Goyang City Allocates 3.7063 Trillion Won for Second Supplementary Budget Plan

Increased by 280.9 Billion Won Compared to First Supplementary Budget
Focus on Citizen Safety Including Flood Damage Restoration
City's Share of Livelihood Recovery Coupon Issuance: 13.5 Billion Won
Initial Funding Covered by Integrated Fiscal Stabilization Fund Loan

Goyang Special City in Gyeonggi Province (Mayor Lee Donghwan) announced that it submitted the second supplementary budget plan for 2025, totaling 3.7063 trillion won, to the city council on August 22.

A view of Goyang Special City Hall. Provided by Goyang Special City.

The total size of the supplementary budget has increased by 280.9 billion won (8.2%) compared to the first supplementary budget (3.4254 trillion won). By account, the general account increased by 237.8 billion won (8.3%), and the special account increased by 43.1 billion won (7.7%).

The city explained that, considering the challenging financial conditions, it minimized allocations for new projects and focused on funding additional needs for ongoing projects and essential safety-related expenses.

Among the main items, 3.9 billion won was allocated for the restoration of public facilities such as roads, parks, and rivers that were damaged by the record-breaking heavy rain on August 13, which reached up to 121mm per hour. Including 1.2 billion won from the disaster management fund, a total of 5.1 billion won will be invested as a priority to prevent inconvenience to citizens and secondary damage.

Additionally, for citizen safety projects, the city allocated 2.1 billion won for additional installation of entrance-blocking facilities at underpasses, 1.5 billion won for the Tanhyeon stormwater runoff reduction facility project, 1.5 billion won for the reconstruction of Jangjin 2 Bridge, and 700 million won for seismic reinforcement work on Gahwa Bridge.

Other items included the issuance of livelihood recovery consumption coupons, securing special grants and special adjustment grants in the first half of the year, and adjustments to national and provincial subsidy projects.

Key budget items include 172.9 billion won for the issuance of livelihood recovery consumption coupons, 800 million won for the construction of a pedestrian path along Hyangdongcheon (Deogeun District), 1 billion won for lighting improvement work at Goyang Sports Town, and 1.44 billion won for temporary special support for youth monthly rent.

Of these, the city's share of the cost for issuing livelihood recovery consumption coupons is 13.5 billion won. Given the lack of available resources, the city plans to cover this amount through loans from the Integrated Fiscal Stabilization Fund as a first measure.

However, due to the difficult financial situation, the shortage of resources is likely to require the issuance of local bonds in the future, which is expected to place a significant long-term burden on fiscal management.

A city official stated, "National projects requiring large-scale city funding are inevitably a heavy burden amid chronic revenue shortages," adding, "We will pursue sustainable fiscal management by reducing the budget through project reviews."

Meanwhile, this supplementary budget plan is scheduled to be reviewed and voted on at the 297th temporary session of the Goyang Special City Council, which will be held from September 1 to 15.

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