Yongin City Submits 150.5 Billion KRW Supplementary Budget Proposal to City Council... 4.52% Increase

Mayor Lee Sang-il: "Focusing on Expanding Public Buildings and Transportation Networks"

Yongin City in Gyeonggi Province has prepared an additional supplementary budget of over 150 billion KRW.

On the 31st, Yongin City announced that it submitted the '1st Supplementary Budget Proposal' totaling 3.4823 trillion KRW to the city council. This is an increase of 150.5 billion KRW (4.52%) compared to this year's original budget of 3.3318 trillion KRW.

The supplementary budget consists of a general account increased by 132.5 billion KRW to 3.0647 trillion KRW and a special account increased by 18 billion KRW to 417.6 billion KRW. The city explained that this supplementary budget focuses on the construction of public buildings and the establishment of regional transportation networks.

Public building construction projects include ▲ new construction of Dongbaek 1-dong Administrative Welfare Center (2 billion KRW) ▲ construction of Dongbaek Comprehensive Welfare Center (7.5 billion KRW) ▲ construction of Bojeong Comprehensive Welfare Center (9.1 billion KRW) ▲ construction of Sinbong-dong Library (1.7 billion KRW) ▲ relocation and construction of Yongin City Football Center (8 billion KRW).

In the transportation sector, the budget includes ▲ opening of Yongin Urban Planning Road Jung 1-164 (25.4 billion KRW) ▲ expansion and paving of Boge Won Sam Road (1 billion KRW) ▲ opening of Yongin Urban Planning Road Jung 1-45 (1.5 billion KRW).

Major projects funded by national and provincial subsidies include ▲ transfer funds for Ecotown Development Project (8.04 billion KRW) ▲ hydrogen electric vehicle distribution project (2.1 billion KRW) ▲ support for demolition costs of agricultural facilities damaged by heavy snow (2.91 billion KRW) ▲ support for closure and career change of dog breeding farms (2.8 billion KRW) ▲ small-scale dredging of local rivers (2.2 billion KRW) ▲ creation of public parking lot at Dongcheon Sports Park (2 billion KRW) ▲ improvement of child protection zones (2.17 billion KRW) ▲ installation of heavy snow prevention facilities on pedestrian overpasses (2.16 billion KRW) ▲ installation of vehicle blocking facilities in underpasses (1 billion KRW), among others.

The main revenue sources for the general account include 54.1 billion KRW from non-tax income, 25.1 billion KRW from local allocation tax, 19 billion KRW from special adjustment grants, 26.1 billion KRW from national and provincial subsidies, and 8.2 billion KRW from compensation income. The supplementary budget proposal is scheduled to be finalized at the city council's extraordinary session starting on the 9th of next month.

Mayor Lee Sang-il of Yongin City stated, "With a metropolitan city of 1.5 million people in mind, we prepared the supplementary budget focusing on public buildings and regional transportation networks to improve the living conditions of citizens. We will do our best to ensure that citizens can enjoy a better living environment and administrative services."