763 Billion KRW Increase for 1st Supplementary Budget
Goyang-si Focuses Investment on Key Projects for Future Foundation
Goyang Special City, Gyeonggi Province (Mayor Lee Dong-hwan) announced on the 27th that it submitted the 2nd supplementary budget proposal for 2024, amounting to 3.3865 trillion KRW, to the city council on the 26th.
This is an increase of 76.3 billion KRW (2.3%) compared to the 1st supplementary budget (3.3102 trillion KRW). By account type, the general account increased by 70.4 billion KRW (2.6%), and the special account increased by 5.9 billion KRW (1.1%).
Considering the difficult financial situation due to the economic downturn and decreased national tax revenue, the supplementary budget proposal has minimized budget allocations for low-priority projects and boldly adjusted budgets with poor execution.
The secured budget will be focused on essential budget items such as national and provincial subsidies and key projects to strengthen the city's future foundation, including Changneung New Town and Seongsa Innovation District.
By sector, in the industrial field, the budget includes ▲1.6 billion KRW for the Ilsan Market Solidarity Commercial Area Development Support Project ▲1 billion KRW for the Small Business Special Guarantee Fund ▲1.4 billion KRW for the Private Building New Renewable Energy Supply Project.
In regional development, the budget includes ▲14.2 billion KRW for the Hub-type Smart City Development Project ▲1.3 billion KRW for dredging work at Hallyu Stream (Waterfront Park) ▲10 billion KRW in investment funds for Goyang Urban Management Corporation for the Changneung Public Housing District Development Project ▲1 billion KRW for Tanhyeon Neighborhood Park construction costs ▲500 million KRW for Daedeok Ecological Park Pocket Shelter creation.
In the culture and tourism sector, the budget reflects ▲500 million KRW for Baekseok Library remodeling ▲500 million KRW for Gongneungcheon Cultural Sports Park Park Golf Course creation ▲200 million KRW for the Tourism Special Zone Revitalization Contest Project ▲355 million KRW for library book purchases.
In social welfare, the budget includes ▲3 billion KRW for housing benefits (rental benefits) ▲1.4 billion KRW for childcare staff salary support ▲1.18 billion KRW for additional support for 5-year-old children in the Nuri Curriculum ▲1.2 billion KRW for disability activity support benefits ▲950 million KRW for childcare staff treatment improvement support.
In transportation and logistics, the budget includes ▲4.68 billion KRW for K-Pass (public transportation fare refund support) ▲8 billion KRW for road construction between Siksadong and Baekseokdong ▲3.4 billion KRW for city-operated routes under Gyeonggi Province city bus public management system operation support ▲1 billion KRW for village bus financial support.
In health, the budget includes ▲5.87 billion KRW for the Ilsandong-gu Health Center building construction project ▲500 million KRW for interior work at the Mental Health Integrated Support Center ▲500 million KRW for infertility couple treatment support.
A city official stated, "This is a time when selection and concentration are necessary due to the difficult financial situation. Despite limited resources, we are making every effort for the city's future vision, and we expect active cooperation from the city council."
Meanwhile, the 2nd supplementary budget will be reviewed and approved at the 289th Goyang Special City Council extraordinary session, scheduled from October 4 to 17.
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