Yangsan City, 1st Supplementary Budget of 1.4543 Trillion KRW Allocated... "Supporting the Low-Income Economy"

Increase of 85.1 Billion KRW ... Early Budget Allocation to Revitalize Local Economy

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Yangsan City in Gyeongnam announced on the 8th that it has prepared the first supplementary budget for 2021 totaling 1.4543 trillion won to support the struggling low-income economy due to the novel coronavirus infection (COVID-19).

The general account amounts to a total of 1.3023 trillion won, an increase of 84.4 billion won (6.93%) compared to the original budget, while the special account is 151.9 billion won, which is 700 million won more than the original budget.

This supplementary budget reflects efforts to revitalize the local economy weakened by the prolonged COVID-19 pandemic, protect small business owners, support job projects and the construction of living SOC projects, urban regeneration New Deal projects, and budget adjustments by department following the city organization restructuring.

Major projects include 3.8 billion won for operating the Yangsan Love Gift Certificate, 200 million won in contributions to support small business owners, 400 million won for the D-Yangsan Youth Job Support Project, 460 million won for the Youth Center Construction Project, 250 million won in contributions to the Talent Development Scholarship Foundation to support scholarships for new university students in the area, and 160 million won for local quarantine job projects, prioritizing budgets for projects aimed at revitalizing the local economy.

Additionally, 1.7 billion won was newly allocated for the creation of Myeongdong Park, 4.3 billion won for Pyeongsan Neighborhood Park, 3.2 billion won for typhoon damage restoration work, 5 billion won for urban regeneration New Deal projects, and 4.6 billion won to support the construction of large-scale living SOC projects to improve citizens' economic sentiment and quality of life.

Mayor Kim Il-kwon stated, “Since this supplementary budget was prepared quickly, we will make every effort to revitalize the local economy and resolve citizens' inconveniences through prompt execution as soon as it is approved by the city council.”

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