Urgent.News

What's breaking now, across thousands of outlets.

World

서울시, 2조8061억원 2차 추경…주거·청년 지원 확대

Original Korean Read in English

Seoul City allocated 2.8061 trillion won in the second supplementary budget this year. The budget responds to citizens' declining economic perception due to increased youth unemployment, rising housing prices, and last year's mandatory financial needs. On October 10th, Seoul City submitted the "2026 Second Supplementary Budget" to the Seoul City Council.

The budget size is 5.2% of the existing budget of 53.7674 trillion won, increasing Seoul City's budget to 56.5735 trillion won if passed. Among the total budget, 1.8698 trillion won, or 66.6% of the total, is mandatory spending based on last year's settlement. Seoul City allocated 8100 billion won from the available resources to the areas of livelihood, growth, and safety.

The city highlighted the necessity of the budget due to the recovery trend of the macroeconomic indicators, but still difficult youth unemployment and housing cost burden. For housing stability, 1076 billion won is allocated by increasing the public rental housing purchase by 130 billion won and extending the housing allowance from 34.7 million households to 36.4 million households with 440 billion won.

For 19-39 year old youth, the real estate commission fee and moving cost support is extended by 6 billion won, increasing the support target from 8,000 to 10,000 people. In the welfare area, household allowance is increased by 2221 billion won to reflect the increase in the standard of living due to the change in the middle-income threshold.

The modernization of Seoul Central Hospital and the expansion and functionality improvement of Nam District Hospital are also increased by 48 billion won and 76 billion won respectively. Support for AI usage by 50,000 youth is provided with 56 billion won for the first quarter of this year. Seoul City plans to include the remaining 9 months of this year's budget in a pilot project for next year.

For electric vehicles, 403 billion won will be allocated for purchase support and expanding charging infrastructure. The replacement of the 6th and 7th subway lines with electric cars is funded by 177 billion won, and the construction and expansion of rainwater pumps is supported by 72 billion won. The target for medical expense support for women over 35 who are pregnant is increased from 20,000 to 28,000.

This budget, which is the first budget of Oh Se Hoon's 5th term, is notable as the Seoul City Council will review it after the Social Democratic Party, which holds a majority of seats, conducts detailed deliberation. According to the Local Autonomy Law, the Seoul City budget is prepared by the mayor and submitted to the City Council for approval, where it undergoes a preliminary review by the Special Commission on the Preliminary Review and a comprehensive review by the Budget Special Commission before being voted on in the main meeting.

Written by urgent.news from Hankyoreh's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at hani.co.kr →

More in World

More from Monday 10 August →