Gwangju Buk-gu, 2nd Supplementary Budget of 1.1174 Trillion Won Formulated

113.8 Billion KRW (11.34%) Increase Compared to Initial Budget (1st Supplementary Budget)

Focus on Supporting Small Business Owners and Vulnerable Groups, Recovering the Livelihood Economy, and Revitalizing the Local Economy

[Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong] On the 16th, Buk-gu, Gwangju City announced that it has submitted the 2nd supplementary budget proposal amounting to 1.1174 trillion won, an increase of 113.8 billion won compared to the original budget, to the district council.

This supplementary budget was formulated with a focus on supporting small business owners and self-employed individuals, stabilizing the lives of vulnerable groups, and recovering the local economy, which has been stagnated due to the resurgence of COVID-19, high oil prices, high inflation, and high interest rates.

The budget increase details include ▲27 million won for supporting small business owners and self-employed individuals ▲640 million won for customized job creation support for local industries ▲8.43 billion won for COVID-19 living support expenses ▲12.35 billion won for temporary living support for low-income groups.

Additionally, for ongoing projects such as expanding government buildings and parking lots, the budget includes ▲2.25 billion won for the construction of the integrated government building and public parking lot in Jungheung 2 and 3-dong ▲3.8 billion won for the construction of a public parking lot in Ochi-dong ▲1.37 billion won for the creation of the Unam Life Culture Center ▲1.5 billion won for the construction of the Together Sharing Happiness Community Center.

In particular, the budget plan reflects opinions gathered through continuous on-site communication with residents, such as residents' meetings, and plans to focus administrative and financial capabilities on resolving residents' inconveniences.

The 2nd supplementary budget proposal will be reviewed by the district council's standing committee and the special budget and accounts committee starting from the 24th, and will be approved and finalized at the plenary session on the 2nd of next month.

District Mayor Moon In said, “The budget was formulated focusing on stabilizing residents' lives exhausted by COVID-19 and recovering the stagnant economy. Once the budget is finalized, we will promptly execute it to resolve local issues.”

Meanwhile, since the 7th local government term, Buk-gu has efficiently improved its organization and continuously visited the National Assembly and central government departments to secure budgets. As a result, it is the only autonomous district in Gwangju City to have opened the era of a 1 trillion won budget for three consecutive years.

Honam Reporting Headquarters Reporter Kim Yuk-bong ks7664@asiae.co.kr

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