Gyeongnam's First Supplementary Budget for 'Middle East War Response' Passed by Provincial Council ... 100,000 Won to Be Paid to All Residents

The Gyeongnam Provincial Council has passed this year's first supplementary budget proposal for Gyeongsangnam-do, which includes a "Gyeongnam Residents' Living Support Fund" designed to respond to the aftermath of the Middle East war.

On April 16, the council held the second plenary session of its 431st extraordinary session and approved the first supplementary budget plan for Gyeongsangnam-do for 2026.

The approved budget amounts to 14.8247 trillion won, an increase of 539.7 billion won (3.8%) compared to this year's original budget.

Of this, 328.8 billion won has been allocated for the "Gyeongnam Residents' Living Support Fund," which provides 100,000 won per resident.

Gyeongnam Provincial Council.
Photo by Se-ryeong Lee

To revive the weakened consumer sentiment caused by the Middle East war and to ease the financial burden on residents, the province has allocated the entire support fund budget from its own funds, without issuing local bonds.

Residents can apply for the support fund from April 30 to June 30 via the "Gyeongnam Residents' Living Support Fund" website or by visiting their local Eup, Myeon, or Dong Administrative Welfare Center.

Recipients can choose among local gift certificates, prepaid cards, or credit cards as the payment method for the support fund.

The support fund can be used at traditional markets and small businesses within the resident's registered district. However, it cannot be used at department stores, large discount stores, entertainment establishments, or businesses with annual sales exceeding 3 billion won.

Additionally, the province has allocated 50 billion won from its contingency funds in the supplementary budget to cover its share of the "High Oil Price Damage Support Fund." This fund is distributed by the central government, as part of a war-related supplementary budget, to the bottom 70% of income earners nationwide, with Gyeongnam Province covering the portion for its own residents.

Previously, Governor Park Wansu commented on the provision of the Residents' Living Support Fund, saying, "Although the election is approaching, many residents are struggling due to the Middle East crisis and the local economy is stagnating. As governor, it is my duty to look after the livelihoods of residents, and I cannot neglect their situation simply because an election is near."

He continued, "It is natural for the governor to take care of the livelihoods of 3.3 million residents, so I can confidently speak to anyone about the support fund. I sincerely hope that the Residents' Living Support Fund will help alleviate the financial burden on residents and serve as a valuable catalyst to inject new vitality into the stagnating local economy."

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