Yeongju Allocates 1.1871 Trillion Won for First Supplementary Budget of the Year

An Increase of 85.1 Billion Won from the Original Budget
Focus on Culture, Tourism, and the Local Economy

Yeongju City has allocated a total of 1.1871 trillion won for the first supplementary budget for 2025, aiming to revitalize the local economy and improve the quality of life for its citizens. The budget proposal was submitted to the Yeongju City Council on May 1.

This supplementary budget focuses on financial measures to stabilize livelihoods and address key local issues, despite challenging fiscal conditions such as the ongoing economic downturn, reduced national tax revenue, and a decrease in government grants. The city strategically allocated limited resources based on sound fiscal management, even under a tightened financial policy.

The proposed supplementary budget totals 1.1871 trillion won, an increase of 85.1 billion won or 7.72% compared to the original budget of 1.102 trillion won.

By accounting type, the general account increased by 79.57 billion won (7.97%) to 1.07767 trillion won, while the special account rose by 5.52 billion won (5.32%) to 109.42 billion won.

In terms of general account expenditure by sector, the largest increases were seen in culture and tourism (15.6 billion won), agriculture, forestry, marine and fisheries (11.7 billion won), land and regional development (11.6 billion won), public order and safety (10.3 billion won), social welfare (9.6 billion won), industry, small and medium enterprises and energy (6.4 billion won), and general public administration (6 billion won).

Major projects include: 8.1 billion won for the Hyocheon 2-dong New Village Project; 4.7 billion won for Yeongju Love Gift Certificate discount compensation; 3.8 billion won for the creation of a sports complex; 3.4 billion won for crop disaster insurance support; 3 billion won for the Ugokcheon River disaster prevention project; 2.9 billion won for Yeongju Dam leisure sports facilities; and 1.8 billion won for compensation for land incorporated into the Local Vitality Town project.

Lee Jaehun, Acting Mayor of Yeongju, stated, "Despite difficult fiscal conditions such as the ongoing economic downturn and reductions in national subsidies, we have concentrated available resources as much as possible on projects to stabilize livelihoods and revitalize the local economy." He added, "We will continue to work closely with the city council to ensure the budget is smoothly reviewed and approved."

This first supplementary budget proposal is scheduled to be reviewed and finalized at the 292nd temporary session of the Yeongju City Council, which will take place starting May 9.

Yeongju City Hall.

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