Jeonnam Province Secures Over 200 Billion Won in Government Supplementary Budget

Response to Employment Shocks in Industrial Crisis Areas and Six Other Projects
Kim Yungrok: "Responding to Public Welfare Stability and Regional Economic Recovery"

Jeonnam Provincial Government Office Building Exterior

On May 2, Jeonnam Province announced that, following the passage of the 13.8 trillion won government supplementary budget for public welfare by the National Assembly, it has secured 239.4 billion won for seven projects related to the province.

This supplementary budget was allocated to expand disaster response resources, support trade and artificial intelligence (AI), and provide public welfare assistance.

Regional projects include: ▲ Installation of safety facilities at Muan and Yeosu airports (including Dundeok stream design, bird surveillance radar installation, and other facility improvements) to strengthen aviation safety and respond to passenger plane crash disasters (3.56 billion won); ▲ Agricultural, fishery, and livestock product discount support to promote consumption of these products (170 billion won).

Additionally, the budget includes: ▲ Inorganic fertilizer price subsidies and supply stabilization support (planned at 5.5 billion won) to reduce management cost burdens for farmers due to rising agricultural input prices; ▲ Support for the issuance of local gift certificates (planned at 26 billion won) to promote local consumption and increase income for small business owners and the self-employed; ▲ Response to employment shocks in industrial crisis areas (5 billion won) to stabilize employment in Yeosu National Industrial Complex, where employment instability is spreading.

It is analyzed that, in the case of the government’s public welfare supplementary budget, strategic responses during the National Assembly’s review phase were key to securing high regional benefits for Jeonnam Province, such as inorganic fertilizer price subsidies and agricultural, fishery, and livestock product discount support, even though regional projects were initially excluded from consideration.

Kim Yungrok, Governor of Jeonnam Province, stated, "Although it is regrettable that the budget related to regional industries, such as responding to the petrochemical industry crisis, is somewhat insufficient, we have established a basis for support through supplementary opinions (strengthening support for preemptive response in industrial crisis areas)." He added, "We will keep all possibilities open, including preparations for the government's second supplementary budget, and make every effort to expand public welfare and regional economic recovery."