Budget Reflects Focus on Livelihood Stabilization, Disaster Recovery, and Revitalizing the Local Economy
Mayor Lee: "We Will Drive Change Through Livelihood Recovery and Regional Development"
Osan City in Gyeonggi Province announced on the 18th that the first supplementary budget for this year, amounting to 890.6 billion KRW, has been approved by the Osan City Council.
This supplementary budget represents an increase of 2.37 billion KRW compared to the original budget of 888.3 billion KRW. The city explained that the increased budget was allocated with a focus on stabilizing livelihoods, disaster recovery, and revitalizing the local economy.
In this supplementary budget, the city included support measures for citizens and small business owners facing difficulties, such as ▲emergency heating cost support for vulnerable groups (246 million KRW) and ▲incentives for issuing local love gift certificates (370 million KRW). This was decided following the early sell-out of local currency in January, which indicated the need for additional support.
The budget also includes funds for recovery from damage caused by heavy snowfall last November. It consists of support for farmers’ disaster recovery costs due to heavy snow (137 million KRW) and disaster relief funds for small business owners affected by the heavy snow (98 million KRW).
The budget also reflects projects such as ▲installation of barriers at Doksanseong East Gate parking lot (140 million KRW), ▲creation of a water playground in Busandong (1.5 billion KRW), and ▲creation of a water playground in Cheonghodong (1.3 billion KRW).
Mayor Lee said, "Through this supplementary budget, we have secured resources for the recovery of the livelihood economy and regional development," adding, "We will create changes that citizens can feel and realize Osan City’s core value in the 8th term of the elected government: 'Osan, a city harmonizing education, culture, and economy.'"
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
