Ulsan City Allocates 58.4 Billion Won for 'COVID-19 Recovery Supplementary Budget'

Economic Crisis Overcome with Job Budget of 52.7 Billion Won... Expecting Creation of 6,886 Jobs

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City has urgently prepared an additional supplementary budget of 58.4 billion KRW this year to revive the local economy, which has been depressed due to COVID-19.

On the 24th, Ulsan City announced that it has prepared the "2020 3rd Supplementary Budget" to respond to the government's 3rd supplementary budget and to promote major pending projects.

This supplementary budget will be used for job projects to recover the local economy depressed by COVID-19, promotion of local consumption, COVID-19 response, and fostering future new growth industries.

The scale of the supplementary budget is 69 billion KRW in the general account and a total of 58.4 billion KRW including special accounts. The main sources of the supplementary budget are 4 billion KRW from non-tax revenue, 46.5 billion KRW from national subsidies, and 13.6 billion KRW from funds.

Additionally, 10.9 billion KRW raised through expenditure restructuring such as adjusting the timing of events and festival expenses and major policy projects due to COVID-19, and 12.3 billion KRW from contingency funds were actively utilized in this supplementary budget preparation.

Looking at the major detailed projects, in response to the government's 3rd supplementary budget, there are 27.5 billion KRW for the Hope Job Project, 2.5 billion KRW for childcare staff wage support, 1.8 billion KRW for public art projects, 1.8 billion KRW for emergency welfare to stabilize citizens' lives and promote local consumption, 3.3 billion KRW for issuing Ulsan Love Gift Certificates, and 5.1 billion KRW for the public building green remodeling project, which is part of the Korean New Deal.

To strengthen the infectious disease response system, 1.5 billion KRW was allocated for expanding negative pressure rooms in nationally designated inpatient treatment beds, 600 million KRW for genome analysis projects to overcome and prevent infectious diseases among Ulsan citizens, 150 million KRW for operating a screening clinic at the KTX station, and 110 million KRW for supporting COVID-19 isolation inpatient treatment costs.

For creating a future new growth industry ecosystem, 1.8 billion KRW was allocated to support the industry conversion of shipbuilding and marine parts companies and the demonstration commercialization of smart marine buoy manufacturing, 1.6 billion KRW for building a comprehensive safety test center for future vehicles and developing high-safety parts, 1.5 billion KRW for developing a 5G-based smart communication platform and convergence services for shipbuilding and marine, 1.2 billion KRW for establishing an electric vehicle used battery recycling industry base, and 2.2 billion KRW for building the Together hydrogen charging station, accelerating preparations for the post-COVID era.

To promote major pending projects, 1.5 billion KRW was allocated for maintenance of traffic safety facilities, 620 million KRW for installing unmanned traffic enforcement equipment and traffic signals to prevent children's traffic accidents and enforce the Minsik Act, 340 million KRW for feasibility study on installing sluice gates at Sayun Dam's waterway, 3.3 billion KRW to support the construction of the Buk-gu Lifelong Learning Center, and 500 million KRW for road expansion from Chunhae University to Seojung Village.

An official from Ulsan City said, "Among the 3rd supplementary budget, 52.7 billion KRW was focused on job projects to overcome the economic crisis, and it is expected to create employment for 6,886 people."

Ulsan Mayor Song Cheol-ho stated, "I hope this 3rd supplementary budget will revitalize the local economy, lead to consumption promotion and job creation, and stabilize citizens' lives."

The 3rd supplementary budget proposal was submitted to the city council on the 21st and is scheduled to be finalized on September 8 after deliberation during the 216th Ulsan City Council extraordinary session.

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