Chairperson Shin Sujeong of Gwangju Council Urges City to Present Solutions for Overcoming Fiscal Crisis

Expressing Concerns Over Local Government Bonds Issued Without Clear Principles
Need for a Thorough Review of the Master Plan for Future Transformation

Shin Sujeong, Chairperson of Gwangju Metropolitan Council, is declaring the closing of the 333rd extraordinary session on the 30th. Photo by Gwangju Metropolitan Council

On June 30, Shin Sujeong, Chairperson of the Gwangju Metropolitan Council, delivered a closing address at the 333rd extraordinary session, expressing concerns about the issuance of local government bonds without clear principles and urging solutions for key municipal issues, including overcoming the fiscal crisis.

Chairperson Shin strongly criticized Gwangju’s indiscriminate practice of issuing local government bonds and called for fundamental measures to restore fiscal soundness. Currently, Gwangju’s debt exceeds 2 trillion won, the highest level in the country, with each citizen bearing more than 1.4 million won in debt.

Chairperson Shin stated, “It is impossible to overcome the fiscal crisis by relying on rolling over debt through local government bonds,” and emphasized, “We must present urgent solutions for overcoming the fiscal crisis, including the repayment of local government bonds.”

She particularly stressed the importance of swift and responsible execution of the supplementary budget, and requested thorough support for small business owners, self-employed individuals, youth, the elderly, and socially vulnerable groups.

Chairperson Shin also referred to the town hall meeting presided over by President Lee Jaemyung on June 25, expressing her support for the formation of a pan-government task force to resolve the military airport relocation issue. However, she expressed regret over Gwangju’s lack of strategic planning that failed to seize this opportunity, and emphasized the need for thorough preparation and a reassessment of the master plan for Gwangju’s future transformation.

Meanwhile, regarding the rejection of the request to reconsider the amendment to the Gwangju Urban Planning Ordinance, she stated, “We will cooperate with the executive branch to seek balanced urban development plans that resonate with citizens.”

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