Ulsan Enters the Era of a 5 Trillion Won Budget... First Supplementary Budget Plan Formulated This Year

Supplementary Budget Scale 446.3 Billion KRW, Total Budget 5.0521 Trillion KRW

Focus on 'Fiscal Soundness' Including 50 Billion KRW Debt Repayment

Ulsan City has entered the era of a 5 trillion won budget.

On the 10th, Ulsan City announced that it recently formulated the “2023 First Supplementary Budget” based on maintaining sound fiscal management to alleviate citizens' difficulties caused by rising prices and economic slowdown.

The size of this supplementary budget is a total of 446.3 billion won, consisting of 416.7 billion won in the general account and 29.6 billion won in the special account.

The Ulsan City budget increased from the original budget of 4.6058 trillion won this year to 5.0521 trillion won with the supplementary budget of 446.3 billion won, surpassing the 5 trillion won mark.

The main resources were secured by utilizing an additional ordinary local allocation tax of 346 billion won, internal reserves, and last year's excess revenue of 49.5 billion won. The supplementary budget allocation is as follows.

815 billion won was allocated to strengthen fiscal soundness.

△ Local bond repayment 50 billion won △ Prepayment of remaining land price for the former Ulju-gun government office site 13.8 billion won △ Prepayment of remaining land price for the industrial accident specialized public hospital 17.7 billion won, etc.

The size of local bonds will decrease from 330 billion won at the end of the 7th elected term to 174.9 billion won, with a total repayment of 155.1 billion won (7.3 billion won at the end of 2022, 97.8 billion won in the 2023 original budget, and 50 billion won in the supplementary budget).

1.042 trillion won was allocated to revitalize jobs.

△ Local investment promotion subsidies 2.4 billion won △ Support for customized regional industry job creation 1.9 billion won △ Support for regional employment crisis response 1.4 billion won △ Senior job projects 2.9 billion won △ Road construction and expansion projects (10 cases) 17.9 billion won △ Maintenance of metropolitan roads (paving, sidewalks, drainage) 5.2 billion won △ Undergrounding of power lines 4 billion won △ Intersection improvement projects 3.6 billion won △ Local river maintenance projects (Gokcheoncheon, Hyoamcheon, etc.) 8.7 billion won △ Construction of youth hope housing (6 cases) 2.6 billion won △ Urban regeneration projects (2 cases) 2.4 billion won, etc., to boost economic vitality.

587 billion won was allocated for new industries and future environments.

△ Next-generation secondary battery commercialization support center construction project 3.7 billion won △ High-performance and high-safety electric vehicle prismatic secondary battery material and parts demonstration center construction project 3.8 billion won △ Establishment of intelligent power drive core parts support infrastructure 1 billion won △ Purchase of land for the National Ulsan Carbon Neutral Specialized Science Museum 3.5 billion won △ Plastic recycling and upcycling demonstration support center construction 1 billion won △ Hydrogen electric tram demonstration project 0.5 billion won △ Ulsan-type urban air mobility development project 0.3 billion won, etc., continuously expanding investment in new industries and future environments.

350 billion won was allocated for a safe city.

△ Installation of buffer retention facilities at Ulsan Mipo Onsan National Industrial Complex 3.4 billion won △ Construction of disaster safety management CCTV in the national industrial complex 1.5 billion won △ Installation of special disaster training facilities 1 billion won △ Typhoon Hin Namno damage recovery and local river disaster recovery projects 13.2 billion won △ Reinforcement of safety equipment such as ambulance command vehicles 1 billion won △ Drainage improvement project in Dongsam district 2.3 billion won △ Purchase of large-capacity drainage pumps for flood prevention 1.3 billion won △ Pine wilt disease control 3.8 billion won, etc., focusing on disaster prevention and strengthening public safety.

264 billion won was allocated to create a refined culture.

△ Cultural city creation 2.7 billion won △ Marine leisure tourism hub project 1.2 billion won △ Relocation and construction of Jungbu Library 1 billion won △ Construction of Ulsan Garden Support Center 1.5 billion won △ Repair and maintenance of Ulsan Gyeongsangjwa-do Byeongyeongseong and Ulju Eonyang Eupseong 1 billion won △ Creation of alternative soccer field at Jung-gu Simnidaebat 1 billion won △ Installation of public outdoor ice rink 0.6 billion won △ Ecological rest space (natural yard) creation project 1 billion won △ Creation of Sincheon Park 2 billion won △ Support for hosting competitions by sports association member organizations 0.6 billion won △ 2023 Autumn Korean Women's Football Federation Championship 0.3 billion won, etc., to realize an enjoyable culture and tourism city.

719 billion won was allocated to support welfare and livelihood sharing warmth.

△ Support for issuance of Ulsan Love Gift Certificates 32.3 billion won △ Workplace improvement support project for platform workers 0.3 billion won △ Funeral support expenses for COVID-19 deceased 0.9 billion won △ Preventive vaccination for children against rotavirus, etc. 0.7 billion won △ Support for heating costs at social welfare and vulnerable facilities 0.7 billion won △ Operation of shelters for disabled children victims 1.4 billion won △ Relocation and installation of shelters for abused children 0.5 billion won △ Establishment of base centers for people with developmental disabilities 1.3 billion won △ Operation of metropolitan mental health welfare center and mental emergency response 0.3 billion won △ Operation of regional mental emergency medical center 0.6 billion won △ Price subsidy and supply stabilization support for mineral fertilizers 0.7 billion won △ Support for crop disaster insurance premiums 0.4 billion won △ Support for purchase of fiber mixed feed for livestock farms 0.5 billion won △ Compensation for livestock culling, etc. 0.6 billion won, etc., actively supporting livelihood stabilization and vulnerable groups.

686 billion won was allocated to promote city administration projects.

△ Financial support for deficit routes of city buses 30 billion won △ Transfer of site and building of former Jungbu Waterworks Office 1.7 billion won, etc.

Kim Doo-gyeom, Mayor of Ulsan City, said, “This supplementary budget was carefully formulated to restore sound finances to reduce the burden on future generations while helping economic vitality and stabilizing citizens' lives,” adding, “We will cooperate with the city council to ensure swift processing.”

The first supplementary budget will be submitted to the city council on the 11th and is expected to be finalized in early May after deliberation during the 238th temporary session of the city council.

Ulsan City Hall.

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