Gyeongnam Province Submits First Supplementary Budget Proposal of 552.9 Billion Won to Assembly This Year

COVID-19 Response, Livelihood Economy Recovery, Welfare for Vulnerable Groups, and Fostering New Growth Engine Industries

Gyeongnam Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Se-ryeong] Gyeongsangnam-do has submitted the first supplementary budget proposal worth 552.9 billion KRW to the provincial council.

The province stated that the supplementary budget was prepared to urgently respond to the government’s supplementary budget and to promote the recovery of the local economy, including support for small business owners, with the total budget amounting to 11.8831 trillion KRW including this supplementary budget.

It was reported that tailored support will be provided in various sectors such as damage to small and medium-sized enterprises, welfare support for vulnerable groups, prompt response to the enforcement of the Serious Accidents Punishment Act, and strengthening the safety net for residents.

Gyeongnam Province allocated 158 billion KRW to respond to the economic crisis of small business owners and SMEs, including issuance of local love gift certificates in cities and counties, management stabilization funds for SMEs, small-scale business environment improvement for small business owners, and financial support for intercity bus companies.

The budget also includes living support expenses for COVID-19 infected and quarantined patients, income stabilization funds for corporate taxi and bus drivers, temporary special support for youth monthly rent, and COVID-19 overcoming forest support vouchers.

18 billion KRW was allocated for the operation of labor safety and health guardian groups to prevent industrial accidents, and 146.3 billion KRW will be invested in operating living treatment centers, providing rapid antigen test kits for vulnerable groups, local quarantine job projects, temporary support for COVID-19 response personnel at public health centers, and modernization of facilities and equipment at Masan Medical Center.

Additional budget was allocated for crime prevention measures such as installation of CCTV and emergency bells in public restrooms, maintenance of disaster-risk areas, road widening and paving, maintenance of road facilities, improvement of winding roads, installation and management of sewage systems, and replacement of fire trucks, ambulances, and firefighting equipment.

722 billion KRW will be invested to support welfare for vulnerable groups including medical expense support for medical aid recipients, service support such as activity assistance for the disabled, family care support for children with disabilities, and support for people with developmental disabilities.

Plans will also be pursued for child care support projects, child protection agencies, independence settlement funds for children aging out of care, youth after-school academies, youth job-seeking activity allowances, and youth rental housing supply projects.

444 billion KRW will be invested in fostering future growth industries in Gyeongnam, including local investment promotion subsidies, domestic return enterprise investment subsidies, construction of the Tongyeong hydrogen transportation complex base, establishment of an aviation MRO industrial complex, full-cycle technology support to improve durability of hydrogen electric vehicle parts, and creation of a 5G-based next-generation smart factory regulatory free zone.

540 billion KRW will be invested in agriculture, forestry, marine, and livestock sectors for projects such as the Saemangeum New Deal 300 project, “Making Islands Livable” project, maintenance of fishing port facilities, drainage improvement including installation of agricultural land drainage pump stations, support for export logistics costs of agricultural products, water development projects to prepare for drought, and installation of quarantine facilities to prevent the inflow of African swine fever.

The submitted supplementary budget proposal will be finalized on the 25th after review by the provincial council starting on the 16th.

Acting Governor Ha Byung-pil said, “The budget was prepared focusing on overcoming COVID-19, revitalizing the local economy, and strengthening the safety net for residents,” adding, “We will strive to ensure that it is promptly executed where it is most needed.”

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