Kim Dongyeon: "New Government's Supplementary Budget Is a 'Lifeline' for Livelihoods... Will Ensure Synergy"

Gyeonggi Province Governor Dongyeon Kim has expressed his determination to do his utmost to swiftly implement projects so that the supplementary budget pursued by Gyeonggi Province and the new government can serve as a "lifeline" for people's livelihoods and create synergy effects.

On the 10th, Governor Kim made these remarks while presiding over the "New Government Supplementary Budget Response and Livelihood Economy Inspection Meeting" at the Gyeonggi Provincial Government Office.

The meeting was held to share the current status of the government's supplementary budget execution, including livelihood recovery consumption coupons, and to prepare additional measures at the Gyeonggi Province level to address the blind spots of government policies.

Regarding the new government's confirmation of a supplementary budget of 31.8 trillion won, Governor Kim said, "The new government has taken the first step toward livelihood recovery and normalization of fiscal policy in a swift manner," and evaluated it as "very timely."

He added, "Since the end of last year, I have been advocating for a supplementary budget of around 30 trillion won, and at the New Year's press conference, I also said that an 'oxygen mask' and 'emergency transfusion' are needed for the Korean economy and people's livelihoods. Gyeonggi Province will do its best to care for the lives of its residents and the people by creating synergy in line with this."

Governor Kim instructed the heads of departments to "proactively and meticulously support so that the effects of the supplementary budget can be felt by residents and invigorate livelihoods," and to "actively discover and promote Gyeonggi Province's own livelihood recovery projects that can create synergy with the supplementary budget."

In particular, regarding the livelihood recovery consumption coupons, he emphasized, "Since speed is important, please ensure there are no setbacks in processing applications for the livelihood recovery consumption coupons and provide guidance so that residents do not experience confusion. Please provide thorough and easy-to-follow instructions so that even those not familiar with reading can use them immediately, and focus on demand-driven rather than supplier-driven approaches to stimulate consumption where needed."

He continued, "The HimnaeGO Card for small business owners, which we are proactively promoting, is reportedly being expanded by the Ministry of SMEs and Startups into the Biz Plus Card. It is highly encouraging that the central government is adopting a policy initiated by Gyeonggi Province and expanding it nationwide."

Previously, the Ministry of SMEs and Startups announced a policy to expand Gyeonggi Province's HimnaeGO Card for small business owners, which can be used up to 5 million won per business, into the Biz Plus Card with a maximum usage limit of 10 million won.

Gyeonggi Province Governor Dongyeon Kim is presiding over the "New Government Supplementary Budget Response and Livelihood Economy Inspection Meeting" at the Gyeonggi Provincial Government Office on the 10th. Provided by Gyeonggi Province

The second supplementary budget of the new government for this year amounts to a total of 31.8 trillion won and includes large-scale investments aimed at economic stimulus and stabilization of livelihoods.

During the meeting, the "livelihood recovery consumption coupon" was discussed as a practical livelihood support measure that residents can tangibly experience. Out of the total project budget of 13.9 trillion won, Gyeonggi Province is expected to receive 3.1 trillion won from the central government and 350 billion won in local funds, for a total of 3.45 trillion won.

Gyeonggi Province will establish and operate a dedicated task force (TF) to ensure the swift and smooth distribution of the livelihood recovery consumption coupons, which will begin accepting applications and distributions on the 21st. The task force will be led by the First Vice Governor for Administrative Affairs, with the Welfare Bureau in charge, and will consist of 20 members divided into five teams responsible for overall project management, execution control, and on-site response, among other tasks.

In addition, as the government will provide national funding support for local gift certificates up to an annual maximum of 29 trillion won, Gyeonggi Province plans to raise the maximum recharge amount for Gyeonggi local currency to 2 million won and increase the discount rate from the current 6% to 7-10%.

Furthermore, the province will pursue a plan to combine the use of discount coupons by linking the government's five major consumption-boosting coupon support programs?accommodation, movie viewing, sports facilities, art exhibitions, and performing arts?with the "Gyeonggi LIFE Platform."

The Gyeonggi LIFE Platform is a project that selects 100,000 people each month and provides cultural consumption discount coupons worth up to 25,000 won per person for movies, performances/exhibitions, sports, and tourism.