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Gangdong-gu Confirms Supplementary Budget of 50.2 billion Focusing on Public Welfare Amid COVID-19

21-05-2021

Gangdong-gu Confirms Supplementary Budget of 50.2 billion Focusing on Public Welfare Amid COVID-19

- Prepared with focus on improvement of public welfare such as subsidies for SMEs and small business owners, disaster relief funds issued by the Si and Gu

- Total budget increased to KRW 873.2 billion (6.1% increase from KRW 50.2 billion) compared to original budge plan suggested early this year



On the 18th, Gangdong-gu Office (Mayor Lee Jung-hun) confirmed the 1st revised supplementary budget proposal for the 2021 fiscal year, which has a focus on overcoming the difficulties posed by the COVID-19, at the district council.


  The confirmed revised supplementary budget is KRW 873.2 billion, a 6.1% increase from from the original budge plan of KRW 50.2 billion suggested early this year The main content of the revision is revitalization of the local economy affected by COVID-19, safety measures to protect the lives and properties of the district's residents, and revision of the national subsidy program that was revised after the establishment of the original budget plan.


  Major programs include ▲ a SME development fund worth KRW 3 billion to support small- and medium-sized business owners suffering from financial difficulties due to the COVID-19 pandemic, ▲ Si-Gu cooperative disaster relief fund of KRW 2 billion in the form of allowances for the unemployed youth and closed businesses, ▲ KRW 1.2 billion for local job creation projects such as public jobs, ▲ subsidies totaling KRW 1.2 billion for schools and Happy Schools for the construction of a sustainable education environment, ▲ subsidies of KRW 2.6 billion for infant care services, ▲KRW 3.8 billion for activity services for the disabled, ▲KRW 2.4 billion for the construction of an environmentally-friendly smart energy city using solar energy and fuel cells, and ▲KRW1.1 for the improvement of the sewage system to prevent flood damage.


  Lee Jung-hun, Mayor of Gangdong-gu, revealed, “We established a supplementary budget in order to maximize the use of available resources to quickly resolve pending issues such as the COVID-19 pandemic. We are going to put the utmost care into disinfection and quarantine activities to ensure the safety of our residents, accelerate the execution of the budget to revitalize the stagnating local economy, and make the effects of our policies visible in day-to-day life.”