Uijeongbu City Confirms 2021 Budget of 1.2692 Trillion Won, a 5.8% Increase from This Year

General Account: 1.0692 Trillion Won, Special Account: 200 Billion Won

An Byeong-yong, Mayor of Uijeongbu

[Asia Economy Reporter La Young-cheol] The 2021 main budget for Uijeongbu-si, Gyeonggi Province, has been finalized at 1.2692 trillion KRW (1.0692 trillion KRW for the general account and 200 billion KRW for the special account). This represents an increase of 69.2 billion KRW (5.77%) compared to 1.2 trillion KRW in 2020.

Based on the 2021 main budget, the local tax burden per citizen is 433,000 KRW, which is 7,000 KRW less than 440,000 KRW in 2020. The expenditure budget per citizen is 2,322,000 KRW, an increase of 194,000 KRW from 2,128,000 KRW in 2020.

Due to the delayed economic recovery caused by COVID-19, local income tax decreased by 6 billion KRW and local allocation tax by 10.3 billion KRW compared to 2020. It is expected that the 2021 local tax revenue conditions will find it difficult to recover the same level of revenue growth trend as in 2020.

The city reflected the maximum possible annual local tax and non-tax revenue available budget to overcome uncertain local tax revenue conditions and revitalize the regional economy. To this end, 44.3 billion KRW was secured from the Integrated Fiscal Stabilization Fund by utilizing surplus resources such as reserves in the special account, and included in the 2021 budget.

Of the 1.0692 trillion KRW general account budget for 2021, 45.3 billion KRW was allocated to general public administration, and 47.9 billion KRW to education. Additionally, 51.2 billion KRW was allocated to culture and tourism, 81.6 billion KRW to environment, 567.1 billion KRW to social welfare, and 23.3 billion KRW to health.

For industry and small and medium enterprises aimed at job creation and regional economic revitalization, 10.9 billion KRW was allocated; 84.5 billion KRW for transportation and logistics; and 34.8 billion KRW for land and regional development.

Major living SOC projects include ▲43 billion KRW for the construction of the Downtown Forest Youth Healing Center ▲62 billion KRW for expanding public sports facilities such as volleyball practice courts ▲8.9 billion KRW for road construction including Howon-dong Jung-ro 1-25 Line ▲8 billion KRW for maintenance of road facilities such as Heungseon Bridge ▲3 billion KRW for maintenance of Buyongcheon Stream ▲4 billion KRW for Wonmeoru and Jeongjamal urban development projects ▲2.2 billion KRW for urban regeneration projects including Sinheung Village ▲1.9 billion KRW for construction of Gosan District Youth Culture House ▲1.7 billion KRW for remodeling of the Children's Library ▲5.7 billion KRW for urban park projects such as Gageum Bridge Cultural Park.

For COVID-19 response, the budget includes ▲1.3 billion KRW for emergency COVID-19 response such as diagnostic testing ▲2.4 billion KRW for financial support to local universities ▲2.2 billion KRW for job expansion projects including youth job platform establishment ▲2.7 billion KRW for support of small and venture businesses ▲3.9 billion KRW for revitalization of traditional markets and alleyway commercial districts.

Mayor Ahn Byung-yong of Uijeongbu-si stated regarding the 2021 budget, "We will do our best to ensure that the projects confirmed for 2021 are executed without any setbacks to overcome the COVID-19 crisis."

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