Daegu City Allocates 262.4 Billion Won for '1st Supplementary Budget'... 2.8% Increase from Original Budget of 9.3897 Trillion Won

Hope Jobs 25 Billion Won (Separate 25 Billion Won for Districts) · Support Plus 13 Billion Won
Mayor Kwon Young-jin "Preparing 2nd and 3rd Additional Economic Quarantine Depending on COVID-19 Situation"

Daegu Mayor Kwon Young-jin is seen visiting the EXCO 2nd Exhibition Hall construction site, which is entering its final stage, on the 13th and receiving a report from an official.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] The city of Daegu announced on the 15th that it has prepared and submitted to the city council the first supplementary budget for this year amounting to 9.6521 trillion won, which is an increase of 262.4 billion won from the original budget of 9.3897 trillion won.

The special account remains unchanged at 2.0325 trillion won, while the general account increased by 262.4 billion won (3.6%) from 7.3572 trillion won to 7.6196 trillion won. Accordingly, the overall supplementary budget increased by 2.8% compared to the original budget.

The revenue sources include a net surplus of 256.3 billion won from excess revenue and unspent balances from 2020, and a total of 262.4 billion won reflecting national subsidies for COVID-19 emergency response and operation of residential treatment centers.

The city of Daegu explained that this supplementary budget was prepared to support vulnerable groups facing survival crises due to the prolonged COVID-19 pandemic, to support jobs, and to more thoroughly assist blind spots excluded from government support.

The main expenditure items are ▲250 billion won for expanding Daegu-type Hope Plus jobs ▲13 billion won for Daegu-type Safety Net Plus funds ▲10 billion won for expanding emergency livelihood support for crisis households ▲27.9 billion won for Daegu-type economic quarantine focused on supplementing government support blind spots, jobs, and emergency welfare. Additionally, 186.5 billion won will be allocated for other statutory and mandatory expenses.

The most notable project related to this supplementary budget is the Daegu-type Hope Plus project. Daegu city plans to urgently inject 25 billion won in city and district/county funds each, totaling 50 billion won, to supply an additional 10,000 jobs. Last year, there were 3,000 jobs (12.1 billion won), but this year it will significantly increase to 13,000 jobs (62.1 billion won).

Furthermore, to supplement the blind spots of the government’s Safety Net funds, Daegu city plans to provide 13 billion won from its own resources to support about 26,000 people in sectors such as travel tourism and performance exhibitions who do not receive government support, under the 'Daegu-type Safety Net Plus funds.'

Along with this, emergency livelihood support for crisis households struggling due to COVID-19 will be expanded from 15.1 billion won (15,000 households) to 35.1 billion won (35,000 households) for emergency welfare support including living expenses, education expenses, and housing costs. Daegu city plans to prepare 10 billion won from city funds for this supplementary budget, and secure the remaining 10 billion won through national funds (8 billion won) and district/county funds (2 billion won) to support an additional 20,000 households.

Mayor Kwon Young-jin of Daegu said, "This supplementary budget was prepared to more thoroughly support the blind spots excluded from government support," adding, "If deemed necessary depending on the COVID-19 damage situation in the future, we will also prepare timely second and third additional economic quarantine measures."

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