Gwangmyeong City Increases Next Year's Main Budget by 18.8% to 1.3471 Trillion Won

273.6 Billion Won Focused Investment in Basic Society, Carbon Neutrality, Local Autonomy, and Livelihood Economy
Park: "Strategic Budget Allocation to Improve Citizens' Lives and Strengthen Future Competitiveness"

Gwangmyeong City in Gyeonggi Province announced on November 13 that it has submitted its main budget proposal for next year to the city council, totaling 1.3471 trillion won, an 18.8% increase compared to this year.

The city explained that, in line with the government’s key national policy initiatives, it has focused financial resources on four core areas-basic society, carbon neutrality, local autonomy, and the livelihood economy-while streamlining unnecessary projects to ensure efficient and sustainable fiscal management.

By sector, the city will prioritize a total investment of 273.6 billion won: 50.1 billion won for basic society, 146 billion won for carbon neutrality and garden city initiatives, 27.8 billion won for local autonomy, social economy, and lifelong learning, and 49.7 billion won for the livelihood economy and job creation.

In the basic society sector, to strengthen citizens’ fundamental rights in daily life such as care, transportation, healthcare, and housing, the budget includes: 6.6 billion won for basic income, 22.7 billion won for basic care, 16.1 billion won for basic transportation, 400 million won for basic housing, 2.7 billion won for basic education, 1.5 billion won for basic healthcare, and 100 million won for basic society policies.

To address the climate crisis and expand sustainable green infrastructure, the city has allocated 9.8 billion won for carbon neutrality, 15.2 billion won for urban forest trail creation, 10.7 billion won for garden city development, 1.5 billion won for promoting urban agriculture, 8.7 billion won for ecosystem protection and clean energy transition, and 100.1 billion won for the circular economy.

For strengthening the foundation of local community self-reliance in the areas of local autonomy, lifelong learning, and social economy, the budget includes: 7.8 billion won for local autonomy, 11.7 billion won for lifelong learning, 6.6 billion won for expanding library services, 1.4 billion won for revitalizing the social economy, and 300 million won for community asset development.

To support small business owners and SMEs and create jobs, the budget proposal includes: 31.6 billion won for job creation projects, 12.6 billion won for local currency, 2.4 billion won for revitalizing local commercial districts, 1.6 billion won for SME development, and 900 million won for startup support.

Park Seungwon, Mayor of Gwangmyeong, stated, "This budget concretizes the city’s vision of realizing a 'basic society and sustainable city.' We will strategically allocate financial resources to make tangible improvements in citizens’ lives and enhance the region’s future competitiveness."

The budget proposal for next year is expected to be finalized next month after review and approval by the city council.

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