Yeongdeungpo-gu Forms 2nd Supplementary Budget of 52.2 Billion Won Focused on Livelihood Economy and Safety

[Asia Economy Reporter Park Jong-il] Yeongdeungpo-gu (District Mayor Chae Hyun-il) has prepared the 2nd supplementary budget to revitalize the local economy and address employment instability caused by the prolonged COVID-19 pandemic.

The supplementary budget totals 850.8 billion KRW, an increase of 52.2 billion KRW compared to the 1st supplementary budget. It focuses on restoring the livelihood economy affected by COVID-19, strengthening residents' safety against infectious diseases and disasters, expanding and improving living SOC facilities, and enhancing residents' convenience and livelihood stability.

First, 7.9 billion KRW has been allocated for the Vulnerable Group Hope Job Project to support vulnerable groups facing livelihood crises such as employment instability due to the prolonged COVID-19 situation. Additionally, 5.7 billion KRW is designated for emergency disaster relief funds to stimulate weakened consumer sentiment and revitalize depressed local markets, and 200 million KRW for discount compensation related to the additional issuance of 10 billion KRW worth of Yeongdeungpo Love Gift Certificates, aiming to recover the livelihood economy that has been depressed and contracted by COVID-19.

Moreover, the district will invest 1.9 billion KRW to strengthen the local safety net and create a safe living environment. Of this, 1.4 billion KRW will be used to purchase quarantine supplies and operate screening clinics to prevent the spread of COVID-19 in the community. The remaining 500 million KRW will be spent on ▲living safety insurance to cover damages from disaster safety accidents ▲distribution of LED security lights to ensure nighttime pedestrian safety ▲installation of odor reduction facilities in community-use facilities.

In addition, the district will support living SOC projects such as libraries and sports facilities that promote residents' leisure and cultural life. 7.1 billion KRW is allocated for the construction of the Singil Cultural and Sports Library, 700 million KRW for the construction of welfare facilities such as the Singil 12 District Social Welfare Complex and Singil 6-dong Public Cultural Complex Center, as well as outdoor sports facilities like the Anyangcheon artificial turf field, and 300 million KRW for maintenance of social welfare facility infrastructure.

Furthermore, 26.4 billion KRW is allocated for legally mandated essential expenses such as childcare fees, operation of childcare facilities, national and city subsidies, and subsidy refunds.

This supplementary budget will be finalized after review by the district council on the 22nd and 23rd and approval at the plenary session on the 25th.

Chae Hyun-il, Mayor of Yeongdeungpo-gu, stated, “This supplementary budget carefully reflects projects prioritized for restoring the livelihood economy from COVID-19, strengthening residents' safety, and promoting living SOC projects. We will also accelerate proactive policies to prepare for the post-COVID era.”

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