Gangnam-gu, Seoul, approves the first supplementary budget of 47.8 billion won for the 9th popular election
Quick Look
- Gangnam-gu, Seoul announced that the first supplementary budget for the 9th popularly elected election was approved by the district council at approximately 47.8 billion won.
- Accordingly, this year's Gangnam-gu budget amounted to KRW 1.5822 trillion, an increase of approximately 3.1% from the existing budget.
- This supplementary budget was financed by applying the '3 budget principle', and explained that 22.7 billion won would be invested in the welfare and social safety net, 4.3 billion won in life safety, 1.2 billion won in reconstruction and future industries, and 700 million won in expansion of cultural and leisure spaces.
AI-generated summary
Why It Matters
Gangnam-gu in Seoul announced its financial management plan by organizing the first supplementary budget since the launch of the 9th popularly elected election.
Gangnam-gu, Seoul (Chief Kim Hyun-gi) announced on the 23rd that the first supplementary budget for the 9th popularly elected district council was approved at approximately 47.8 billion won.
Accordingly, Gangnam-gu's budget this year was KRW 1.5822 trillion, an increase of approximately 3.1% from the established budget (KRW 1.5344 trillion).
In this supplementary budget, we reexamined the existing budget by applying the '3 budget principle', which states that the budget is not used for projects that are unnecessary, have unclear purposes, or have unclear effects.
The district explained that the financial resources raised through this were invested in resident welfare and safety, reconstruction support, and future infrastructure.
Looking at the supplementary budget, a total of 22.7 billion won will be invested in the 'welfare and social safety net' fields, such as Gangnam-type youth real estate brokerage remuneration and moving cost support, expansion of child allowance and parental benefit support, and welfare for the disabled.
Approximately 4.3 billion won was reflected in the 'life safety' field and 1.2 billion won in the 'reconstruction and future industry' field.
A project to expand cultural and leisure spaces is also being promoted. 700 million won was allocated for ▲ Creation of Daemosan Geulmaru Cultural Forest ▲ Feasibility study on the creation of Maebong Forest Recreational Path ▲ Remodeling of the Yangjaecheon Yeongdong 3 Bridge performance hall ▲ Installation of night lighting at Tancheon Park Golf Course.
Open Questions
- What is the detailed execution plan for the supplementary budget?
- What are the specific application criteria for the 3-dollar budget principle?
