Hwaseong-si Next Year's Main Budget Confirmed at 3.5027 Trillion Won... 9.98% Increase Compared to This Year

Social Welfare Budget Increased by 66.3 Billion Won to 1.2558 Trillion Won
Mayor Jeong Myeong-geun: "Will Implement Expansionary Fiscal Policy to Restore People's Livelihood and Economy"

The budget for next year in Hwaseong-si, Gyeonggi-do, has been finalized at 3.5027 trillion won. This is an increase of 317.7 billion won (9.98%) compared to this year.

Hwaseong-si announced on the 16th that the next year’s main budget proposal of this scale was passed at the regular city council meeting.

The next year’s main budget is composed of 3.1187 trillion won in the general account and 384 billion won in the special account. The main revenue budget of the general account includes local taxes amounting to 1.465 trillion won, an increase of 14.99% compared to this year, and self-generated revenue increased by 194 billion won (13.58%).

The general account expenditure budget increased by about 9.59% compared to the previous year. The city explained that despite difficult financial conditions due to ongoing high inflation and high interest rates causing economic recession, the budget was expanded to support the recovery of the people’s economy.

By sector, the social welfare budget was increased by 66.3 billion won from the previous year to 1.2558 trillion won. The city added that it focused on welfare budgets for socially vulnerable groups by allocating ▲basic pension 235.7 billion won ▲infant care fees 127.1 billion won ▲parental allowance for infants 94.9 billion won, among others.

In the economic sector, the city allocated 45.6 billion won in issuance support funds to issue local currency worth 509 billion won, the largest scale nationwide, and 12.1 billion won to support small and medium-sized enterprises and small business owners, focusing the budget on the recovery of the people’s economy. The agriculture, forestry, fisheries, and marine sector was allocated 299.2 billion won, including ▲free meal support 41.7 billion won ▲basic public payment system 23.9 billion won ▲Gyeonggi-do farmers’ basic income support 18.2 billion won.

The city especially secured new project budgets to secure future new growth engines, including ▲Hwaseong-type RE100 basic income village support ▲renewable energy convergence support ▲autonomous driving living lab infrastructure establishment. New projects such as ▲worker uniform laundry operation ▲taxi night operation activation support ▲Hwaseong-type integrated home care for the elderly were also reflected in next year’s budget.

In addition, the city announced that the citizen safety insurance support and public taxi loss compensation support projects for public transportation underserved areas were budgeted at the largest scale nationwide.

Jung Myung-geun, mayor of Hwaseong-si, said, "Despite difficult financial conditions, we have prepared an expansionary fiscal budget centered on policies for the recovery of the people’s economy and revitalization of the local economy." He added, "Next year, the first year of the special city status, is an important time to prepare for the city’s future, and we will do our best to ensure smooth budget execution."

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