Sejong City, First Supplementary Budget of 204.7 Billion Won for This Year Formulated

Sejong City announced on the 15th that it has prepared an additional supplementary budget of 204.7 billion KRW for this year and submitted it to the Sejong City Council.

If the supplementary budget passes as originally proposed by the Sejong City Council, the total budget for Sejong City this year will increase to 2.2075 trillion KRW, including the original budget (2.0028 trillion KRW).

In preparing the supplementary budget, Sejong City focused on revitalizing the local economy, supporting public transportation innovation, strengthening the welfare safety net, and establishing cultural and sports infrastructure.

First, Sejong City allocated 30 billion KRW in the supplementary budget as investment funds for the creation of the Sejong Smart National Industrial Complex, and additionally allocated 6.9 billion KRW for cashback support for the local currency ‘Yeominjeon’.

With the additional budget, the cashback support will increase to a total of 21.9 billion KRW, including the original budget (15 billion KRW). Through this, Sejong City plans to raise the Yeominjeon cashback rate from the existing 5% to 7%.

Additionally, 20 million KRW for sales receivables insurance premiums for local small and medium-sized enterprises and mid-sized companies, and 3.5 billion KRW for agricultural subsidies were allocated respectively to support the revitalization of the local economy.

Sejong City also included 15.1 billion KRW in the supplementary budget for the purchase of 34 additional hydrogen buses under the name of supporting public transportation innovation. This is to meet the bus demand resulting from route reorganization with hydrogen buses.

Furthermore, the supplementary budget includes 780 million KRW for establishing an integrated fare system for bus-BRT-urban railway transfers, 500 million KRW for improving intersections in chronically congested local sections, 8.2 billion KRW to compensate for city bus operating losses, and 1.5 billion KRW to support fuel subsidies for freight and passenger transport industries.

Efforts will also be made to build a welfare safety net through budget securing. Sejong City allocated 1.3 billion KRW for the installation of a regional dental clinic specialized for the disabled at the Disabled Oral Health Center to expand convenience for the disabled, and 1.2 billion KRW in additional budget to support activities such as housekeeping and daily living for the disabled.

Additionally, 500 million KRW for senior job support and 2.4 billion KRW for infant allowance support for children under two years old were included in the supplementary budget.

Major cultural and sports infrastructure projects also received budget allocations for preparations such as the Summer World University Games and the International Garden City Expo.

Sejong City allocated 23.6 billion KRW for the Dae-pyeong-dong comprehensive sports facility site and the operating expenses of the organizing committee for the ‘2027 Summer World University Games’ hosted by the Chungcheong region, and included 300 million KRW in the supplementary budget for design service fees to prepare the foundation for the International Garden City Expo scheduled for 2025.

The supplementary budget is scheduled to be reviewed and processed at the ‘83rd Sejong City Council Regular Session’ to be held from the 22nd of this month to the 27th of next month.

Mayor Choi Min-ho of Sejong City said, “We will focus administrative efforts to ensure that the supplementary budget passes as originally proposed so that the stagnant local economy can be revitalized, public transportation innovation and welfare safety nets can be strengthened, and international-scale events held in the region can proceed smoothly.”

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