Daegu Mayor Hong Jun-pyo: "Thoroughly Reject Wasteful Spending in Next Year's Budget"... Significant Cuts Expected in Event and Organization Subsidies

Daegu City will conduct a thorough analysis of the feasibility of projects related to private events, subsidy programs, and grants ahead of the budget formulation period for the next fiscal year, which begins in mid-August. Projects with insufficient effectiveness or inefficiency will be reconsidered from the ground up.

The budget items undergoing detailed analysis by Daegu City include grants provided to investment and contribution institutions, subsidies to private organizations including civic groups, covering three budget categories and ten target projects. These institutions and organizations will be subject to a detailed analysis of specific calculation bases for budget support, execution and settlement details over the past three years, and achievement of performance goals.

Daegu City Hall Sangyeok Office.

Following this year, Daegu City is preparing to start financial analysis and fiscal tightening of private events, subsidy programs, and grants earlier than usual, as uncertainties regarding economic improvement and stable tax revenue collection are expected to remain high next year.

Daegu City will conduct a full survey of private events, subsidy programs, private consignment projects, and grants, and although budget support has been routinely provided annually for underperforming projects, next year it plans to block unnecessary financial waste from the budget review stage.

Additionally, populist and cash-type welfare projects will be comprehensively readjusted to redirect resources toward new welfare demands, continuing the sound fiscal policy through fiscal tightening.

Daegu City will actively discover support projects aimed at stabilizing citizens’ livelihoods amid high inflation and high interest rates, increasing sales for small and medium-sized merchants, and creating jobs for youth. It will also accelerate the discovery of various projects that allow citizens to personally experience the changed status of Daegu through the ‘Daegu Great Innovation’ initiative, which has been continuously pursued throughout the first year of the 8th municipal administration, including industrial restructuring toward five advanced future industries.

Mayor Hong Jun-pyo stated, “This year, projects envisioned as the inaugural year of ‘Daegu’s Rise’?such as the enactment of the Special Act on the Integrated New Airport, the proposal of the Special Act on the Daegu-Gwangju Dalbit High-Speed Railway, the establishment of the K2 rear site development plan, and the completion of the blueprint for Metro Line 4?are progressing smoothly.” He added, “Next year, we will focus on debt reduction and fiscal soundness for future generations, thoroughly rejecting any waste of citizens’ tax money, and do our best to produce visible achievements for Daegu’s future 50 years of development and efficient fiscal management so that citizens can take pride in being Daegu residents.”

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