Naju-si, First Supplementary Budget of the 8th Elected Term Formulated... 229.3 Billion KRW Increase

Focus on Securing Future Growth Engines Such as Revitalizing Local Economy, Welfare, and Building Safety Nets

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Naju City has formulated the first supplementary budget plan of the 8th elected administration and is set to actively manage its finances, having settled into the era of a 1 trillion won budget.

Naju City announced on the 22nd that it submitted the 2022 2nd supplementary budget plan amounting to 1.1315 trillion won to the Naju City Council on the 18th.

Compared to the 1st supplementary budget, the general account increased by 209.8 billion won to 1.0505 trillion won, and the special account increased by 19.4 billion won to 81 billion won.

The supplementary budget general account was allocated by sector as follows: 15.6 billion won for ‘General Administration and Safety,’ 13.9 billion won for ‘Culture, Tourism, and Education,’ 11.7 billion won for ‘Environment,’ 22.7 billion won for ‘Social Welfare and Health,’ 89.5 billion won for ‘Agriculture and Forestry,’ 31.7 billion won for ‘Transportation and Regional Development,’ and 16.3 billion won for ‘Industry, SMEs, and Energy.’

Mayor Yoon Byung-tae emphasized that this supplementary budget plan focuses on support projects aimed at stabilizing the livelihood economy for small business owners, vulnerable groups, and agricultural and livestock farmers who are struggling due to the prolonged COVID-19 pandemic and high inflation and fuel prices.

In particular, the budget includes 5.7 billion won to increase the discount rate for purchasing Naju Love Gift Certificates from the existing 5% to 10% from next month until the end of the year, as well as 20.3 billion won for revitalizing the stagnant livelihood economy and commercial districts through temporary emergency living support for vulnerable groups, basic pensions, and living support for COVID-19 quarantined individuals.

For sustainable agriculture and stabilization of agricultural and livestock product supply, 61.1 billion won was allocated for direct payments, crop disaster insurance, management stabilization measures, mineral fertilizers, tax-exempt fuel for agricultural machinery, and culling compensation support.

Development and current projects such as the construction of Yeongsan River tourism, culture, and sports infrastructure and expansion of public sports facilities (13.2 billion won), job creation, investment company support, and new energy industries (16.2 billion won), which Mayor Yoon proposed as future growth engines for Naju, were also comprehensively reflected in the budget plan.

New welfare projects that aim to create a welfare community where all generations and classes, including socially vulnerable groups, can equally benefit also attract attention.

New projects include ‘Naju-type infertility treatment support regardless of income,’ ‘Provision of standing tables and chairs for senior centers and village halls,’ ‘Temporary care for Naju-type developmental disabilities,’ and ‘Survivor allowances for spouses of veterans.’

Additionally, disaster risk zone improvements and small stream maintenance projects (14 billion won), road construction and expansion (5.7 billion won), rural living environment maintenance (5.7 billion won), and living SOC construction (1.4 billion won) were carefully included to improve citizen safety and convenience.

The 2nd supplementary budget plan will undergo review by each standing committee and the Special Committee on Budget and Accounts starting from the 23rd and is scheduled to be approved and finalized at the plenary session on the 26th of this month.

Mayor Yoon said, “The budget was formulated focusing on economic recovery from the COVID-19 downturn, stabilization of vulnerable groups’ livelihoods, and fostering future growth engines,” adding, “We will do our best to efficiently manage the budget to improve citizens’ quality of life and create a welfare community where all generations and classes can be happy and feel the benefits.”

Naju=Honam Reporting Headquarters Reporter Kim Yukbong yjm3070@asiae.co.kr

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