"1.4 Million Won for a Family of Four: This City Grants 350,000 Won Per Person Ahead of Chuseok"
Tongyeong City and City Council Agree on 350,000 Won Per Person Payment
Total Budget of 40.9 Billion Won to Be Finalized at Plenary Session on August 14
Tongyeong City in South Gyeongsang Province will provide a livelihood recovery grant of 350,000 won to all citizens ahead of the Chuseok holiday.
On August 5, the city government and city council reached a final agreement to set the amount of the "Tongyeong-type Livelihood Recovery Grant," the first major livelihood policy since the launch of the 9th elected administration, at 350,000 won per person.
Initially, the city government reviewed a plan to provide 330,000 won per person, while the city council considered a 300,000 won per person proposal. Both bodies agreed on the need to maximize support for citizens while ensuring fiscal sustainability, and continued discussions over several sessions. After thoroughly assessing the scale of the Integrated Fiscal Stabilization Fund, the city's financial situation, and the outlook for key future projects, a revised budget plan to provide 350,000 won per person was submitted.
The total budget required for the grant amounts to 40.9 billion won. Of this, 34.9 billion won will come from the Integrated Fiscal Stabilization Fund, with the remaining 6 billion won sourced from general funds. The grant will be provided to 116,353 individuals who, as of April 15, held an address in the city—this includes citizens, foreign permanent residents, and marriage immigrants.
The ordinance bill serving as the basis for the grant, along with the supplemental budget bill, have passed preliminary review. If approved at the city council plenary session scheduled for the 14th, the plan will be finalized. Once the process is complete, the city intends to establish detailed plans regarding eligible recipients, application periods, and payment methods, and begin distributing the grant before Chuseok.
Hot Picks Today
"Everyone Was Traveling Abroad"... Why Did Travel Agencies' Operating Profits Plunge by 40%?
- "Why Hire Employees? Earning 14 Billion Alone... Number of Single-Person Companies Doubled in Two Years"
- "Worked All Day for $20, Had to Prepare Diapers Because No Bathroom Breaks" - Exploitation of Working Holiday Makers in Australia Exposed
- "It's Haeundae, So What?" "But Not at the Supermarket" -- The Intensifying 'Bikini Debate'
- It Was Like Buying a New Car and Sending It to the Junkyard... Kim Wonhoon's Total SK Hynix Buy: At What Price Did He Invest?
Sukjoo Kang, Mayor of Tongyeong, stated, "I hope this will provide practical support to citizens and invigorate the local economy amid challenging economic conditions. With this agreement as a new starting point, we will continue to work with the city council in a spirit of mutual respect and cooperation to pursue policies that benefit the lives of our citizens."
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
