Seoul: The Seoul city government has unveiled an annual budget of 48.41 trillion won (US$35.12 billion) for 2025, marking a 5 percent increase from the previous year. This financial plan prioritizes addressing the city’s low birth rate and enhancing health and safety measures for its citizens.
According to Lao News Agency, the 2025 budget plan, which is set to be submitted to the Seoul Metropolitan Council for approval, concentrates on seven key sectors, with a particular emphasis on countering the low birth rate. The plan also aims to fortify the city’s economy, boost the caregiving sector, and attract more international visitors.
Seoul Mayor Oh Se-hoon highlighted the necessity of ensuring citizens’ health and safety amidst the challenges posed by climate change and evolving social dynamics. In this context, the city has allocated 1.11 trillion won to offer 4,000 public rental homes for newlyweds and 2,504 for young tenants, as part of efforts to address the declining birth rate and promote family growth.
Additionally, the budget includes initiatives to encourage physical activity, such as organizing inner-city jogging events on weekdays between 7 p.m. and 9 p.m., and establishing 10 new “runner stations” throughout the city.