Gyeongnam to Provide 100,000 Won Living Support Fund to All Residents, Fully Funded by Provincial Budget Without Local Bonds

by Lee Seryeong

Published 19 Mar.2026 12:11(KST)

Gyeongsangnam-do will provide the "Gyeongnam Residents' Living Support Fund" to alleviate the increased living expenses faced by residents due to the prolonged Middle East conflict and subsequent rise in prices.

On March 19, Governor Park Wansu stated at the provincial government press center, "Since the launch of the 8th popularly elected administration, Gyeongnam's economy has shown remarkable growth in key macroeconomic indicators such as economic growth rate and Gross Regional Domestic Product (GRDP). However, with the ongoing situation in the Middle East, high oil prices, a strong dollar, and high interest rates are increasing the burden across all industries in the province. At the same time, rising prices are causing a sharp decline in consumer sentiment, worsening the people's livelihoods."

He added, "In order to prevent the recently revitalized Gyeongnam economy from stalling, I have determined that active fiscal support is necessary and have thus decided to provide the Gyeongnam Residents' Living Support Fund."

Governor Park Wansu of Gyeongsangnam-do is announcing the plan for the payment of the residents' living support fund. Photo by Se-ryeong Lee

The total budget for the Residents' Living Support Fund is 328.8 billion won, which will be funded entirely by the provincial government without issuing local bonds.

The province emphasized that this was made possible by maintaining a sound fiscal policy, reducing unnecessary expenditures by discontinuing ineffective or overlapping projects, and curbing overall spending.

Governor Park explained, "By adhering to a sound fiscal policy, the 8th administration has reduced debt by 370 billion won compared to 2022, the year it was launched. This has enabled us to secure the capacity to provide the Residents' Living Support Fund without incurring additional debt."

The province plans to include the support fund in a supplementary budget to be submitted to the provincial council on March 23.

Governor Park stressed, "Although an election is approaching, many residents are facing hardships due to the Middle East crisis, and the local consumer economy is stagnating. As governor, it is my duty to care for residents' livelihoods, regardless of the upcoming election."

He continued, "It is crucial to prevent residents' lives from becoming more difficult. As governor, looking after the wellbeing of 3.3 million residents is a fundamental responsibility, and I can confidently speak to anyone about the decision to provide this support fund."

Gyeongnam Province Residents Living Support Fund Payment Details and Application Method Guide Plan. Photo by Se-ryeong Lee

As of March 18, the province will provide 100,000 won per person in living support funds to all residents registered in Gyeongnam, including foreign marriage migrants and permanent residents.

Residents of Namhae County, who have been receiving a monthly rural basic income of 150,000 won since the first half of this year, and citizens of Geoje City, who received a recovery support fund of 100,000 won per person at the end of last year, are also eligible.

The province considered targeted payments based on income, but ultimately opted for universal distribution as it could not obtain comprehensive property and income data for all residents from the central government.

Residents can choose to receive the support fund as either a local gift certificate or a prepaid card.

The fund can be used in the city, county, or district of the resident's registered address. Applications can be made by visiting the relevant town, township, or neighborhood community center, or online.

The application period runs from May 1 to June 30, and the funds can be used until July 31.

The province will operate a civil service call center and an "on-site application service" to provide guidance on the application process and usage procedures.

Governor Park stated, "The reason for the province's existence is to protect residents' lives in times of crisis. I sincerely hope that the Residents' Living Support Fund will help ease the burden of living expenses for residents and serve as a valuable catalyst to revitalize the local economy."