Kim Dongyeon Welcomes New Administration's 30.05 Trillion Won Supplementary Budget as First Step to Revive People's Livelihood Economy

Kim Dongyeon, Governor of Gyeonggi Province, commented on the supplementary budget of 30.05 trillion won formulated by the Lee Jaemyung administration, calling it "the first step toward reviving the people's livelihood economy" and stating that he "welcomes" the move.

On the 19th, Governor Kim wrote on his social networking service (SNS), "Today, just fifteen days after the launch of the new administration, a supplementary budget of 30.05 trillion won has been formulated," adding, "I welcome the new administration's supplementary budget as the first step to saving the urgent people's livelihood economy."

He continued, "(I have) long advocated for a swift and bold super supplementary budget," explaining, "because fiscal policy is the most effective means to overcome the current urgent economic situation."

A post by Gyeonggi Province Governor Kim Dongyeon on his SNS on the 19th

Governor Kim particularly noted, "It is fortunate that this supplementary budget reflects the stronger and more detailed support for vulnerable groups that I have been emphasizing," and stressed, "Now, speed is of the essence, and there is no time to lose."

He further stated, "The National Assembly must quickly pass the supplementary budget bill, and both the government and local governments must execute it rapidly," promising, "Gyeonggi Province will actively join forces with the new administration's supplementary budget for the people's livelihood, and will proactively and preemptively support efforts to maximize its effectiveness."

He also emphasized, "This weekend, the 'Gyeonggi Revival Big Sale' will be held, which is a discount festival designed to revitalize the stagnant traditional markets and local commercial districts," adding, "Starting with the further expansion of the 'Big Sale,' we will make thorough preparations to ensure that the government’s supplementary budget creates synergy and is implemented with speed."

Earlier on the same day, the government, presided over by President Lee Jaemyung at the Yongsan presidential office, held a Cabinet meeting and approved a supplementary budget totaling 30.05 trillion won, which includes an expenditure increase of 20.2 trillion won and a revenue shortfall of 10.3 trillion won.