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Gwangju City sets 2021 budget at 6.2817 trillion won, the largest ever

광주시, 2021년 예산 6 2817억원 편성…역대 최대 규모

Gwangju City sets 2021 budget at 6.2817 trillion won, the largest ever

Gwangju City has planned for a 6.28 trillion won budget for 2021. This is the highest amount ever and was a 10% increase compared to this year's budget. Our Jongmin Kim reports.

Gwangjus budget plan for 2021 summed up to almost 6.3 trillion won, which is 10 percent larger than this years budget. Projects include the AI-centered Industrial Complex Creation, as well as the 2nd line of the subway construction, and many other projects.

The move is aimed at reviving the sluggish local economy caused by Covid-19. The 2021 budget focused on the needs for citizens, including job projects, despite the difficult financial conditions due to the pandemic. The budget is to be finalized through deliberation by the city council and will be executed as soon as possible. The city plans to submit the 2021 budget bill to the Gwangju City Council on the 11th.

According to the budget status of each sector, the largest portion will be allocated for the social welfare and health department, receiving about 39%, while the economic sector and the transportation and logistics sectors expanded significantly.

In detail, Gwangju city secured 70 billion won of Disaster Support Funds to be distributed for small-business owners of stores affected by social distancing guidelines.

Also, some 90 billion won will be allocated for major future-oriented projects involving green energy, clean air industry cluster, and future cars. It also aims to make cities more resilient to climate change and to help companies and facilities go greener

However, Jeonnam will increase its budget to 9.2 trillion won next year, up 12.7% from this year, with a primary focus on boosting its future growth engine and the blue economy plan

Gwangjus budget plan for 2021 summed up to almost 6.3 trillion won, which is 10 percent larger than this years budget. Projects include the AI-centered Industrial Complex Creation, as well as the 2nd line of the subway construction, and many other projects.

The move is aimed at reviving the sluggish local economy caused by Covid-19. The 2021 budget focused on the needs for citizens, including job projects, despite the difficult financial conditions due to the pandemic. The budget is to be finalized through deliberation by the city council and will be executed as soon as possible. The city plans to submit the 2021 budget bill to the Gwangju City Council on the 11th.

According to the budget status of each sector, the largest portion will be allocated for the social welfare and health department, receiving about 39%, while the economic sector and the transportation and logistics sectors expanded significantly.

In detail, Gwangju city secured 70 billion won of Disaster Support Funds to be distributed for small-business owners of stores affected by social distancing guidelines.

Also, some 90 billion won will be allocated for major future-oriented projects involving green energy, clean air industry cluster, and future cars. It also aims to make cities more resilient to climate change and to help companies and facilities go greener

However, Jeonnam will increase its budget to 9.2 trillion won next year, up 12.7% from this year, with a primary focus on boosting its future growth engine and the blue economy plan

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