rapidly changing policy environment.”