Jeonju City Allocates Additional 54.3 Billion Won Budget to Overcome COVID-19 Crisis

City submits third supplementary budget proposal worth 54.3 billion KRW to Jeonju City Council to overcome COVID-19
Focused on digital and green new deal projects and livelihood economy stabilization, final approval set for the 26th after temporary ses

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Tae-in] Jeonju City has decided to additionally allocate a total budget of 54.3 billion KRW to overcome the crisis caused by the prolonged COVID-19 pandemic and improve the quality of life.

On the 8th, the city announced that it has prepared the 3rd supplementary budget plan totaling 54.3 billion KRW to respond to the government's Korean New Deal project and revitalize the stagnant livelihood economy due to the impact of COVID-19, and requested deliberation from the Jeonju City Council. If approved, Jeonju City's total budget for this year will increase to 2.313 trillion KRW.

In this supplementary budget, the city allocated funds for digital and green New Deal projects to overcome the economic crisis, including △Hope Work Support 20.1 billion KRW △Jeonju Love Gift Certificate Operation 1.96 billion KRW △Public Building Green Remodeling 3.16 billion KRW △Electric Vehicle Purchase Support 1.88 billion KRW, among others.

Additionally, to stabilize the livelihood economy affected by the prolonged COVID-19 pandemic and strengthen the quarantine system, the city allocated △Small Business Card Fee Support 1.3 billion KRW △Tourism Product Development and Tourism Business Support 1.3 billion KRW △Charter Bus Operator Support 250 million KRW △Respiratory Clinic Installation and Operation 300 million KRW △National Vaccination Implementation 1.4 billion KRW △Purchase of Thermal Imaging Cameras for Community Centers 100 million KRW, among others.

For essential ongoing projects, the budget includes △Bus Transportation Business Financial Support 4 billion KRW △Incineration Resource Center Consignment Operation 800 million KRW △Emergency Disaster Recovery and Road Maintenance due to Heavy Rain 1 billion KRW △Comprehensive Plan Establishment for Public Office Buildings 150 million KRW △Carbon Composite Material Reliability Evaluation Infrastructure Construction 2 billion KRW △Composite Material Parts Production and Processing Support Center 1 billion KRW △Small Business Cluster Joint Infrastructure Construction 1.5 billion KRW △Ajungcheon Ecological Stream Restoration Project 2.1 billion KRW △Local River Maintenance Project 2.4 billion KRW, among others.

The required funds were secured through national and provincial subsidies, local taxes, and local bonds to compensate for the reduction in ordinary local allocation tax revenue caused by the decrease in national total revenue. Additionally, 9 billion KRW from adjusted expenditure budgets, including canceled or changed event projects and unspent balances due to COVID-19, were also utilized as project funds.

This supplementary budget plan is scheduled to be finalized after deliberation at the 374th Jeonju City Council extraordinary session, held for 14 days from the 9th to the 22nd.

Choi Hyun-chang, Director of Planning and Coordination Bureau of Jeonju City, said, “Once the budget plan is approved by the council, we will promptly inject funds to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 pandemic, and serve as a catalyst for stabilizing the livelihood economy. Additionally, we plan to accelerate the progress of Jeonju City's ongoing projects.”

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