Jeonbuk Secures 311.8 Billion Won for 13 Projects in Government Supplementary Budget

Jeonbuk Special Self-Governing Province announced that 311.83 billion won in national funding was included in this year's government supplementary budget.

Jeonbuk Special Self-Governing Province Government Office Exterior View

원본보기 아이콘

The province stated on April 13 that a total of 13 projects were reflected in the supplementary budget passed by the National Assembly plenary session on April 10, and that the final secured amount could further increase depending on the allocation of the overall budget by each ministry and the outcome of public contest applications in the future.

This supplementary budget, totaling 26.2 trillion won, was finalized as originally proposed following deliberations by the National Assembly. Jeonbuk focused on securing funds in response to high oil prices and for industrial investment, achieving notable results.

The largest portion of the secured budget, 247.1 billion won, has been allocated for compensation to those impacted by high oil prices. Approximately 1,418,000 people in the bottom 70% income bracket will each receive between 100,000 and 600,000 won. The first round of payments will begin on April 27 for vulnerable groups such as basic livelihood security recipients, the near-poor, and single-parent households, and will later be expanded to other eligible recipients.

In the future industry sector, 60 billion won was included for the Regional Growth Fund. Although this project, with a total budget of 100 billion won, initially faced difficulties due to changes in the public contest requirements, the province and lawmakers worked together to secure the funding. The secured resources will be invested in fostering local startups and creating jobs.

During the National Assembly's deliberation, 500 million won was included for establishing a strategic planning service for the "K-Robot Physical AI Demonstration and Sharing Center," marking the official launch of a project to build a robot industry infrastructure with a total budget of 218 billion won.

Additionally, 1 billion won for energy vouchers, 850 million won for electric cargo truck supply support, and 700 million won for K-Pass public transportation fare refunds were included to help alleviate living expenses. Furthermore, 400 million won was allocated for coastal cargo ship fuel costs and national subsidy route deficit compensation, and 540 million won for subsidies including inorganic fertilizer price support, strengthening assistance for agriculture and fisheries. In the welfare sector, 470 million won was allocated for care workforce support, 180 million won for local children's center vehicle fuel costs, 30 million won for senior physician recruitment, and 60 million won for food security program operations.

With the supplementary budget finalized, Jeonbuk Province plans to immediately review implementation plans for each project and commence administrative procedures.

Governor Kim Kwan-young stated, "We will do our utmost to ensure that all secured funds act as a priming force for restoring livelihoods and provide real support to the residents by executing the budget swiftly."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.