Daejeon City Increases 2nd Supplementary Budget by 89.2 Billion KRW for COVID-19 Response

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 17th that it has recently submitted a supplementary budget of 5.709 trillion won to the Daejeon City Council.

This supplementary budget is the second one following the first supplementary budget (238.5 billion won) in March, focused on early overcoming of the novel coronavirus infection (COVID-19), with emphasis on discovering and supporting additional blind spots of COVID-19 damage, job creation, and regional economic recovery.

To secure supplementary budget resources, the city plans to raise about 35 billion won through restructuring such as unexecuted projects within the year, reduction of event expenses canceled due to COVID-19, and mandatory cuts in travel and private subsidy projects, and use these funds as resources to respond to the COVID-19 crisis by maintaining employment and revitalizing the contracted regional economy.

The supplementary budget proposal is expected to be finalized on the 19th of next month after approval by the Daejeon City Council.

Kim Joo-i, Director of the Planning and Coordination Office of the city, said, “The city has invested more than 300 billion won so far to overcome the COVID-19 emergency situation, so the financial situation is not abundant,” but added, “However, we will strive to secure supplementary budget resources through drastic expenditure restructuring and enhance citizens’ perception through prompt execution.”

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