Jangsu-gun, 422.3 Billion Won Supplementary Budget Formulated This Year

[Asia Economy Honam Reporting Headquarters Reporter Go Dallyoung] Jangsu-gun announced on the 12th that it has prepared the 2nd supplementary budget for 2020 amounting to 422.3 billion KRW (380.8 billion KRW in the general account and 41.5 billion KRW in the special account) and submitted it to the Jangsu County Council.

This amount is an increase of 39.6 billion KRW (35.5 billion KRW in the general account and 4.1 billion KRW in the special account) compared to the 1st supplementary budget.

The supplementary budget was mainly prepared to respond to overcoming the damage caused by the coronavirus disease (COVID-19), reflecting ▲66 billion KRW for emergency disaster relief funds for all citizens ▲2.1 billion KRW for special discount compensation for Jangsu Love Gift Certificates ▲500 million KRW to support small business owners and transportation industry workers ▲400 million KRW for local employment response, among others.

To promote resident safety and current projects, the budget includes ▲3.5 billion KRW for the Myeongdeok District river disaster prevention project ▲1.6 billion KRW for the wildfire prevention support center ▲900 million KRW for the purchase of the Gyenam Jungbang pig farm complex ▲2.3 billion KRW for relocating the county library ▲1 billion KRW for establishing the Jang-gye Life Culture Center ▲700 million KRW for the Sagok Village LPG small storage tank project ▲500 million KRW for the pedestrian bridge between Mulbit Amusement Park and Jukrimjeongsa ▲2 billion KRW for sewage system maintenance projects ▲1.9 billion KRW for small-scale water facility improvement projects, among others.

The supplementary budget resources were secured through last year's net surplus, reductions in various event operation expenses and administrative operating costs (domestic and international travel expenses, etc.), and remaining project funds. Some insufficient funds were covered by utilizing 40 billion KRW from the ‘Jangsu-gun Local Finance Stabilization Fund.’

Currently, Jangsu-gun has zero local bonds and plans to operate sound finances without issuing local bonds while expanding the budget to actively respond to COVID-19.

Governor Jang Young-su stated, “This supplementary budget was prepared so that residents economically suffering from COVID-19 can feel the effects practically,” and added, “We will continue to prepare all support measures, including securing national and provincial funds, to ensure residents' safety and revitalize the local economy.”

The 2nd supplementary budget submitted by Jangsu-gun is scheduled to be finalized after deliberation and resolution by the Jangsu County Council from the 18th to the 22nd.

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