Seoul City "Willing to Partially Accept O Se-hoon Pledge Project Cuts... Resolution Within the Year, Close Consultation"

"Proposal for Livelihood and Quarantine Measures Worth 540 Billion Won"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government has announced its intention to partially accept the Seoul Metropolitan Council's demands in order to pass next year's budget bill within this year.

On the 24th, Seoul City stated in a press release, "We are keeping all possibilities open and conducting negotiations with the City Council with a progressive attitude to ensure that the budget plan for next year is smoothly processed within this year." It added, "We are willing to accept the City Council's demands to increase the budget for private consignment and private subsidy projects related to 'Restoring Seoul' within a reasonable range, and also partially accept Mayor Oh Se-hoon's pledge projects by adjusting the volume and timing."

Regarding the small business survival support fund, the city emphasized that it proposed an additional 540 billion KRW worth of livelihood and quarantine measures beyond the existing budget allocation. The previous day, the City Council held an emergency briefing, urging Mayor Oh to promptly allocate 3 trillion KRW for the survival support fund and to stop attempts to enforce pledge projects at the expense of livelihoods.

Seoul City conveyed, "We fully consider the purpose of the small business survival support fund proposed by the City Council's Budget and Accounts Special Committee, which aims to revive livelihoods suffering from COVID-19."

It added, "To alleviate the pain of small business owners, self-employed individuals, and ordinary citizens, next year's budget must be approved within this year and swiftly executed from the beginning of next year. We will do our best to ensure that the fiscal year-end closing is timely and that finances serve as a pillar of citizens' lives."

With Seoul City expressing its willingness to partially accept the City Council's demands, attention is focused on whether the budget bill will gain momentum. However, since the City Council has demanded 3 trillion KRW for the survival support fund, it remains uncertain whether a final agreement can be reached with Seoul City's additional 540 billion KRW allocation plan.

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