Gyeonggi Province Compiles Record Budget of 28.79 Trillion Won for 2021

[Suwon Ilbo=Reporter Park No-hun] Gyeonggi Province has compiled a 2021 budget of 28.79 trillion won, an increase of 1.75 trillion won (6.5%) from this year's 27.04 trillion won. This marks the largest main budget scale in history.

Choi Won-yong, Director of Planning and Coordination Office of Gyeonggi Province, held a press conference at the Gyeonggi Provincial Government on the 2nd and announced the 2021 main budget plan, stating, "The budget was compiled based on the core values of the 7th elected provincial administration—a new Gyeonggi and a just world—to prepare for the post-COVID-19 era."

The 2021 budget incorporates plans to prioritize "Building a Just Gyeonggi with Citizens as Protagonists" and focus investment in "Five Priority Areas" to realize the three core values of the 7th elected provincial administration: "justice, peace, and welfare."

The "Five Priority Investment Areas" include ▲Cooperative Gyeonggi with Citizens as Protagonists ▲Welfare Gyeonggi Guaranteeing Life's Basics ▲Just Gyeonggi Overflowing with Innovative Economy ▲Clean Environment, Gyeonggi Worth Living In ▲Safe and Enjoyable Gyeonggi.

□ 2021 Budget Overview

The 2021 budget plan consists of a general account of 24.95 trillion won and a special account of 3.84 trillion won.

Examining the major revenue categories of the general account, the province projects next year's local taxes to be 12.64 trillion won, an increase of 70.3 billion won compared to this year. Dependent revenue sources such as national treasury subsidies will increase by 1.17 trillion won to reach 10.53 trillion won.

Expenditures include administrative operating costs such as personnel expenses of 487.2 billion won, and 1.56 trillion won allocated for financial activities including transfers to the Fire and Safety Special Account and disaster management fund.

Policy projects consist of 6.83 trillion won in statutory expenses including transfers to municipal governments and education offices, 11.98 trillion won in national treasury-subsidized projects, and 2.74 trillion won in independent projects.

By sector, the welfare budget recorded the largest share at 10.92 trillion won, an increase of 826.7 billion won from this year. The economy sector posted the maximum increase of 53.3% (199 billion won), reaching 572.6 billion won, due to expanded issuance of local currency.

In particular, a total of 59.4 billion won has been separately allocated for operation support and functional enhancement of Gyeonggi Provincial Medical Center, a dedicated hospital for infectious diseases, to strengthen the COVID-19 response system.

□ Cooperative Gyeonggi with Citizens as Protagonists

The province reflected 502.8 billion won to realize "Cooperative Gyeonggi with Citizens as Protagonists."

First, 231 billion won will be invested in ▲realizing fair provincial governance through support for youth and workers, and ▲achieving transparent and just provincial governance through human rights protection, gender equality promotion, and support for public interest whistleblowing.

Additionally, 199.3 billion won has been reflected in ▲strengthening autonomous decentralization through collaborative governance between the province and municipalities and ▲realizing direct democracy through expanded citizen participation.

Furthermore, 72.5 billion won will be invested in developing the northern Gyeonggi into a center of peace and prosperity, including development of areas returned by the U.S. military, DMZ-related projects, and establishment of the Gyeonggi International Peace Center.

Representative projects include working youth support (Meister Passbook, Welfare Points, Pension) project (95.3 billion won), USFK donation area support project (28.7 billion won), non-tax revenue and local tax delinquency collection support (12.8 billion won), and youth job interview allowance (10.4 billion won).

□ Welfare Gyeonggi Guaranteeing Life's Basics

A total of 1.20 trillion won has been reflected for building "Welfare Gyeonggi."

First, 7.02 trillion won will be invested in realizing the three major basic welfare policies of the 7th elected administration—postpartum care expenses, free school uniforms, and youth basic income—and "customized welfare programs by life cycle."

Additionally, 3.94 trillion won has been allocated to improve childcare quality through public childcare, strengthen welfare for children and youth, and strengthen public healthcare including COVID-19 response.

In particular, 50 billion won will be invested in the "Small Loan Finance Support Project for Extremely Low Credit Individuals," which was reflected in the first supplementary budget this year and has contributed to economic self-reliance of low-income and low-credit groups. Additionally, 17.6 billion won will be invested in farmer basic income support to guarantee farmers' survival rights and address income inequality.

Furthermore, 1.02 trillion won will be allocated to provide "discrimination-free equal welfare services" to socially vulnerable groups including persons with disabilities, multicultural families, and single-parent families.

Other representative projects include the "Gyeonggi Province Youth Basic Income" (106.4 billion won), a flagship youth policy of the 7th elected administration, youth public transportation fee support project (53.1 billion won), and small loan finance support for extremely low credit individuals in Gyeonggi (50 billion won).

□ Just Gyeonggi Overflowing with Innovative Economy

A total of 1.68 trillion won will be invested in revitalizing the local economy based on fairness and innovation.

First, 396.4 billion won has been reflected for small business owners and struggling self-employed individuals. In particular, 195.3 billion won in local currency-related budget—whose effectiveness has been proven through disaster basic income—will be invested to invigorate the local economy.

Additionally, 137.6 billion won has been allocated to creating a favorable business environment, supporting innovative industries, and creating good jobs, while 1.15 trillion won has been allocated to activate the social economy and sharing economy and strengthen the competitiveness of rural and fishing communities.

In particular, in line with the government's Korean New Deal policy, the province will invest a total of 849.4 billion won in Gyeonggi Province-type New Deal projects to serve as a vanguard in revitalizing the national economy.

Representative projects include local currency issuance support (195.3 billion won), Gyeonggi Province children's health fruit supply (13.5 billion won), Gyeonggi Province public digital SOC construction (10.7 billion won), and Gyeonggi Province public procurement system establishment (6.3 billion won).

□ Clean Environment, Gyeonggi Worth Living In

A total of 3.29 trillion won has been reflected in projects to improve residents' quality of life, including clean environment, stable housing, and convenient transportation.

First, 1.77 trillion won has been allocated to create clean air, clean water, and a clean environment.

Additionally, 158.9 billion won will be invested in stabilizing residents' residential environment through existing housing lease programs and creating pleasant residential environments through Gyeonggi Province-type urban regeneration.

Furthermore, 1.37 trillion won will be spent on improving public transportation systems and expanding transportation infrastructure to promote residents' transportation welfare.

Representative projects include hydrogen and electric vehicle supply support (300 billion won), sewer pipe maintenance project (159.5 billion won), operating vehicle low-emission project (197.4 billion won), and Byeolnae Line double-track electric railway (196.5 billion won).

□ Safe and Enjoyable Gyeonggi

1.04 trillion won has been reflected in sectors guaranteeing basic rights of Gyeonggi Province residents in safety, education, and culture and sports.

First, 460.5 billion won will be invested in creating a safe Gyeonggi that protects residents' lives and property, with reference to the October Ulsan fire case, including reinforcement of firefighting equipment such as high-altitude articulated aerial platforms for enhanced firefighting capabilities for super-high-rise buildings.

Additionally, 387.8 billion won has been reflected for ensuring basic education rights and cultural enjoyment in daily life, while 191.5 billion won will be invested in promoting residents' health through sports activities, with emphasis on improving residents' quality of life.

In particular, to guarantee basic rights for female adolescents, 4.9 billion won will be newly allocated to expand menstrual product support from low-income groups to all female adolescents.

Other representative projects include public library construction support (336 billion won), fire station construction and relocation (30.3 billion won), firefighting equipment reinforcement (29.4 billion won), and happy village management office operation (15.5 billion won).

The province plans to submit the 2021 budget plan to the Gyeonggi Provincial Council on the 3rd. The budget plan will undergo standing committee review from the 20th to 27th, budget and settlement committee review from the 30th to December 11th, and is scheduled for final passage on December 14th.