Gyeonggi Province to Work with Democratic Party of Korea's Gyeonggi Chapter to Overcome Fiscal Crisis, Secure Livelihoods Budget

Gyeonggi Province has decided to work with the Gyeonggi Provincial Party of the Democratic Party of Korea to overcome its fiscal crisis and secure a budget for residents’ livelihoods in 2027.

Hong Eungwang, spokesperson for Gyeonggi Province, said in a written briefing on November 11 that the province held a budget cooperation meeting near the National Assembly on the evening of November 10. The meeting was attended by 38 people, including Gyeonggi Governor Choo Mi-ae, Seo Young-seok, chair of the Democratic Party of Korea’s Gyeonggi Provincial Party, party-affiliated members of the National Assembly, and regional committee chairs who do not hold parliamentary seats.

At the meeting, Governor Choo explained the state of Gyeonggi Province’s fiscal crisis and its structural limitations, and requested support from the party, including reform of the local tax system, to overcome the crisis.

Regarding the drafting of the 2027 main budget, Governor Choo said, “We will mobilize every available means to give top priority to budgets related to life and safety and to vulnerable groups,” outlining a fiscal management policy centered on residents’ livelihoods.

Gyeonggi Provincial Government

Chair Seo explained that Gyeonggi Province faces the unique circumstances of a growing population and rapid entry into a super-aged society, and stressed the urgent need to develop effective local fiscal policies suited to regional conditions.

Chair Seo urged attendees to regard overcoming Gyeonggi Province’s fiscal crisis as “our own concern” and to pool their capabilities.

Gyeonggi Province plans to submit its 2027 main budget proposal to the Gyeonggi Provincial Council soon and explain its budget priorities and key details to residents.

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