Gwanak-gu Opens 'Era of 1 Trillion Won Budget'... 2024 Budget Set at 1.003 Trillion Won

Carefully Managing Livelihood, Welfare, and Safety Despite Difficult Fiscal Conditions
315 Billion Won Increase Compared to Last Year... Opening of the '1 Trillion Won Budget Era'
Responding to Revenue Decline Crisis with Intensive Expenditure Restructuring to Prevent Budget Waste
Promoting ▲Building a Bigger Strong Economy ▲Warm Inclusive City Gwanak ▲Reliable Safe City Creation ▲Young and Vibrant Top Education and Culture ▲Creating a Clear and Pleasant Clean Living Environment

Gwanak-gu (Mayor Park Jun-hee) has entered the era of a 1 trillion won budget for the first time based on the original budget.

The district prepared a 2024 budget proposal of 1.003 trillion won, an increase of 31.5 billion won compared to this year, and submitted it to the Gwanak-gu Council.

This is the result of the district's efforts to block budget waste factors in advance through intensive expenditure restructuring and strategic resource allocation, despite the negative outlook for next year's revenue due to government tax revenue shortfalls and real estate market downturns.

Through this, the district will not only secure fiscal soundness but also steadily promote the core values of next year's financial management (▲Building a bigger and stronger economy ▲Warm and inclusive city Gwanak ▲Creating a reliable safe city ▲Young and vibrant top education and culture ▲Creating a clean and pleasant living environment).

First, the district will invest a total of 12 billion won in the economic and job sectors to build a "bigger and stronger economy." It aims to restore people's livelihoods through overcoming employment crises and steady support for commercial district revitalization.

Major projects include ▲Providing public jobs such as Seoul Donghaeng Jobs (3.6 billion won) ▲Operating Gwanak S Valley startup spaces (1.4 billion won) ▲Artterior project (600 million won) ▲Issuing Gwanak Love Gift Certificates (1.8 billion won) ▲Starlight Sinsari Commercial District Renaissance Project (700 million won), among others.

For a "warm and inclusive city Gwanak," a total of 619.9 billion won, accounting for 62% of the total budget, was allocated to the social welfare sector. This is the result of efforts to respond to increasing welfare demands by strengthening age-specific customized welfare services and expanding welfare facilities.

The district plans to take responsibility from creating an environment favorable for childbirth and child-rearing to ensuring a vibrant old age for seniors through ▲Construction of Gwanak Cultural Welfare Town (2.2 billion won) ▲Basic pension (193.9 billion won) ▲Support for senior social activities (18.2 billion won) ▲Livelihood and housing benefits (145.3 billion won) ▲Childcare fee support (28.5 billion won), among others.

Additionally, the district will invest 4 billion won of its own funds in 23 projects to create a "reliable safe city." The district will expand on-site patrols through autonomous crime prevention squads, forest path safety keepers, and community center safety officers, and work to alleviate residents' anxiety about abnormal motive crimes by expanding intelligent CCTV (closed-circuit) installations.

Along with this, by utilizing 5.7 billion won from the disaster management fund, the district will continuously carry out flood and wind damage prevention projects such as sewer pipe improvements and installation of flood prevention facilities in underground houses, making every effort to create a safe city free from crime and disasters.

In the top education and culture sector, the district will strengthen the educational foundation and support for educationally marginalized groups through ▲Education expenses (8 billion won) ▲Support for eco-friendly school meals (5.3 billion won). Also, to enable enjoyment of various cultural, artistic, and sports activities, a total of 41 billion won will be invested in projects such as ▲Construction of Nakseongdae District soccer field (1.4 billion won) ▲Operation of Gwanak Cultural Foundation (11.9 billion won).

Furthermore, the district allocated 91.2 billion won to build a clean and pleasant living environment. Budgets will be invested in ▲Cleaning and environment sector (45.5 billion won) ▲Road and transportation sector (22.9 billion won) ▲Urban and regional development sector (22.3 billion won) to resolve inconveniences closely related to residents' daily lives.

The 2024 budget proposal will be finalized on December 18 after review by the Gwanak-gu Council.

Mayor Park Jun-hee said, "To actively respond to the crisis in local finances, we prepared this budget proposal through active revenue enhancement efforts such as strengthening the collection of local taxes and non-tax revenues and delinquency activities," adding, "Since this budget was prepared in difficult times, we will overcome these challenges well with the residents through selective and focused financial management."

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