Jeonnam Provincial Assembly Passes 13.857 Trillion Won Supplementary Budget, Accelerating Unified Special City Preparations

Budget Allocated for High Oil Price Assistance and Administrative Integration

The Jeonnam Provincial Assembly is accelerating preparations for administrative integration by passing a supplementary budget ahead of the launch of the Jeonnam-Gwangju Unified Special City.

On June 12, the Jeonnam Provincial Assembly held the second plenary session of the 399th extraordinary meeting, where it addressed major agenda items, including supplementary budget bills for Jeonnam Province and the Provincial Office of Education.

The second supplementary budget for Jeonnam Province, approved at this session, amounts to 13.857 trillion won, an increase of 474.4 billion won over the original budget. The first supplementary budget for the Jeonnam Provincial Educational Expenses Special Account was also finalized at 4.942 trillion won, up by 501 billion won.

Jeonnam Provincial Assembly view.

The supplementary budgets include significant allocations for stabilizing livelihoods, revitalizing the local economy, and preparing for administrative integration.

Major initiatives include 285.5 billion won in compensation for damages caused by high oil prices, 11.2 billion won to support the creation of jobs tailored to local industries, and 3.8 billion won for promoting the Jeonnam-Gwangju administrative integration. The Provincial Office of Education’s budget also includes 23.8 billion won for operating Special Educational Development Zones and 1.7 billion won for preparing for educational administration integration.

Tae-gyun Kim, Chairperson of the Jeonnam Provincial Assembly, stated, "We deliberated on the agenda items with a heavy sense of responsibility, given that this is essentially the last regular session before the launch of the Jeonnam-Gwangju Unified Special City."

He added, "This supplementary budget includes projects to provide stable support for administrative integration and high oil price assistance to lessen the financial burden on residents. Timely execution of these fiscal measures is crucial for a smooth transition to administrative integration and for injecting new vitality into the regional economy."

With the approval of this supplementary budget, Jeonnam Province is expected to not only establish a financial foundation for the launch of the Unified Special City but also respond more swiftly to the local economic challenges caused by high oil prices and other factors.

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