Seoul Metropolitan Council Cuts Budget Including Overseas Travel Expenses to Overcome COVID-19 Crisis

Approximately 670 Million Won Budget Savings from Overseas Travel Expenses for Assembly Members through Expenditure Budget Restructuring

[Asia Economy Reporter Park Jong-il] Following the passage of the 2nd supplementary budget bill at the National Assembly on the 29th, the Seoul Metropolitan Council will hold a one-point extraordinary session in May to approve the 2nd supplementary budget for Seoul, deciding to cut approximately 670 million KRW from the budget, including expenses for overseas official trips.

Amid growing economic concerns due to COVID-19, this proposed cut aims to share the burden. The reduced budget of about 670 million KRW includes 575.3 million KRW from overseas official trip expenses and approximately 93 million KRW saved by scaling down some projects. The saved funds will be used for urgent supplementary budgets such as support for small and medium-sized business owners hit hard by COVID-19 and emergency disaster relief payments.

Shin Won-chul, Chairman of the Seoul Metropolitan Council, said, “We are concerned that the economic shock caused by COVID-19 may be stronger and more prolonged than the 2008 financial crisis. It is not yet a stage to be complacent. Complete quarantine and recovery of the collapsed livelihood economy are urgent. We will do our utmost to restore daily life to the citizens.”

He also urged strict adherence to living quarantine guidelines and personal hygiene rules during the relaxed social distancing period until May 5th to prevent the re-spread of COVID-19.

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