Siheung Submits Supplementary Budget Increased by 396 Billion Won, Totaling 2.4052 Trillion Won

Increased Budget for Supporting Vulnerable Groups, Expanding Infrastructure, and Revitalizing the Local Economy
Mayor Lim Byeongtaek: "Focusing on Livelihood Recovery in Line with Government Policy Direction"

On July 8, the city of Siheung, Gyeonggi Province, announced that it had submitted its second supplementary budget proposal for the year to the city council on July 7. The total amount of the proposal is 2.4052 trillion won.

This supplementary budget is 396 billion won larger than the first supplementary budget, which was 2.0093 trillion won. The city explained that the increase is due to its focus on allocating various funds to protect citizens' daily lives, in line with the central government's policy direction of revitalizing the local economy and supporting the recovery of livelihoods.

In this supplementary budget, the general account, which makes up 80% of the total budget, was set at 1.9341 trillion won, an increase of 271.3 billion won compared to the first supplementary budget. By revenue source, the increases are as follows: local taxes by 2.9 billion won, non-tax revenues by 45.2 billion won, national and provincial subsidies by 89.1 billion won, and compensatory income and internal transactions by 141.7 billion won.

By sector, the increased budget allocations are as follows: 40.9 billion won for metropolitan infrastructure development, 4.5 billion won for ensuring citizen safety, 16.8 billion won for recovery of the local economy, 19 billion won for carbon neutrality and environmental conservation, 1.3 billion won for future education support, 46 billion won for supporting vulnerable groups, 30.7 billion won for veterans and senior citizens, 11 billion won for support for youth, adolescents, multicultural families, and school meals, 5.7 billion won for support for children and women, 2.7 billion won for culture, sports, and tourism, 3.6 billion won for health and medical support, and 200 million won for agriculture, livestock, and fisheries.

In particular, this supplementary budget includes funding for the "Basic Transportation Allowance for Seniors" program, which is scheduled to be implemented early next year, as well as additional funds for the establishment of a public postpartum care center in Siheung.

To support small and medium-sized enterprises and small business owners, the city has significantly expanded the budgets for the "SME Development Fund Support" and the "Special Guarantee for Small Business Owners." In addition, the budget includes funds for issuing local gift certificates to revitalize the local economy in line with central government policy, as well as for operating special discount events (Sirupangpang Day).

For balanced development among regions, the city has allocated funds for the Mokgam Community Center-2 and the Jeongwang Senior Welfare Center, both scheduled for completion within the year. The city will also promote projects to improve the natural landscape, such as the Yangdalcheon Improvement Project and the Turtle Island Landmark Project.

This budget proposal will be finalized if it is approved at the city council's plenary session on July 25.

Siheung Mayor Lim Byeongtaek stated, "Under the goal of alleviating internal and external uncertainties and restoring livelihoods, we will further strengthen the administration of city affairs to improve citizens' quality of life in line with the central government's policy direction."