Sokcho City Submits 541.3 Billion Won 2026 Main Budget Proposal to City Council

Securing 200 Billion Won in National and Provincial Subsidies for the First Time Since the City’s Founding
Full Commitment to Revitalizing the Local Economy, Community-Oriented Projects, and Fulfilling Promises to Citizens

Sokcho City in Gangwon Province has launched initiatives to boost the local economy, focusing on the completion of major projects under the 8th popularly elected administration, as well as investing in small-scale, community-based SOC (Social Overhead Capital) projects to enhance citizen welfare and safety.

Lee Byungseon, Mayor of Sokcho, delivering the municipal address during the submission of the 2025 main budget proposal. Provided by Sokcho City

To achieve this, the city has drawn up an unprecedentedly large budget, submitting a 2026 main budget proposal of 541.3 billion won to the city council, which is an increase of 39.2 billion won (7.8%) compared to this year.

The general account stands at 468.3 billion won, up 29.9 billion won (6.83%) from last year, while the special account has been set at 73 billion won, an increase of 9.3 billion won (14.6%) from the previous year.

This accomplishment comes despite ongoing challenging economic conditions both domestically and internationally. Although there are some signs of recovery, the city still faces a shortage of local allocation tax revenues.

To maintain a sound fiscal policy without issuing local bonds, Sokcho City implemented rigorous expenditure restructuring on its own. In addition, by securing extra funding as a result of the city’s designation as a border area-a long-standing effort by Sokcho City-the city has, for the first time since its establishment, secured 200 billion won in national and provincial subsidies based on the main budget.

To fulfill its promises to citizens under the 8th administration, the city has completed the construction of the Veterans’ Hall and the Sokcho Media Center. Remaining projects, including a public postpartum care center, an English library, a comprehensive welfare center for people with disabilities, and the additional installation of hydrogen charging stations, are planned for completion as early as within this year, and by the first half of next year at the latest. The city has also allocated operating budgets for each facility to ensure that citizens can conveniently use these services.

The most notable area is the industry and small and medium-sized enterprise (SME) sector, for which the budget has been significantly increased by 43.55% to 15.6 billion won compared to last year. Investments will be made in expanding the Sokcho Love Gift Certificate budget, increasing support for SME development funds and special guarantees for small business owners, implementing demand-tailored corporate support projects, and providing first-time startup grants.

Additionally, the city has allocated budgets across various sectors to improve citizens’ quality of life, including 209.4 billion won for social welfare (up 3.7%), 18.4 billion won for transportation and logistics (up 13.39%), and 6.3 billion won for education (up 15.58%).

Meanwhile, the city has secured a total of 21 billion won in national funding by being selected for six new projects under the special situation area development program following its designation as a border area. These projects include the creation of Manri Neighborhood Park, improvements to the northern plaza and facilities at Cheongcho Lake Amusement Park, linking Sokcho Beach as a tourism hub, road construction around the planned site for Sokcho Middle School, and enhancements to the alleyscape of Sangdomun Stone Wall Village.

Lee Byungseon, Mayor of Sokcho, stated, "The 2026 main budget proposal focuses on implementing policies that citizens can truly feel, especially as we reach the final year of the 8th administration, to realize the promises made to the people of Sokcho. We will devote all our efforts to ensuring the sustainable development of Sokcho City."

Meanwhile, Mayor Lee Byungseon is scheduled to deliver a municipal address at the 349th Sokcho City Council 2nd regular session’s first plenary meeting on November 28, where he will announce the main policy directions and key tasks included in the 2026 main budget proposal. Sokcho City’s 2026 main budget will be finalized in December through departmental presentations, review by the Special Committee on Budget and Accounts, and a resolution at the plenary session of the city council.

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