Gyeonggi Province Passes First Supplementary Budget, Up 1.62 Trillion Won

High Fuel Price Relief Grants Account for 1.13 Trillion Won

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By Son Dae-sun
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Photo courtesy of Gyeonggi Province - Seoul Economic Daily Society News from South Korea
Photo courtesy of Gyeonggi Province

Gyeonggi Province's first supplementary budget of the year cleared the Gyeonggi Provincial Council on Wednesday. The total size reached 41.6799 trillion won, an increase of 1.6222 trillion won from the original main budget of 40.0577 trillion won. The general account grew by 1.6119 trillion won, while the special account rose by 10.3 billion won.

According to Gyeonggi Province, the supplementary budget focuses on supporting the livelihood economy, easing transportation cost burdens, stabilizing farm management, and assisting vulnerable groups. In particular, the budget reflects a large-scale "livelihood economy breakwater" allocation to support residents struggling with high fuel prices and inflation.

Among the key items, high fuel price relief grants accounted for the largest share at 1.1335 trillion won. The package also includes 12.3 billion won for maternal and newborn health care support, 1 billion won for veterans' honor allowances, and 3.6 billion won for universal sanitary product support for female adolescents, bringing total livelihood support spending to 1.1504 trillion won.

The budget also expanded spending to secure residents' mobility rights. A total of 149.2 billion won was reflected, including 63.4 billion won for metropolitan area transfer discount support and 85.8 billion won for the expansion of "The Gyeonggi Pass." Gyeonggi Province plans to use the funds to boost public transit usage and ease living cost burdens for residents.

Support measures for farm management stability were also included. The package totals 1.3 billion won, comprising 700 million won for tax-exempt fuel support for farmers and fishermen, 400 million won for compensation related to feed suspected of African swine fever contamination, and 200 million won for rice straw vinyl used in forage production. Gyeonggi Province explained that it extended support to areas excluded from central government assistance.

In addition, 4.5 billion won was allocated to address blind spots for vulnerable groups, including 2.7 billion won in emergency welfare support for households in crisis, 1.7 billion won for fact-finding surveys on tax delinquents, and special hot-weather cooling cost support for women's, single-parent, and children's facilities.

"The budget approved today will serve as an important pillar in reviving the struggling livelihood economy and protecting residents' lives," Gyeonggi Governor Kim Dong-yeon said at the 390th extraordinary session of the Gyeonggi Provincial Council. "We will accelerate execution and ensure completeness so that the central government's supplementary budget leads to tangible results on the ground."

Original reporting by Son Dae-sun for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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