Yongin City Under Financial Strain Reviews Establishing Yeouido Office

Yongin City, facing financial difficulties, is reviewing the establishment of a Yeouido office as a means to secure government funding support.

According to Yongin City on the 14th, the city applied for central and provincial government funding totaling 682.1 billion won (including 62.5 billion won in provincial funds) for 394 projects in 2015.

However, considering the government's financial circumstances, securing the applied central and provincial government funding is expected to face difficulties.

If central and provincial government funding cannot be secured, major projects including the "Samga-Daechon Road," an alternative route project for National Route 42, as well as the "Singal-Suji Road Expansion Construction," "Boseong-Guseong Station Connector Road Construction," and "Yongin Citizens Sports Park Development Project" face the prospect of being discontinued or delayed in succession.

In response, Mayor Jung Chan-min recently instructed the establishment of a Yongin office in Yeouido, Seoul.

This is intended to establish a foothold for securing central and provincial government funding through smooth communication with the central government and the National Assembly, while also grasping the trends of central ministries related to the region.

The city is weighing whether to establish a separate office in Yeouido or operate a task force team that handles functions without a physical office.

In the case of establishing a Yeouido office, approximately 500 million won in annual operating costs would be incurred, so the city plans to make a decision after carefully reviewing cost-effectiveness relative to the investment.

A city official said, "The mayor plans to directly visit government ministries and the National Assembly to explain the necessity of the project and the need for government funding support, and the city is concentrating all administrative resources on securing central and provincial government funding, including granting civil service credit points to officials who contribute to securing this funding."

Yongin City has been struggling with financial difficulties, having conducted a private investment project for the Yongin Light Rail Transit based on incorrect demand forecasts and losing in legal disputes, resulting in paying 850 billion won in compensation to the project operator, while suspending or shelving various projects.