Jeonbuk Province Prepares 2nd Supplementary Budget of 564.3 Billion Won

Focus on Rapid Support for Livelihood Recovery and Overcoming COVID-19

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced that it has prepared a second supplementary budget worth 564.3 billion KRW, focusing on the government's Win-Win National Support Fund and additional support for livelihood stabilization, and submitted it to the provincial council on the 24th.

By account, 564 billion KRW was allocated to the general account and 300 million KRW to the special account.

As a result, the total budget scale of Jeollabuk-do in 2021 reached 9.9077 trillion KRW, marking the largest scale ever.

Specifically, following the full provincial funding of the 'Jeollabuk-do Emergency Disaster Relief Fund,' which provided 100,000 KRW per person to all residents in May, half of the local government’s share of the government’s 'Win-Win National Support Fund' was also covered by provincial funds to ease the burden on cities and counties and ensure prompt execution.

Additionally, support was focused on various economic actors such as low-income groups, transportation industry workers, small business owners, and vulnerable groups to help restore the daily economy of residents.

Furthermore, Jeonbuk Province explained that the plan includes public projects such as building a collaborative foundation related to mid-sized and small electric vehicle industries and urgent projects, reflecting a post-COVID-19 strategy including the reorganization of Jeollabuk-do’s industrial map.

Kang Seung-gu, Director of the Provincial Planning and Coordination Office, said, “We will do our best to ensure that the projects included in the supplementary budget can be executed on-site immediately after the provincial council’s budget approval on September 10, following thorough prior consultation with cities and counties.”

Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr