Incheon Namdong-gu mayor announces 50.7 billion won financial improvement plan over 4 years on 100th day of inauguration

Marking his 100th day in office, Namdong-gu Mayor Lee Byung-rae of Incheon City announced on the 6th, "We will implement a financial improvement plan worth 50.7 billion won over four years to overcome the worsening financial conditions."

At a press conference held on the 100th day of his inauguration held at the Namdong-gu Office on this day, Mayor Lee announced the results of the financial innovation task force (TF) operation, saying, "Namdong-gu's financial situation is so poor that the financial independence rate this year is only 16.4%."

The district has set a goal of increasing revenue by 34.16 billion won and restructuring expenditures by 16.54 billion won over the four years from next year to 2030.

In the revenue sector, the plan is to secure an additional 4 billion won by establishing a dedicated corporate complaint team and attracting leases and rental cars.

In the expenditure sector, customary current expenses will be checked first, including a decision to save about 1 billion won by conducting a thorough investigation of all types of public facility electricity bill contracts.

In addition, projects that are judged to be overlapping or similar, such as support for postpartum care expenses and parental leave incentives for fathers, will be adjusted after additional review.

The district predicted that a total financial improvement of 50.7 billion won would be achieved through this plan.

District Mayor Lee said, "I felt a sense of crisis that if I didn't bring about change, I would become a district that couldn't do its job properly," and emphasized, "In particular, social welfare costs increased from 60% in 2022 to more than 76% this year, and are expected to exceed 80% by the end of my term."

In addition, regarding this year's Sorae Port Festival, which attracted the largest number of people in history, Mayor Lee said, "The biggest problem is that there is no representative content that comes to mind when you think of the Sorae Port Festival. We will create content that can only be seen at the Sorae Port Festival by incorporating the history of being the birthplace of salt farms and Korean gunpowder and revitalize it as a global festival."