Gangwon-do Allocates 7.2389 Trillion Won in 2nd Supplementary Budget... Focus on 'Livelihood Stability and Future Industries'

Full 200 Million Won Cut from Provincial Assembly Member Overseas Travel Expenses and General Contingency Funds

Gangwon Provincial Government

[Asia Economy Reporter Ra Young-cheol] Gangwon Province has prepared a supplementary budget of 7.2389 trillion won, an increase of 482.1 billion won from the 6.7568 trillion won already approved by the provincial council for the second supplementary budget this year, and submitted it to the provincial council on the 26th.

According to the province on the 27th, this supplementary budget focuses on early recovery of the local economy and stabilization of residents' lives due to the prolonged COVID-19 pandemic, as well as promoting the 4th Industrial Revolution and improving the regional industrial structure to secure future industries after COVID-19.

The main investment items include ▲1.163 trillion won for local economic recovery and livelihood and employment stabilization ▲1.9 billion won for realizing a peace economy that grows together with the region ▲41.3 billion won for building a welfare foundation to respond to low birthrate and aging ▲13.9 billion won for enhancing residents' safety and quality of life.

For fostering future advanced industries, the budget includes ▲20.6 billion won for creating new growth engines ▲8.7 billion won for accelerating online digitalization of the regional economic structure ▲94 billion won for realizing a global tourism and cultural city reflecting trend changes ▲107.8 billion won for revitalizing agricultural, mountain, and fishing villages.

In particular, 9.9 billion won was allocated for the development of a prototype UAM (drone taxi) in Gangwon Province, and 3 billion won for the hydrogen electric vehicle distribution project, emphasizing the promotion of the 4th Industrial Revolution and improvement of the regional industrial structure.

Additionally, 7.1 billion won for the Hope Work Support Project, 5.8 billion won for promoting the distribution of Gangwon gift certificates, and 4.9 billion won for supporting the Regional Balanced Development Special Account will focus on stabilizing the residents' economy.

In the international culture and arts sector, 49.9 billion won was allocated for the construction of the Gangwon International Exhibition and Convention Center, 4.9 billion won for creating a smart green city, and 3.9 billion won for establishing a cultural city.

Furthermore, statutory expenses include 28 billion won for the education office’s statutory transfers and 2.5 billion won for financial support to the Gangwon Development Corporation.

However, the entire 200 million won for overseas travel expenses of provincial council members and 22.1 billion won of general contingency funds were reduced to invest in urgent current projects.

Choi Moon-soon, Governor of Gangwon Province, said, "This supplementary budget will revitalize the local economy weakened by COVID-19, stabilize livelihoods, and serve as a cornerstone to prepare for securing future industries after the COVID-19 crisis."

This content was produced with the assistance of AI translation services.