Namwon-si Submits 1.1 Trillion KRW First Supplementary Budget to City Council

Published 24 Feb.2023 15:03(KST)

Namwon City, Jeonbuk Province (Mayor Choi Kyung-sik) announced that it has prepared the first supplementary budget proposal for 2023 amounting to 1.1 trillion KRW and submitted it to the city council on the 24th to organize pending projects following the rapid progress of pledged projects.

Namwon City Hall Exterior View <br>[Photo by Namwon City]

Namwon City Hall Exterior View
[Photo by Namwon City]

The total scale of Namwon City's first supplementary budget proposal for 2023 is 1.1025 trillion KRW, which is a 7.4% increase compared to this year's original budget of 1.0264 trillion KRW.

The general account is 1.0442 trillion KRW, an increase of 70.6 billion KRW (7.3%), and the special account is 58.3 billion KRW, an increase of 5.5 billion KRW (10.4%).

Looking at the general account expenditure budget by sector, increases were made in general and public administration by 4.3 billion KRW, public order and safety by 760 million KRW, education by 3.5 billion KRW, culture, sports and tourism by 9.1 billion KRW, environment by 4.8 billion KRW, and social welfare by 2.9 billion KRW.

Additionally, increases were made in agriculture and forestry by 11.3 billion KRW, industry, small and medium enterprises and energy by 22.5 billion KRW, transportation and logistics by 1.8 billion KRW, land and regional development by 20.8 billion KRW, and other sectors by 640 million KRW.

Major reflected budgets include key projects of the 8th local government administration such as the purchase of private land within long-unexecuted urban parks at 12 billion KRW, construction of a drone leisure sports stadium at 10 billion KRW, acquisition of land for the UAM drone promotion and exhibition center at 6.4 billion KRW, Yocheon integrated river maintenance project at 2.5 billion KRW, cultural heritage survey for Manin Park at 1.7 billion KRW, and the basic plan and feasibility study for Phase 1 of the Hampau Art Valley project at 1.5 billion KRW.

Also included are the construction of a natural cosmetics testing and clinical center at 1.1 billion KRW, the Namwon lacquerware woodworking exhibition hall construction project at 200 million KRW, support for senior citizen jobs at 1.2 billion KRW, price stabilization support for tax-exempt agricultural fuel at 980 million KRW, free transportation support for the elderly at 750 million KRW, and emergency heating cost support for low-income vulnerable elderly at 200 million KRW.

Mayor Choi Kyung-sik said, “This first supplementary budget proposal was prepared early to accelerate the progress of pledged projects of the 8th local government administration. We will strive to ensure that projects responsible for Namwon’s future industries, such as the 2023 Namwon FAI World Drone Racing Championship to be held in October, proceed without any setbacks.”

This first supplementary budget will be submitted to the 257th Namwon City Council extraordinary session starting on the 9th of next month, and after review and resolution, it is expected to be finalized on the 24th of next month.