Gimhae City Draws Up First Supplementary Budget of the Year Totaling 2.519 Trillion Won

Gimhae City in Gyeongnam has drawn up its first supplementary budget proposal for this year, totaling 2.519 trillion won, and submitted it to the city council.

This represents an increase of 230.3 billion won compared to the original budget of 2.2887 trillion won. The general account has increased by 193.1 billion won to 2.0775 trillion won, while the special account has increased by 37.2 billion won to 441.5 billion won.

The city explained that the focus of this supplementary budget is on supporting the livelihoods of citizens struggling with high inflation and high interest rates, strengthening protection for vulnerable groups, building sustainable urban infrastructure, and ensuring timely progress on major pending projects.

Gyeongnam Gimhae City Hall. Photo by Se Ryeong Lee

Key allocations in the proposal for social welfare projects include: 27.5 billion won for basic pension payments, 4.5 billion won for senior job creation and social activity support, 3.8 billion won for operation of home-based elderly welfare facilities, 2.8 billion won for disability activity support, 1.6 billion won for medical fund creation, 1.1 billion won for child meal support, 1 billion won for operation of elderly medical welfare facilities, 800 million won for childcare support for single-parent families, and 700 million won for infant and toddler care fee support.

For revitalizing the local economy, additional allocations include: 6 billion won for the construction of a knowledge industry center, 3.3 billion won for contributions to the small and medium enterprise development fund, 2.6 billion won for establishing a super-safe digital twin technology support center and equipment, 2 billion won for a hydrogen liquefaction plant test bed, 1.8 billion won for next-generation high-efficiency power semiconductor infrastructure, 1.5 billion won for small business support funds and interest subsidies, and 700 million won for small business support such as alleyway business revitalization, Gimhae Sarang gift certificate issuance commission support, and integrated shopping mall operation.

For urban infrastructure development, the budget includes: 10 billion won for construction of the Chojung?Hwamyung wide-area road, 5.5 billion won for financial support for unprofitable city bus routes, 3 billion won for buffer treatment facilities at the Gimhae Daedong Advanced General Industrial Complex, 900 million won for public transportation fare reimbursement (K-Pass), and 700 million won for creating a cultural and happy industrial complex.

In addition, increased allocations have been made for major pending projects such as: 7.6 billion won for new administrative welfare centers (Jinyeong-eup, Juchon-myeon), 2.8 billion won for resource circulation facility modernization, 2 billion won for rural theme park development, 1.9 billion won for expansion of the sewage treatment facility in Hallim Sammi Village, 1.3 billion won for improvement of the Idong natural disaster risk area, and 300 million won for self-learning development support for third-year high school students.

Mayor Hong Taeyong stated, "With citizens' perceived economic conditions significantly weakened due to high inflation and economic slowdown, this supplementary budget has been focused on revitalizing the local economy, especially by supporting socially disadvantaged groups and small business owners. Once finalized, we will ensure swift execution to inject vitality into the local economy."

This supplementary budget proposal will be finalized if approved at the 272nd Gimhae City Council extraordinary session, which will be held from July 14 and is scheduled for a vote on July 24.