Seoul Metropolitan Council Budget Committee Chair Elected: Lawyer Kim Ho-pyeong

[Asia Economy Reporter Jong-il Park] The Seoul Metropolitan Council appointed 33 members of the Budget and Accounts Special Committee, which will review and approve the budgets of the Seoul Metropolitan Government and the Seoul Metropolitan Office of Education for the next year, at the 302nd extraordinary session plenary meeting held on the 10th. Kim Ho-pyeong (Democratic Party, Gwangjin 3) was elected as the chairman.

Chairman Kim Ho-pyeong has been engaged in legislative activities as a member of the Administrative Autonomy Committee (July 2018 ? July 2020) and currently serves on the Urban Planning and Management Committee (July 2020 ? present). He is also recognized for contributing to enhancing the effectiveness of Seoul’s youth policies as the chairman of the Special Committee on Youth Policy.

Additionally, Chairman Kim holds qualifications as a lawyer and a certified public accountant, enabling him to conduct thorough preparations and incisive inquiries during administrative audits to ensure that project directions are properly adjusted. He previously served as a member of the Budget and Accounts Special Committee (August 2018 ? August 2019) and is regarded as a suitable candidate to review the budget preparing for the 'With Corona' era.

Regarding Seoul’s financial situation for the next year, Chairman Kim analyzed that if COVID-19 is overcome, the recovery of the domestic and international economy will lead to increased tax revenues such as national and local taxes. However, demands for expenditures exceeding revenue are expected due to the need to revive the stagnant local economy, continuous investment in COVID-19 quarantine budgets, and welfare for vulnerable groups.

Moreover, since most local governments, including Seoul, secured funds through expenditure budget restructuring to respond to COVID-19 in the 2020 and 2021 fiscal years, and given the limitations of available resources such as surplus funds and local bonds, Chairman Kim emphasized that the next year’s budget requires rational choices that identify and reflect the most prioritized projects from the citizens’ perspective.

Therefore, Chairman Kim Ho-pyeong expressed his intention to strive for the priority inclusion of budgets for ▲ stable jobs to support economic recovery ▲ support funds such as the COVID-19 coexistence national support fund for consumption recovery and livelihood stabilization ▲ quarantine budgets to prevent COVID-19 resurgence ▲ livelihood support for low-income vulnerable groups ▲ management support for small business owners and micro-entrepreneurs.

He also stressed that he and the committee members will faithfully fulfill their responsibilities and roles as financial watchdogs entrusted by citizens to ensure that the taxes paid by citizens are properly used solely for their benefit.

The newly formed 10th 4th Budget and Accounts Special Committee, appointed according to the Seoul Metropolitan Council’s Basic Ordinance, will review the 2022 budget proposals of the Seoul Metropolitan Government and the Seoul Metropolitan Office of Education, fund operation plans for funds, approval of the 2021 fiscal year settlement, approval of contingency fund expenditures, and approval of fund settlements.

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