Gimcheon Allocates 1.52 Trillion Won Supplementary Budget for Livelihoods and Local Economic Revitalization

Increase of 88 Billion Won
Focus on High Oil Price Support, Gimcheon Love Gift Certificates, and Future Industry Investment

Gimcheon City in North Gyeongsang Province has submitted its first supplementary budget proposal for 2026 to the city council, totaling 1.52 trillion won. This represents an increase of 88 billion won (6.15%) compared to the original budget.

Panorama of Gimcheon City Hall [Photo by Gimcheon City]

This supplementary budget focuses on reviving the local economy and supporting residents’ livelihoods. By including funding for compensation to offset high oil prices and support for issuing Gimcheon Love Gift Certificates, the city aims to reduce the financial burden on citizens and boost local consumption.

The city will also expand practical, everyday projects such as support for city gas supply pipelines and the construction of a water park at the Youth Theme Park. In addition, key initiatives to secure future growth engines—such as the full reconstruction of the Hwanggeum Water Purification Plant and the establishment of a general industrial complex for automobile tuning—will receive concentrated budget allocations.

Baek Nakho, Mayor of Gimcheon, stated, "We have focused the budget on projects that are essential for stabilizing people’s livelihoods and addressing local issues," adding, "As soon as the budget is finalized, we will execute it quickly to ensure that citizens can feel tangible results."

The first supplementary budget proposal for 2026 will be finalized after being reviewed at the special session of the Gimcheon City Council, which will be held from July 20 to July 30.

The effectiveness of the budget will depend on how quickly and tangibly it is executed on the ground, rather than just its size.

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