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Seoul city's $35B budget to address birthrate, health and safety issues

Published: 31 Oct. 2024, 17:19 Updated: 31 Oct. 2024, 19:40

Seoul Mayor Oh Se-hoon announces next year's budget plan for the city at City Hall in Jung District, central Seoul, on Thursday. [YONHAP]

The Seoul Metropolitan Government has drawn up an annual budget of 48.4 trillion won ($35.1 billion) for next year, with a fiscal focus on addressing the city's low birthrate and enhancing policies to protect citizens' health and safety.

The 2025 budget plan, which the city government will submit to the Seoul Metropolitan Council for approval soon, focuses on seven sectors involving people's health and safety, including countering the low birth rate.

Other priorities include strengthening the city's economy and care giving sector as well as attracting more overseas travelers.

"With the influence of climate change and complex social changes, it is the Seoul mayor's cardinal responsibility to secure the citizens' health and safety," Seoul Mayor Oh Se-hoon said.

Specifically, the city allocated 1.11 trillion won to provide 4,000 public rental homes to newlyweds and 2,504 for young tenants, as part of efforts to counter the country's low birth rate and encourage births.

The budget plan also includes a program to encourage running, offering inner-city jogging events from 7 p.m. and 9 p.m. on weekdays, along with the addition of 10 "runner stations" across the city.

Yonhap