Gwangjin-gu Allocates 805.2 Billion Won Budget for 2024... 2.9% Increase

226 Billion Won Increase Compared to This Year, Focused Budget on Urban Development, Welfare, and Field Administration... Welfare Budget 399.8 Billion Won, 49.6% of Total, Creating a Warm Society with Customized Welfare... Thorough Management of District-Specific Projects on Health, Climate Change Response, and Family Happiness

Gwangjin-gu (District Mayor Kim Kyung-ho) has prepared the 2024 budget at 805.2 billion KRW, a 2.9 percent increase compared to 2023. The general account is 755 billion KRW and the special account is 50.2 billion KRW, increasing by 21.8 billion KRW and 0.8 billion KRW respectively, totaling a 22.6 billion KRW increase.

This budget was formulated with the goal of regional development and enhancing residents' happiness through innovative expenditure restructuring such as project consolidation, despite difficult financial conditions due to the challenging economic situation and real estate market downturn.

The district plans to focus on four core areas: ▲urban development ▲community welfare ▲field-centered administration ▲and district-specialized projects such as health, climate change response, and family happiness, continuing to communicate with residents and carry out field-centered administration without disruption next year.

First, the district allocated 16.8 billion KRW to balanced urban development and expansion of social overhead capital (living SOC). It invested 1.2 billion KRW in projects such as Moa Town, Hanyang Apartment reconstruction, and the establishment of the Achasan Station district unit plan, and 15.6 billion KRW in expanding living SOC through constructing additional parking lots, opening Neungdong roads, and creating Gwangjin Square.

To create a city where everyone lives well together, the community welfare sector was carefully managed. A total of 60.5 billion KRW was allocated to create a child-friendly environment through parental allowances, infant care, child allowance support, and postpartum care support. Additionally, 111.7 billion KRW was assigned to basic pensions, senior centers, and elderly welfare centers, and 101.4 billion KRW was set aside for tailored welfare services for vulnerable groups including livelihood benefits, housing benefits, and disability activity support benefits.

Alongside this, careful attention was paid to revitalizing the local economy and creating a safe and clean urban environment. Job projects such as senior jobs and public work received 21.1 billion KRW, and economic revitalization projects including gift certificate issuance, traditional market modernization, and support for the sewing industry were allocated 4.5 billion KRW to respond swiftly to the rapidly changing economic situation. Furthermore, 21.7 billion KRW was invested in creating a safe and pleasant environment through daily garbage collection, underground utility projects, and street vendor management.

New district-specialized projects will also be launched. Health, climate change, and family happiness were designated as the 2024 “Gwangjin Specialized Projects,” with a total of 16.6 billion KRW allocated across 57 projects. In the health sector, 12.1 billion KRW was assigned to 22 projects including eco-friendly meals (5.6 billion KRW), mental health promotion programs (1.3 billion KRW), and dementia support (1.2 billion KRW). The climate change response sector received 3.4 billion KRW for 28 projects including smart shelters (680 million KRW) and heating/cooling support (260 million KRW). The family sector was allocated 1.1 billion KRW for 7 projects including family centers (850 million KRW) and family film festivals and classical music walks (100 million KRW).

By sector, the budget was organized as follows: social welfare, the largest portion, at 399.8 billion KRW; transportation and logistics at 65.1 billion KRW; waste and environment at 40.2 billion KRW; culture and sports at 23.7 billion KRW; health at 18.9 billion KRW; land and regional development at 17.3 billion KRW; education at 16.2 billion KRW; industry and small businesses at 8.7 billion KRW; public order and safety at 7.1 billion KRW; and others at 208.2 billion KRW.

The district will continue to promote a communication budget reflecting residents’ voices. Ten billion KRW was allocated to 13 projects including opening public libraries, creating children’s complex cultural spaces, repairing old sidewalks, and creating barefoot clay paths.

Kim Kyung-ho, Mayor of Gwangjin-gu, said, “Despite difficult financial conditions, we carefully considered resource allocation to make Gwangjin a better place to live. We will do our best to realize ‘Happy Gwangjin that develops through communication’ through strategic and efficient financial management.”

Meanwhile, the 2024 budget will be finalized on December 20 after review by the Gwangjin-gu Council.

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