Daejeon City’s Budget for Next Year ‘6.6 Trillion Won’... Focus on Regional Economic Recovery and Promised Projects

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The city of Daejeon has prepared a budget of 6.6 trillion won for next year. The budget focuses on regional economic recovery and the implementation of promised projects during the 7th elected administration.

According to the city on the 12th, the city submitted a budget proposal of 6.6201 trillion won for next year to the Daejeon City Council on the previous day. While the budget proposal for next year increased by 350 billion won in the general and special accounts compared to this year, the overall budget decreased by 463.1 billion won due to reductions such as the long-term unexecuted park acquisition fund.

The city expects uncertainties to increase next year due to a domestic economic downturn, forecasting decreases in local income tax, resident tax, and leisure tax, while acquisition tax and automobile tax are expected to increase slightly.

The budget proposal for next year is concentrated on regional economic recovery and promised projects with citizens. First, the city plans to invest 132.3 billion won in issuing Jiyeo Sarang gift certificates (local currency) to promote consumption within the region. Additionally, 10.5 billion won is allocated for modernization of traditional market shopping districts and parking environment improvements, and 7.6 billion won for small business management improvements.

For promised projects with citizens, 10 billion won is allocated as design costs for the Baseball Dream Park construction project, 15 billion won for the construction of the Urban Railway Line 2 tram, and 6.5 billion won for the establishment of the 2nd municipal library.

Among the core projects of the 7th elected administration, the resident participation budget is also expanded from 10 billion won this year to 15 billion won next year. The city explained that support for creating a village community ecosystem will be strengthened by investing 4.3 billion won in communication and cooperation spaces by regional hubs to enhance resident autonomy, and 500 million won in the Daejeon-style Good Village Making contest project.

Furthermore, the city plans to invest heavily in the full-scale promotion of the Daejeon-style New Deal projects. First, 33.2 billion won is scheduled to be invested in urban regeneration New Deal projects, 10.9 billion won in the Daejeon Station area redevelopment promotion project, and 5 billion won allocated to the balanced development fund.

Next year, budgets are also allocated for the construction of school multipurpose gymnasiums (6.5 billion won), free school meal support (45.1 billion won), city bus financial support (75 billion won), road construction from Oesam to Yuseong Complex Terminal (18 billion won), and the construction of the Daejeon International Convention Center (53.9 billion won).

Yu Deuk-won, Director of the Planning and Coordination Office of the city, said, “Although the city’s financial conditions are not favorable due to the prolonged COVID-19 pandemic, the city has prepared next year’s budget prioritizing rapid and effective regional economic recovery, job creation, and stabilization of citizens’ livelihoods to promote each project.”

He added, “The city will focus on securing practical driving forces for the implementation of citizen-promised projects such as Urban Railway Line 2 and Baseball Dream Park, as well as Daejeon-style New Deal projects, and on strengthening the foundation of resident autonomy to ensure resources are invested appropriately.”

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