Gyeongsan City Sets Second Supplementary Budget at 1.5779 Trillion KRW... Up 86.5 Billion KRW from First, No Change in Special Account

Gyeongsan City (Mayor Cho Hyunil) announced on August 25 that it had submitted the second supplementary budget proposal for this year to the city council on August 22. The proposed budget amounts to 1.5779 trillion KRW, an increase of 86.5 billion KRW (5.8%) compared to the first supplementary budget of 1.4914 trillion KRW.

By accounting type, the general account was set at 1.4005 trillion KRW, up 86.5 billion KRW from the original budget, while the special account remains unchanged at 177.4 billion KRW.

Gyeongsan City Hall Exterior View

This supplementary budget focuses on revitalizing local consumption and economic recovery, allocating a one-point supplementary budget for the distribution of livelihood recovery consumption coupons and the additional issuance of Gyeongsan Love Gift Certificates.

The main sources of revenue are increased local tax income and national and provincial subsidies. The allocated projects include 78.4 billion KRW for livelihood recovery consumption coupons and 8.1 billion KRW for the issuance of Gyeongsan Love Gift Certificates.

A Gyeongsan City official stated, "We urgently prepared this supplementary budget to provide livelihood recovery consumption coupons, aiming to stimulate stagnant consumption and invigorate the local economy through government policy support," adding, "We will do our utmost to ensure prompt and seamless distribution so that the economic stimulus effects can be felt in a timely manner."

The second supplementary budget proposal for 2025 is scheduled to be reviewed at the 264th Gyeongsan City Council extraordinary session, which will begin on September 1, and is expected to be finalized on September 9.

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