Mapo-gu Urgently Allocates 27.6 Billion Won for 2nd COVID-19 Supplementary Budget

Rapid Allocation to Respond to Regional Economic Downturn and Various Flood Damages Caused by COVID-19

[Asia Economy Reporter Jong-il Park] Mapo-gu (Mayor Yoo Dong-gyun) has prepared the 2nd supplementary budget proposal for 2020 to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 pandemic, and to prioritize budgets related to safety and environment such as flood prevention, embarking on full-scale efforts to manage daily administration.

The district compiled a supplementary budget of 27.6 billion KRW and submitted it to the Mapo-gu Council. The general account increased by 22.9 billion KRW to 824.1 billion KRW, and the special account increased by about 4.7 billion KRW to 87.9 billion KRW, making the total Mapo-gu budget finalized at 912 billion KRW.

In March, the district also prepared the 1st supplementary budget, allocating about 4 billion KRW for quarantine activities to prevent the spread of COVID-19 and related projects to revive the depressed local economy.

This 2nd supplementary budget proposal plans to focus on revitalizing the local economy by supporting small and medium-sized enterprises (SMEs) and small business owners severely affected by COVID-19, allocating 1 billion KRW as a transfer to the SME development fund, 500 million KRW to expand the issuance of Mapo Love Gift Certificates to boost local consumption, and 161 million KRW for the Mapo-style Youth Employment Internship Project, aiming to expand local jobs and stimulate the economy.

Additionally, the supplementary budget is organized mainly around projects to prevent various disasters such as flood damage and to ensure safety, enabling the district to proactively respond to various disaster prevention measures.

Specifically, 1 billion KRW is allocated for repairing sunken and cracked paved roads caused by heavy rains, 460 million KRW for sidewalk environment improvement projects, about 560 million KRW for flood prevention-related projects such as manhole maintenance, and approximately 40 million KRW for quarantine management to prevent the spread of COVID-19, demonstrating maximum efforts to ensure residents' safety.

Furthermore, to respond to residents' welfare needs, about 9.3 billion KRW is additionally allocated for welfare-related projects. To create a pleasant urban environment, 2 billion KRW is allocated for compensation for losses at Saetteo Neighborhood Park, 1.87 billion KRW for smooth collection and transportation of rapidly increasing recyclables due to COVID-19, and about 1.7 billion KRW as a contribution for the construction of the Eunpyeong Metropolitan Resource Circulation Center, leading efforts to create a clean environment.

Although not abundant, this 2nd supplementary budget proposal, which will be promptly executed for residents, is expected to greatly help revitalize the local economy depressed by COVID-19 and secure safety by preventing various disasters including COVID-19.

Yoo Dong-gyun, Mayor of Mapo-gu, said, “We have implemented the 2nd supplementary budget for 2020 with the hope of providing some help to the struggling local economy, and we will do our best to contribute to economic revitalization through prompt execution.” He added, “Considering the spread of COVID-19, we will prioritize residents' health and safety while striving to create a happy Mapo without neglecting local economic recovery, pleasant environment creation, quarantine, and welfare.”

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