15 Billion Won Increase for the Petrochemical Industry, Totaling 5.2 Billion Won
Support Measures for Overcoming the Aviation Accident Crisis in the Tourism Industry
Jeollanam-do announced that among the new government’s supplementary budget for people’s livelihoods, totaling 32 trillion won and passed by the National Assembly plenary session on July 4, 2,042 billion won has been allocated to 12 key local projects.
The new government’s supplementary budget for people’s livelihoods was formulated to use government finances as a priming pump to secure momentum for economic recovery.
Projects related to the Jeollanam-do region include three SOC projects such as the second phase of the Honam High-Speed Railway, totaling 146 billion won, a 10 billion won operating grant for the Korea Energy Engineering University (KENTECH), and 6 billion won to support facility improvements at dried seaweed processing plants. This is similar to the previous government’s proposal, and the National Assembly’s review focused mainly on policy projects suggested by both parties.
Despite the challenging circumstances in which the National Assembly review excluded local key projects, Jeollanam-do achieved meaningful results, including securing 5.2 billion won for regional industry crisis response support for the petrochemical industry?an increase of 1.5 billion won over the original government proposal of 3.7 billion won?and laying the groundwork for the implementation within the year of tourism industry support to overcome the aviation accident crisis (as per the National Assembly’s supplementary opinion), although some regrets remain.
Jeollanam-do also noted that this is a crucial period as the 2026 government budget review is set to begin in earnest. The province plans to reorganize its strategies for securing national funding together with cities and counties, and, led by Governor Kim Yungrok, will make every effort by closely coordinating with the Ministry of Economy and Finance, central government agencies, and local National Assembly members.
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