Ulsan City, Third Supplementary Budget of 271.9 Billion Won for This Year

Total Budget Increased to 5.3274 Trillion Won

Focus on Pro-Business and Cultural Tourism City Development

Ulsan City has prepared a supplementary budget worth 270 billion KRW. This is the third supplementary budget this year, bringing the total budget for the year to over 5.32 trillion KRW.

On the 24th, Ulsan City announced that it has prepared the "2023 3rd Supplementary Budget" to revitalize the local economy and improve living conditions.

The supplementary budget amounts to a total of 271.9 billion KRW, with 254.6 billion KRW in the general account and 17.3 billion KRW in the special account. Accordingly, Ulsan City's budget increased to 5.3274 trillion KRW. The main sources of funding include 182.6 billion KRW from net world surplus funds, 37.6 billion KRW from national subsidies, and 16.6 billion KRW from non-tax revenues.

This supplementary budget focuses on creating an environment where citizens want to stay and live in Ulsan, as well as on regional growth and specialized development.

Key supplementary budget items include 30.8 billion KRW to create a pro-business city and expand investment in future strategic industries, and 51.5 billion KRW to expand smooth urban transportation infrastructure and create a pleasant urban environment.

To realize a "cultural tourism city" that everyone can enjoy, 19.3 billion KRW was allocated, 31.2 billion KRW for "expanding welfare support such as livelihood stabilization," 9.9 billion KRW for "strengthening disaster prevention and public safety," 97.7 billion KRW for "securing funds for large-scale SOC projects," and 21.3 billion KRW for "other city administration projects," including financial support for deficit routes in city bus transportation.

An official from Ulsan City stated, "We will do our best to continuously promote pro-business policies to attract corporate investment and simultaneously create a livable Ulsan full of jobs and comfortable living."

The 3rd supplementary budget proposal will be submitted to the city council on August 25 and is expected to be finalized in mid-September after deliberation during the 241st temporary session of the city council.

Ulsan City Hall.

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