Yeongdeungpo-gu Allocates 708.1 Billion Won Budget for Next Year... Focus on Strengthening Social Safety Net

483 Billion Increase Compared to 2020... Focused Investment on Regional Economic Recovery and Social Safety Net Construction... 42.4 Billion Allocated to Resolve 3 Major Daily Inconveniences: Cleaning, Walking, Parking, and to Propel Seonamgwon as an Economic Hub

[Asia Economy Reporter Jong-il Park] Yeongdeungpo-gu (Mayor Chae Hyun-il) has prepared the 2021 revenue and expenditure budget proposal and submitted it to the district council to create a people-centered, livable city in preparation for the post-COVID-19 era.

The 2021 budget proposal amounts to a total of 708.1 billion KRW, an increase of 48.3 billion KRW (7.3%) compared to the previous year, focusing on enabling residents to enjoy diverse cultural activities in a safe and pleasant environment and establishing a healthy and solid economic foundation.

In particular, the 2021 budget proposal is focused on revitalizing the local economy, which has been stagnated due to the prolonged COVID-19 pandemic, by concentrating on employment support for vulnerable groups and stabilizing the management of small business owners. It plans to invest heavily in strengthening a safety net that residents of all ages?children, adolescents, and seniors?can feel secure living under.

Accordingly, the district allocated 4.1 billion KRW for providing direct jobs and employment service support for groups having difficulty finding employment such as the elderly and disabled; 5.3 billion KRW for supporting the Small and Medium Enterprise Development Fund and issuing local love gift certificates to stabilize management and stimulate consumption for self-employed and small business owners; and 179.8 billion KRW for customized welfare services to stabilize the lives of vulnerable groups including basic livelihood security recipients, disabled persons, and seniors.

Additionally, 2.8 billion KRW was allocated for projects strengthening pedestrian safety around schools to create safe commuting routes for children and adolescents, and 3.1 billion KRW was set aside to expand care facilities such as youth autonomous cultural spaces and Kiwoom Centers, contributing to creating an educational environment where future generations can safely nurture their dreams.

Furthermore, 4.9 billion KRW will be invested to respond to future climate change and environmental crises and to create a green-friendly city, also focusing on improving living infrastructure.

Moreover, to enable all residents to freely enjoy cultural and leisure activities anytime and anywhere, the district will continue to promote the construction of living SOC (Social Overhead Capital) projects such as libraries and sports facilities.

For this purpose, 9.2 billion KRW was allocated to expand library and cultural service spaces, including the construction of the Singil Complex Cultural Sports Library and the establishment of village libraries; and 7.2 billion KRW was set aside for expanding cultural and sports facilities such as the Daerim 3 Yusuji Comprehensive Sports Facility and the Yangpyeong-dong Public Complex Sports Facility.

In addition, 0.5 billion KRW was allocated for urban regeneration and alleyway revitalization projects around the Yeongdeungpo Gyeongin-ro area; 1.6 billion KRW for establishing strategies and execution plans for sustainable urban development; and 0.4 billion KRW to strengthen competitiveness in regional specialized projects such as the International Finance and Smart Medical Special Zones. Yeongdeungpo-gu plans to focus on laying the groundwork for a leap forward as the economic center of the southwest region.

The 2021 budget proposal will be finalized after review by the Yeongdeungpo District Council over 10 days from December 8 to 22 and approval at the plenary session on December 23.

Chae Hyun-il, Mayor of Yeongdeungpo-gu, stated, “The 2021 budget proposal was prepared with a focus on overcoming the COVID-19 crisis, stabilizing people’s livelihoods, revitalizing the local economy, and establishing cultural and sports infrastructure. We will do our best to allocate the budget appropriately and execute projects swiftly and transparently to practically contribute to improving the quality of life for our residents.”

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