Seoul Metropolitan Council Budget Committee Approves 2021 Seoul City Budget of 40.1562 Trillion Won

Seoul City Approves 40.1562 Trillion Won Budget, 108.3 Billion Won Increase from Initial Proposal... Seoul Metropolitan Office of Education Approves 9.7419 Trillion Won Budget

[Asia Economy Reporter Jong-il Park] The Seoul Metropolitan Council’s Budget and Accounts Special Committee (Chairpersons Song Jae-hyeok, Nowon 6) approved the 2021 Seoul Metropolitan Government budget and the 2021 Seoul Metropolitan Office of Education Special Account budget on the 16th.

The Seoul Metropolitan Government’s budget for the next year, finalized by the Seoul Metropolitan Council, is 40.1562 trillion KRW, an increase of 108.3 billion KRW from the originally submitted proposal, while the Seoul Metropolitan Office of Education’s budget is 9.7419 trillion KRW.

The 2021 Seoul Metropolitan Government budget approved on the 16th was finalized in the plenary session after review by the Budget and Accounts Special Committee (December 3?15, 2020), aiming to actively respond to COVID-19 while preparing for the transition to the ‘post-COVID era’ after the pandemic ends.

The major projects in the 2021 Seoul Metropolitan Government budget confirmed by the Seoul Metropolitan Council focus on ① overcoming COVID-19, ② strengthening the livelihood economy, and ③ preparing for the post-COVID era.

▲ For overcoming COVID-19, the budget includes 95.8 billion KRW for stockpiling quarantine supplies, supporting vaccine development, and free vaccinations to establish a ‘constant infectious disease prevention system,’ 13.7 billion KRW to strengthen emergency medical systems, 25.3 billion KRW for enhanced public transportation disinfection, and 19.4 billion KRW for quarantine support at welfare facilities, among others. ▲ To strengthen livelihood and the economy, 2.1576 trillion KRW is allocated for job creation, 81 billion KRW for small business support, 20 billion KRW for expanding public daycare centers, 45.8 billion KRW for establishing and operating neighborhood care centers, and 5.4925 trillion KRW for strengthening the social safety net, totaling 7.7311 trillion KRW.

Additionally, to prepare for the post-COVID era, 560.4 billion KRW is allocated, including 39.1 billion KRW for Seoul-style R&D support and 21.1 billion KRW for operating the Yangjae R&D innovation organization. Support for alleyway shopping districts is set at 2.5 billion KRW, youth cultural and artistic space support projects at 600 million KRW, and support for benevolent landlords at 500 million KRW.

Major increases in the Seoul Metropolitan Government budget

▲ Newly allocated 576 million KRW for the ‘Commercial District Renaissance Project’ to develop local commercial areas ▲ The ‘Traditional Market Facility Modernization Project Support (Transition)’ for improving outdated traditional market facilities was increased by 1.076 billion KRW to a total of 13.638 billion KRW ▲ To ensure citizens’ safety from risks, 1.5 billion KRW was added to 16 CCTV-related projects, including ‘CCTV expansion’ and ‘CCTV storage reinforcement projects’ ▲ To address complaints about fire truck exhaust emissions while maintaining a constant dispatch readiness, the ‘Installation of Exhaust Emission Reduction Devices in Fire Truck Garages’ was increased by 1.427 billion KRW to 2.165 billion KRW ▲ To support the fashion industry struggling due to COVID-19, the ‘Fashion Industry Infrastructure Expansion’ project was increased by 1.2 billion KRW to 3.631 billion KRW ▲ For citizens’ traffic safety, 1 billion KRW was newly allocated for ‘Installation of Automatic Fire Extinguishing Equipment for Immediate Fire Suppression at Hazardous Facilities of the Transportation Corporation’ ▲ To protect citizens from COVID-19, 500 million KRW was newly allocated for the ‘Seoul Village Bus Infectious Disaster Prevention System Construction’ ▲ The ‘Children’s Protection Zone Improvement Project (speed bump maintenance, safety guidance plates, etc.) (Gangseo, Seongbuk, Eunpyeong, Gangbuk, Yongsan)’ was increased by 1 billion KRW ▲ According to national budget notifications, 2.9 billion KRW was added for ‘Public Library Opening Hours Extension’ ▲ Following ordinance amendments, 7 billion KRW was added for ‘Education Expense Assistance’ to the Office of Education ▲ ‘COVID-19 Isolation Hospitalization Treatment Costs’ were increased by 1.74 billion KRW ▲ 700 million KRW was newly allocated for ‘Visiting Nurse Service Support for Daycare Centers.’

Furthermore, the Seoul Metropolitan Council approved the Seoul Metropolitan Office of Education’s budget for next year, confirming a total of 9.7419 trillion KRW, including 20.5 billion KRW as the Office of Education’s share (with the Office of Education, Seoul Metropolitan Government, and autonomous districts contributing in a 5:3:2 ratio) out of the total project cost of 41 billion KRW to provide 300,000 KRW entrance preparation funds to all 137,000 new middle and high school students.

Song Jae-hyeok, Chairperson of the Budget and Accounts Committee, explained, “We reached a consensus with fellow council members to focus on strengthening quarantine and livelihood safety budgets to overcome the difficulties faced by citizens due to the spread of COVID-19 and the ongoing economic recession, and approved the 2021 budget accordingly.”

He added, “In this crisis phase of COVID-19, timely and well-targeted investment of the budget is more important than ever, so we strictly reviewed the budget to prevent wasteful spending. We expect the approved budget to help overcome COVID-19 and ensure the livelihood safety of Seoul citizens.”

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