Suncheon-si Prepares Supplementary Budget of 50.1 Billion Won Including COVID-19 Related Expenses

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Suncheon City, Jeollanam-do announced on the 19th that it has prepared the first supplementary budget for 2020 amounting to 50.1 billion KRW and submitted it to the city council to respond to COVID-19 and revitalize the depressed local economy.

This supplementary budget was prepared faster than last year due to the significant contraction of the local real economy caused by COVID-19, increasing by 50.1 billion KRW compared to the original budget to a total of 1.3057 trillion KRW, of which the general account is 1.1363 trillion KRW and the special account is 169.4 billion KRW.

The city focused on revitalizing the local economy, considering the urgency of the matter, including measures to prevent the local spread of COVID-19 and emergency livelihood stabilization.

In particular, emphasis was placed on fostering a future industrial economy based on ecological resources and education, such as the completion of Job World, the opening of the Wood Culture Experience Center, the operation of the 4th Industrial Revolution Expo, and the e-sports promotion project.

The COVID-19 related budget includes 2.5 billion KRW for the ‘Suncheon-type Emergency Living Safety Support Fund’ to support households facing economic crises such as temporary closure, business suspension, and unemployment due to the current situation, and an additional 3 billion KRW in contingency funds for government supplementary budget responses and local spread prevention measures.

For local economic revitalization, budgets were prepared and submitted to support the ‘Night Market Creation (1.9 billion KRW)’ for stay-type tourism, the ‘Suncheon-type Youth MacGyver Settlement Project (320 million KRW)’ to settle young people in the region, issuance support for Suncheon Love Gift Certificates (500 million KRW) to boost local consumption, and financial support for small business owners (100 million KRW).

Additionally, to support safe food for children, 1 billion KRW was increased to provide 100% eco-friendly ingredients to daycare centers and private kindergartens, and for population increase policies, 340 million KRW was added for purchasing goods for new residents and university students moving into the area, as well as 90 million KRW for housing support for newlyweds and multi-child families.

Furthermore, budgets were allocated for the Suncheonbu Eupseong Historical and Cultural Tourism Resource Project (2.4 billion KRW) scheduled for completion in 2020, land acquisition costs for the Jeongyujaeran Battle Site (1.9 billion KRW), the Garden Tree Auction Market Project (2.1 billion KRW), and 7 billion KRW for long-term unexecuted urban planning facilities to preserve parks and green corridors that form the foundation of the ecological city. Also included is 2.9 billion KRW for the Waon Port Fishing Village New Deal 300 Project, selected by the Ministry of Oceans and Fisheries’ 2020 Fishing Village New Deal 300 contest.

The first supplementary budget for 2020 submitted by Suncheon City is scheduled to be reviewed at the 239th extraordinary session of the Suncheon City Council to be held on the 20th.

This content was produced with the assistance of AI translation services.