Suwon City Confirms First Supplementary Budget of 352 Billion KRW

The city of Suwon in Gyeonggi Province has finalized an additional supplementary budget proposal for this year amounting to 352 billion KRW.

On the 27th, Suwon City announced that the Suwon City Council had amended and approved the '2024 First Supplementary Budget Proposal' on the 25th.

Previously, Suwon City submitted the first supplementary budget proposal totaling 3.4261 trillion KRW, which is an increase of 352 billion KRW (11.45%) compared to the original budget of 3.0741 trillion KRW.

Accordingly, the City Council amended the budget by reducing 746 million KRW from 27 projects in the expenditure budget and increasing 714 million KRW for 8 projects.

Key projects in this supplementary budget include ▲48 billion KRW for incentives for general issuance of local currency ▲460 million KRW for special guarantees for small business owners ▲28.1 billion KRW for parental allowances ▲2.2 billion KRW for feasibility study and design of the new Goun Station on the Shinbundang Line ▲9.4 billion KRW for the metropolitan cooperative-type semi-public bus route system ▲5.5 billion KRW for the introduction of low-floor buses ▲4 billion KRW for the construction of public parking lots ▲1.56 billion KRW for building an indoor badminton court in Ilwol Park ▲7.5 billion KRW for the creation of small parks, among others.

Lee Jae-jun, Mayor of Suwon, stated, "This supplementary budget is aimed at revitalizing Suwon's economy and stabilizing the livelihood of its citizens," adding, "I am grateful to the City Council for their careful deliberation and approval of the budget closely related to citizens' lives despite difficult financial conditions."