Incheon City and Districts to Share Livelihood Recovery Coupon Project Costs at 60:40 Ratio

Incheon City announced on the 22nd that it has reached an agreement with the 10 district and county governments to share the local funding required for the Livelihood Recovery Consumption Coupon Project at a ratio of 60% for the city and 40% for the districts and counties.

This arrangement reduces the financial burden on the basic local governments compared to the 11 other metropolitan cities and provinces, which share the cost equally at a 50:50 ratio.

With a population of 3.02 million, Incheon City has secured 720 billion KRW in national funding, which accounts for 90% of the total 800 billion KRW project budget for the Livelihood Recovery Consumption Coupon Project. Of the remaining 80 billion KRW, the city will cover 48 billion KRW, while the districts and counties will cover 32 billion KRW.

The city distributed the first round of national funding to the districts and counties on the 18th to ensure the smooth issuance of the coupons. Additionally, it plans to allocate a supplementary budget for the second round of payments through a local bond issuance in September.

Incheon Mayor Yoo Jungbok and the heads of 10 district and county local governments held a policy meeting on the 21st. Incheon City

An official from Incheon City stated, "Although there were limits to securing available resources after completing the final settlement supplementary budget last month, we decided to share the cost of the Livelihood Recovery Consumption Coupon Project at a 60:40 ratio, taking into account the difficult financial conditions of the districts and counties."

Meanwhile, Incheon City and the 10 district and county governments held a "Mayor, District and County Heads Policy Meeting" on the 21st and agreed to jointly strengthen the care environment by sharing the cost of the "I Plus Gilleo Dream" project, a key Incheon-style birth policy, equally at a 50:50 ratio starting next year.

The I Plus Gilleo Dream project is a support policy designed to fill care gaps that occur during child-rearing. The main features include expanding services to up to 1,040 hours for families in need of care, providing supplementary care during evenings and weekends, and offering free lunches during school vacations to children at risk of missing meals.

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