Siheung proposes 2.09 trillion-won third supplementary budget, up 7.5%
In short
Siheung city in Gyeonggi Province has drawn up a third supplementary budget of 2.0922 trillion won for this year, 146.7 billion won (7.5%) more than the second supplementary budget, and submitted it to the city council. The plan adds 9.3 billion won for a school complex at Janghyeon 1 Elementary, 3.2 billion won for the Baegot Seoul National University Hospital and 17.9 billion won for the basic pension. The council's 339th extraordinary session opens on Oct 13 to deliberate the budget.
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Siheung city in Gyeonggi Province has compiled a third supplementary budget of 2.0922 trillion won for this year and submitted it to the city council, the city said on Oct 6. The figure is 146.7 billion won, or 7.5%, more than the second supplementary budget of 1.9455 trillion won reported by Yonhap. [ 2 , 4 ]
The budget consists of 1.8440 trillion won in the general account and 248.2 billion won in the special account, according to Asia Economy. The city said it concentrated spending on education, medical care, transport and environment investment projects to build a growth base for a city whose population has surpassed 600,000, as well as on reviving the local economy and strengthening the welfare safety net. [ 2 , 4 ]
On infrastructure, the plan includes 9.3 billion won for a school complex at Janghyeon 1 Elementary, 5.5 billion won for public water surface reclamation at Wolgot, 3.2 billion won in support for building Baegot Seoul National University Hospital and 1.8 billion won for the Maehwa Station construction project. Asia Economy also listed 1 billion won for the Yangdalcheon river improvement, an item not named in the other reports. [ 2 , 4 ]
On welfare, the budget adds 17.9 billion won for the basic pension, 4.1 billion won for the K-pass and The Gyeonggi Pass public transport refund programmes, 2.8 billion won for infant and toddler childcare, 1 billion won for youth basic income and 200 million won for birth congratulation payments. Asia Economy additionally reported 5.2 billion won for housing benefits and 4.2 billion won for activity support for people with severe disabilities. [ 2 , 4 ]
Mayor Lim Byeong-taek said the city would keep pushing core projects that form the foundation of its growth as a large city despite difficult financial conditions, adding that it would also work to revive the sluggish local economy and protect residents' safety and daily lives. [ 2 , 4 ]
The budget plan is scheduled to be deliberated at the 339th Siheung city council extraordinary session, which opens on Oct 13. Yonhap described the plan as the second supplementary budget of the current mayoral term. [ 2 , 4 ]
Why it matters
The plan sets out Siheung's spending priorities for the rest of the year: the city says it wants to keep core growth projects moving while expanding welfare payments as its population passes 600,000. The budget has not been approved yet, so the final figures and items may change in the council review.
Key facts
- Siheung city compiled a third supplementary budget of 2.0922 trillion won, 146.7 billion won (7.5%) more than the second supplementary budget. [ 2 , 3 , 4 ]
- The budget consists of a general account of 1.8440 trillion won and a special account of 248.2 billion won. [ 2 ]
- The city said it focused the budget on education, medical, transport and environment investment projects, local economic recovery and a stronger welfare safety net. [ 2 , 4 ]
- Infrastructure items include 9.3 billion won for the Janghyeon 1 Elementary school complex, 5.5 billion won for Wolgot public water surface reclamation, 3.2 billion won for Baegot Seoul National University Hospital and 1.8 billion won for Maehwa Station. [ 2 , 4 ]
- Welfare items include 17.9 billion won for the basic pension, 4.1 billion won for the K-pass and The Gyeonggi Pass transit refunds, 2.8 billion won for infant childcare and 1 billion won for youth basic income. [ 2 , 4 ]
- The city council's 339th extraordinary session is due to open on Oct 13 to deliberate the budget. [ 2 , 4 ]
- Mayor Lim Byeong-taek said core projects for metropolitan growth would continue without interruption despite difficult finances. [ 2 , 4 ]
Confirmed by several sources
- Siheung city compiled a third supplementary budget of 2.0922 trillion won, up 146.7 billion won or 7.5% from the second supplementary budget. [ 2 , 3 , 4 ]
- The budget was submitted to the Siheung city council. [ 2 , 4 ]
- The city said the plan concentrates on education, medical, transport and environment investment projects, along with local economic recovery and welfare. [ 2 , 4 ]
- The 339th Siheung city council extraordinary session opens on Oct 13 to review the budget. [ 2 , 4 ]
- Mayor Lim Byeong-taek said core projects serving as the foundation for the city's growth as a large city would be pushed forward without interruption. [ 2 , 4 ]
Still unclear
- The housing benefit of 5.2 billion won, severe disability activity support of 4.2 billion won and Yangdalcheon river improvement of 1 billion won appear only in Asia Economy's report. These allocations are reported by a single outlet and are not confirmed by the other documents.
- Newsis's article body covers a police investigation into hacking of financial institutions, not the Siheung budget, while its headline reports the budget submission. The document's body text does not match its headline, so its budget coverage could only be read from the headline.
- Whether the city council will approve the budget as proposed. The documents say only that the plan will be deliberated from Oct 13 and do not report any outcome.
What local media are saying
Timeline, local time
- Siheung city submits the third supplementary budget to the city council, according to Asia Economy. [ 2 ]
- Kukmin Ilbo publishes the first of the documents' reports on the budget plan. [ 1 ]
- Asia Economy publishes details of the plan and its allocations. [ 2 ]
- Newsis reports the submission and the 7.5% increase in its headline. [ 3 ]
- Yonhap reports the plan and the mayor's remarks. [ 4 ]
- The 339th Siheung city council extraordinary session is due to open to deliberate the budget. [ 2 , 4 ]