Siheung City Allocates 1.9454 Trillion Won Supplementary Budget, Focusing on Livelihood, Welfare, and Citizen Safety

First Supplementary Budget of the 9th Administration Set at 1.9454 Trillion Won
Mayor Lim Byeongtaek: "A Catalyst for Economic Recovery"
Increase of 99.2 Billion Won from the First Supplementary Budget
Key Investments in Oil Price Relief and Flood Prevention

Siheung City, Gyeonggi Province (Mayor Lim Byeongtaek), has drawn up its first supplementary budget of the 9th popular election, totaling 1.9454 trillion won. The city will concentrate its fiscal resources on revitalizing the local economy, supporting vulnerable groups, and strengthening citizen safety.

A view of Siheung City Hall. Provided by Siheung City

Siheung City announced on July 14 that it had submitted the 2nd supplementary budget proposal to the Siheung City Council on July 13. This supplementary budget amounts to 1.9454 trillion won, an increase of 99.2 billion won (5.4%) compared to the 1st supplementary budget of 1.8462 trillion won. The general account is set at 1.7108 trillion won, and the special account is set at 234.6 billion won.

This supplementary budget focuses on supporting citizens and the local economy, which are struggling due to the prolonged period of high interest rates, high inflation, and high oil prices—referred to as the "three highs." In addition, funds have been allocated to projects that address welfare blind spots and enhance disaster response capabilities.

The largest portion of the budget, 44.1 billion won, has been allocated to oil price damage relief payments. This is followed by 10 billion won for parental benefits, 6.1 billion won for public transportation fare reimbursement programs, 5.2 billion won for oil price subsidies for the transportation industry, and 2.4 billion won for home-based long-term care benefits for the elderly. These allocations are aimed at stabilizing livelihoods and reinforcing the welfare safety net.

Investments to enhance citizen safety have also been expanded. The city allocated 900 million won to install automatic flood barriers in rivers prone to flooding, 400 million won to create safe school routes, and 100 million won to expand disaster warning and alert facilities. These efforts are part of a plan to strengthen the response system against heavy rainfall and various disasters.

Mayor Lim Byeongtaek stated, "We will work closely with the city council so that this supplementary budget, which has been drawn up despite difficult fiscal conditions, can serve as a catalyst to reinvigorate the stagnant local economy."

This 2nd supplementary budget proposal is scheduled to undergo review and approval at the 337th temporary session of the Siheung City Council on July 21, after which it will be finalized.

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