Geumcheon-gu Supports SME Employees with 400,000 Won Each in Seoul Love Gift Certificates... 25.3 Billion Won Allocated in 2nd Supplementary Budget for COVID-19 Response and More

Budget of 17.5 billion KRW allocated for local economic revitalization including quarantine support and small business aid... 3.3 billion KRW allocated from disaster management fund for enhanced quarantine management... 3.3 billion KRW reflected in fiscal stabilization fund to prepare for post-COVID fiscal demands

[Asia Economy Reporter Park Jong-il] Geumcheon-gu (Mayor Yu Seong-hoon) submitted the second supplementary budget proposal totaling 25.3 billion KRW to the district council on the 19th, following the first supplementary budget of 27 billion KRW in response to the prolonged COVID-19 pandemic.

This supplementary budget was prepared by mobilizing all available resources through expenditure restructuring in addition to the net surplus, focusing on revitalizing the stagnant local economy by supporting small business owners and self-employed individuals, preventing the spread of COVID-19, and addressing district pending projects.

The district will invest 17.5 billion KRW to support COVID-19 response and quarantine activities, as well as to revitalize the local economy by supporting small business owners.

Additionally, in cooperation with the Seoul Business Agency, the district will implement the "Small and Medium Enterprises Seoul Love Employment Happiness Support Project," providing Seoul Love Gift Certificates worth 400,000 KRW per person to employees of local SMEs.

33 billion KRW is allocated from the disaster management fund to strengthen infectious disease quarantine, support quarantine kits for vulnerable health groups, and 1.8 billion KRW is budgeted as business maintenance support funds for approximately 2,600 newly established small business owners who had been in blind spots of COVID-19 support.

Through this supplementary budget, the district plans to provide the largest number of public jobs ever to support the livelihoods of vulnerable groups and promote local economic revitalization. An additional 700 million KRW will be invested in the COVID-19 Overcome Hope Job Project, totaling 8.2 billion KRW to provide public jobs to about 1,800 vulnerable people struggling due to the prolonged pandemic.

Furthermore, 13.3 billion KRW will be reserved in the financial stabilization fund to prepare for fiscal demands in the post-COVID-19 era.

The district also plans to prepare for the post-COVID-19 era by expanding non-face-to-face services such as installing additional 24-hour smart civil service issuance counters, supporting non-face-to-face delivery services for traditional markets, and introducing electronic entry logs at community service centers.

In addition, as a catalyst project to complete the achievements of the 7th elected term, the district announced that 7.5 billion KRW will be allocated for creating living SOC such as park redevelopment and sports facility installation, along with 8.5 billion KRW from subsidy returns.

The second supplementary budget proposal submitted by the district is scheduled to be finalized after deliberation and resolution at the Geumcheon-gu Council’s extraordinary session on the 26th.

Mayor Yu Seong-hoon of Geumcheon-gu stated, “This supplementary budget was designed to maximize the budget to revive the livelihood economy, which is in crisis due to the prolonged COVID-19 pandemic, through bold expenditure restructuring,” and added, “We will continue to focus district budget investments to recover the local economy and stabilize residents’ lives.”

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