Gyeongbuk Yeongju City Sets 796.2 Billion Won Budget for Next Year... Focus on Livelihood Stability and Regional Economic Revitalization

Gyeongbuk Yeongju City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Se-ryeong] Yeongju City, Gyeongbuk Province, has prepared the '2022 General and Special Account Revenue and Expenditure Budget Proposal' and submitted it to the city council on the 19th.

The budget proposal consists of 720 billion KRW for the general account and 76.2 billion KRW for the special account, representing a 3.58% increase compared to this year's original budget of 768.7 billion KRW.

Yeongju City explained that the budget was prepared with the expectation that economic conditions will improve due to the phased recovery of daily life and that transfer income such as local allocation tax will increase following the government's expansionary fiscal policy.

In response to the post-COVID-19 era, Yeongju City focused on stabilizing people's livelihoods and revitalizing the local economy to ensure a swift return to normal life for residents.

The city also plans to provide stable financial support for building social safety nets, including projects related to COVID-19 infection prevention such as living quarantine and operation of screening clinics.

For large-scale investment projects, the city intends to actively allocate available financial resources, which are revenue sources that local governments can mobilize for investment, to secure future growth engines.

The city allocated 16.4 billion KRW more than the previous year to the industrial, small and medium-sized enterprises, and energy sectors.

The budget also includes 4 billion KRW for discounts on Yeongju Love gift certificates, 2.2 billion KRW for small business support projects, and 2.2 billion KRW for fostering small and medium enterprises to invigorate the local economy.

Future growth engine projects were also budgeted, including 780 million KRW for establishing a regional aviation industry platform, 9.5 billion KRW for investment company incentive support, 8.6 billion KRW for lightweight materials and bearing industries, and 2.7 billion KRW for renewable energy convergence and complex projects.

In the environmental sector, the budget increased by 13.1 billion KRW compared to last year, with allocations of 2.6 billion KRW for ecological stream restoration projects, 1.6 billion KRW for non-point pollution source reduction projects, 2.3 billion KRW for waste treatment facility expansion, 1.2 billion KRW for slate disposal support projects, and 6 billion KRW for projects to reduce emissions from diesel vehicles and support for electric vehicle purchases.

Seonbi Sesang, the Korean cultural theme park scheduled to open in the second half of the year, was allocated 7 billion KRW for opening and operation, and 1.45 billion KRW was assigned for the successful hosting of the 2022 Yeongju World Punggi Ginseng Expo.

Large-scale projects such as the parking tower in Gahung New Town and the parking lot construction project for the children's theme park were also budgeted with 6 billion KRW, indicating smooth progress is expected.

Mayor Jang Wook-hyun said, "We prepared the budget focusing on the rapid recovery of residents' daily lives and economic revitalization," adding, "Let us work together to successfully complete key priority projects and wisely respond to the post-COVID-19 era."

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