Yeongwol-gun Submits 638.8 Billion Won for 3rd Supplementary Budget... "Pledge to Proceed Without Delay"

Opaque Investment Project Cost Cuts... Responding to Rapid Government Fiscal Execution

Yeongwol County Office

[Asia Economy Reporter La Young-cheol] Gangwon Yeongwol-gun announced on the 16th that it has submitted the 3rd supplementary budget proposal amounting to 638.8 billion KRW, which is 12.4% (70.3 billion KRW) higher than the initial budget, to the county council to promote pledge projects following the launch of the 8th elected administration.

The county plans to link this supplementary budget with county policies, including the smooth promotion of major pledge projects, securing project funds in response to the government’s supplementary budget in June, and proactively reflecting design costs for large-scale new investment projects for next year.

Furthermore, after the 2nd supplementary budget, the county incorporated newly added or changed national and provincial subsidy projects and increased project costs due to inflation, and only included self-funded projects (county funds) that can be executed by the end of the year to respond to the government’s rapid fiscal execution drive in the second half of the year.

Additionally, the county will boldly cut investment project costs that are uncertain to be executed within the year due to changes, cancellations, or suspensions of project plans among the already allocated budget, and organize the budget focusing on the minimum statutory expenses necessary for fiscal management in the second half of the year. The proposal will be reviewed at the county council’s extraordinary session starting on the 26th.

A county official stated, "We will ensure that this supplementary budget is approved as originally planned to smoothly promote the pledge projects of the 8th elected administration, improve the welfare of residents, and advance urgent current projects."

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