Daejeon City Allocates 694.6 Billion Won in Supplementary Budget... Focus on COVID-19 Damage Support and More

[Asia Economy (Daejeon) Reporter Jeong Il-woong] On the 29th, Daejeon City announced that it has prepared a second supplementary budget of 694.6 billion KRW for this year and submitted it to the Daejeon City Council.

The supplementary budget focuses on matching the local government’s share of the COVID-19 coexistence national support fund and supporting low-income groups, small business owners, and small and medium-sized enterprises (SMEs) in response to the fourth wave of COVID-19.

The size of the supplementary budget was set at 5.7766 trillion KRW for the general account and 1.0409 trillion KRW for the special account.

The budget details include 302.6 billion KRW for matching the COVID-19 coexistence national support fund, 13.5 billion KRW for public utility support for industries affected by COVID-19, 7.6 billion KRW for small business owners’ card fee support, and 4.0 billion KRW for special guarantees for balanced growth of small business owners.

Additionally, 10.6 billion KRW was allocated for new hiring subsidies to maintain employment and create jobs in SMEs, 5.3 billion KRW for the Hope Work Project to support jobs for vulnerable groups, and 1.2 billion KRW for the establishment of the Daejeon-type New Deal Fund.

Furthermore, the city allocated 60.5 billion KRW for local love gift certificates, 20.0 billion KRW for promoting the redevelopment of the Daejeon Station area, 27.1 billion KRW for city bus financial support, and 5.9 billion KRW for the construction of the Hanbat Library National Sports Center in this supplementary budget, aiming to promote local projects and stimulate consumption during the stable phase of COVID-19.

The prepared supplementary budget will be finalized on the 13th of next month after approval by the city council.

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