Third supplementary budget of 2026 set at 2.09 trillion won, submitted to city council
Siheung City submitted its third supplementary budget proposal for 2026, totaling 2.09 trillion won ($1.54 billion), to the Siheung City Council on Friday.
The proposal represents a 146.7 billion won, or 7.5 percent, increase from the second supplementary budget, comprising 1.84 trillion won in general accounts and 248.2 billion won in special accounts.
According to the city, the budget was drawn up with a focus on laying the groundwork for sustainable urban growth beyond a population of 600,000, promoting investment across education, healthcare, transportation and the environment, while also supporting the local economy and improving residents' quality of life.
Key infrastructure projects include 9.3 billion won for the construction of a multi-use school complex at Janghyeon Elementary School No. 1, 5.5 billion won for reclamation of public waters in Wolgot, 3.2 billion won to support construction of Seoul National University Hospital in Baegot, 1.8 billion won for the Maehwa Station construction project, and 1 billion won for the Yangdalcheon stream improvement project.
To revive the local economy and strengthen the social safety net, the city also increased allocations for basic pension benefits by 17.9 billion won, housing benefits by 5.2 billion won, activity support for people with severe disabilities by 4.2 billion won, public transit fare rebate programs — including K-Pass and The Gyeonggi Pass — by 4.1 billion won, infant and toddler childcare fees by 2.8 billion won, youth basic income by 1 billion won, and birth congratulatory grants by 200 million won.
"Even under difficult fiscal conditions, we will push forward without interruption on the core projects that lay the foundation for this city's growth as a major urban center," Siheung Mayor Lim Byeong-taek said. "We will also pour our full efforts into revitalizing the sluggish local economy and safeguarding the safety and daily lives of our residents, so that we can deliver balanced city governance."
The third supplementary budget proposal is set to be finalized at the 339th extraordinary session of the Siheung City Council, which opens Oct. 13.
pjh@heraldcorp.com
