Next Year's Seoul Budget Revised to 47.1905 Trillion Won... 7.375 Billion Won Cut from Unnecessary Expenses

Strengthening Budget Oversight Authority of Seoul Metropolitan Council: 10 Billion KRW Cut from Seoul National University of Science and Technology Support Budget... Merely Wordplay on University Financial Autonomy Dependent on Taxes... Seoul Metropolitan Council's Financial Review of Projects Using Citizens' Taxes Continues

[Asia Economy Reporter Park Jong-il] The Seoul Metropolitan Council (Chairman Kim Hyun-gi, People Power Party, Gangnam 3) amended and approved the 2023 budget proposal submitted by Seoul Mayor Oh Se-hoon on November 15.

The budget for next year, amended and approved by the Seoul Metropolitan Council, totals 47.1905 trillion KRW, including 33.466 trillion KRW in the general account and 13.7244 trillion KRW in the special account. This represents a reduction of 14.7 billion KRW from the originally submitted proposal and complies with Article 142 of the Local Autonomy Act, which requires the budget to be approved at least 15 days before the start of the fiscal year.

The major projects in the 2023 Seoul Metropolitan Government budget confirmed by the Seoul Metropolitan Council include 17 billion KRW to support the development of small business associations in autonomous districts to aid small business owners struggling due to the aftermath of COVID-19, 4.8 billion KRW for improving working environments in fashion sewing companies, 8.6 billion KRW for stabilizing the living conditions of residents in jjokbang (tiny room) dwellings, and 34.7 billion KRW for operating Our Neighborhood Kiwoom Centers. These are regarded as council-level decisions reflecting the commitment to "walking with the vulnerable."

Additionally, the budget allocates 4.9 billion KRW for promoting Beauty City Seoul, 6.7 billion KRW for creating a waterfront emotional city, and 2.7 billion KRW for the Book Reading Seoul Plaza, thereby further strengthening the foundation of a "charming special city." The budget also adjusts to focus more on "urban safety" by allocating 18.9 billion KRW for installing LED pedestrian signal lights on crosswalks and 12 billion KRW for remote snow removal systems in vulnerable areas.

Moreover, the budget includes 2.5 billion KRW for financial support to airport bus companies recovering from the COVID-19 pandemic, 2.4 billion KRW for establishing youth job centers to aid youth employment, and 900 million KRW for safe design projects in traditional markets to revitalize them, ensuring comprehensive funding for restoring daily life after the pandemic.

Furthermore, the budget support for the University of Seoul was cut by 10 billion KRW, a 17.3% reduction from the originally submitted 57.6 billion KRW, which is interpreted as a predictable step.

After the 2023 budget proposal was submitted to the Seoul Metropolitan Council, Chairman Kim Hyun-gi pointed out in a media interview on November 14 that when the half-price tuition was implemented in 2012, the University of Seoul ranked around 500th globally, but this year it is ranked around 800th, highlighting the significant decline in the university's competitiveness over time. Therefore, the reduction in funding for the University of Seoul is seen as a natural outcome.

Chairman Kim Hyun-gi explained that according to the annual QS World University Rankings 2022, the University of Seoul has dropped approximately 300 places over the past 10 years since 2012. While this could be attributed to an increase in the number of universities evaluated, domestic universities have either maintained or improved their rankings during the same period. This suggests that the university system’s dependence on Seoul’s financial support has created an environment where there is little incentive to compete.

Moreover, despite receiving an average annual support of 58 billion KRW and a total of 637 billion KRW in taxes from Seoul over the past 11 years since 2012, the University of Seoul’s competitiveness has sharply declined. External evaluations indicate a low proportion of foreign students, fewer papers per faculty member, insufficient research achievements, and a lack of industry-academia cooperation. The university missed the opportunity for immediate restructuring and reform management, resulting in a perception as a university where students only stay temporarily, with a leave-of-absence rate of 48.8% relative to enrolled students and 32.8% relative to registered students, highlighting the urgent need for institutional improvements.

Chairman Kim Hyun-gi stated that the 10 billion KRW budget cut for Seoul’s support is intended to demand more active innovation and reform from internal members to strengthen research performance and competitiveness. Externally, it is a practical measure by the Seoul Metropolitan Council to express the will to reduce financial dependence on Seoul and enable the university to secure independence and autonomy in financial management.

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