Gangdong-gu Confirms 2024 Budget of 1.0323 Trillion Won

520 Billion KRW Increase Compared to This Year (5.3%↑)... Most from Subsidies, Local Tax Revenue Significantly Decreased...
Full Effort for Large-Scale Construction Projects, Regional Development, Social Welfare, Culture, and Resident Welfare Enhancement

Lee Su-hee, Mayor of Gangdong District

Kangdong-gu (District Mayor Lee Soo-hee) announced on the 27th that the 2024 budget has been finalized at 1.0323 trillion KRW.

The total budget for next year (1.0323 trillion KRW) has increased by 52 billion KRW compared to this year's 980.3 billion KRW, showing growth in scale. However, most of the increase comes from government and Seoul city subsidies, while local tax revenues such as property tax have significantly decreased. Nevertheless, the district plans to fully strengthen its financial role by including all major policy issues aimed at regional development, recovery of the local economy, and improvement of residents' welfare.

First, a total of 27.2 billion KRW will be invested in large-scale construction projects. For 2024, the budget includes ▲64 billion KRW for the completion of the 2nd Community Sports Center ▲5 billion KRW for the construction of Kangdong Forest Library ▲250 million KRW for the construction of the District-run Welfare Center for the Disabled ▲3.3 billion KRW for the swimming pool creation as part of the Cheonho 1 Urban Environment Improvement Project ▲5.1 billion KRW for the complex development of the Community Hall ▲3.5 billion KRW for the Myeongil 1-dong Kangdong Advanced Complex Development ▲3.6 billion KRW for the construction of the Resource Circulation Center. These expansions of living SOC (Social Overhead Capital) facilities aim to strengthen urban competitiveness.

Additionally, 20.8 billion KRW will be allocated to regional development and balanced growth budgets. Key projects include ▲3.8 billion KRW for the Kangdong Grand Design to reorganize the district’s mid- to long-term urban planning to make Kangdong-gu itself a brand, ▲180 million KRW for the Cheonho A-1 Public Support Association Formation Support Service ▲60 million KRW for the redevelopment maintenance plan service for the Cheonho-dong 217-19 area ▲200 million KRW for the reorganization service of the district unit plans around Kangdong-gu Office and Seongnae area ▲100 million KRW for partial reorganization of the Godeok Housing District Unit Plan. These will continuously promote necessary urban maintenance projects by district.

Furthermore, diverse ecological environments reflecting local residents’ demands will be created. Representative projects include ▲2.7 billion KRW for the creation of children’s parks by region ▲200 million KRW for the creation of barefoot walking paths in the forest ▲330 million KRW for water play facilities in parks ▲500 million KRW for the creation of a community-oriented forest (garden) at Kangdong Art Center.

To revitalize streets according to local characteristics, the budget includes ▲700 million KRW for the Cheonho Bicycle Street Specialization Project ▲200 million KRW for the creation of a retro hot place in Cheonho-dong Rodeo Street ▲100 million KRW for landscape improvement of side streets around Amsa-dong Market ▲500 million KRW for the creation of Naedeutdae-ro Academy Street in Kangdong ▲900 million KRW for the improvement of the flat intersection in front of Hansan Elementary School.

In 2024, amid expectations of continued low growth due to international instability and global economic slowdown, the social welfare budget has been increased by 69.6 billion KRW from last year to 610.8 billion KRW to alleviate difficulties in the working-class economy and enhance residents’ welfare perception.

Major budget items include ▲157.6 billion KRW for basic pensions ▲110.8 billion KRW for livelihood and housing benefits ▲40.8 billion KRW for parental benefits (infant allowance) ▲32.6 billion KRW for infant care fee support ▲25.9 billion KRW for child allowance support projects ▲39.4 billion KRW for disability activity support.

As a representative welfare project of the district, to honor national veterans who sacrificed and dedicated themselves to the country, the veterans’ allowance has been increased by 20,000 KRW per month compared to last year, with ▲4.9 billion KRW allocated for national merit support. Additionally, 300 million KRW has been allocated for the Kangdong-type teacher-to-child ratio improvement project, which reduces the number of children per daycare teacher below the legal standard, and 500 million KRW for the Kangdong-gu public meal support project, which supplements the standard unit price to improve the quality of public meals in daycare centers.

For the safety of elderly living alone, 30 million KRW has been allocated for the installation of emergency bells that monitor their safety in real time, and 300 million KRW for operating the Kangdong-gu Dementia Family Support Center to reduce caregiving burdens on families of dementia patients.

The culture and sports budget is set at 49.1 billion KRW to advance Kangdong-gu as a refined cultural city. Major projects include ▲250 million KRW for a special exhibition at the Amsa-dong Prehistoric Site Museum, which will be linked with the Gongju Seokjang-ri site ▲800 million KRW for the green remodeling project of Amsa Library ▲10.2 billion KRW for the Kangdong Cultural Foundation contribution, increased by 600 million KRW from last year, to provide high-quality performances and exhibitions for residents.

Additionally, a total of 33.4 billion KRW has been allocated for safety and health-related budgets to ensure residents’ safety and healthy lives.

Key projects include 3.6 billion KRW for flood prevention including sewage system construction, 4.4 billion KRW for disaster management, and 25.4 billion KRW for health care.

Lee Soo-hee, Mayor of Kangdong-gu, stated, “Despite difficult financial conditions, we will carefully attend to people’s livelihoods and faithfully implement fiscal soundness. Through this, we will do our best to make Kangdong-gu a city where everyone wants to live and where living itself is a source of pride.”