Gyeonggi Province has formulated its main budget for 2026, totaling 39 trillion won.
On November 3, Gyeonggi Province announced that it has set the budget for next year at 39.9046 trillion won, an increase of 1.1825 trillion won (3.1%) compared to this year, and has submitted it to the Gyeonggi Provincial Council.
The budget for next year is focused on operating finances boldly and strategically within limited resources to revive the sparks of economic recovery and improvement in residents' livelihoods. Gyeonggi Province currently faces challenging fiscal conditions. Revenue growth is slowing, while essential expenditures for welfare, care, and safety continue to rise.
Nevertheless, Gyeonggi Province explained that in order to consistently fulfill the core role of public finance, this budget plan focuses on bringing about tangible changes that residents can feel, centering on four pillars: the local economy, future growth, care and safety, and regional development and balanced growth.
To support the recovery of the local economy, Gyeonggi Province will inject a total of 119.4 billion won to assist small business owners and self-employed individuals struggling with high inflation and high interest rates. This budget will be used to stimulate consumption and revitalize local commercial districts through projects such as the modernization of traditional markets, compensation for losses from special guarantee programs, support for micro-businesses, the “HimnaeGO Card,” the “Gyeonggi Revitalization Big Sale,” and “agricultural and marine products discount coupons.”
Kim Sungjoong, First Deputy Governor of Gyeonggi Province, is holding a press conference on the budget for next year on the 3rd. Provided by Gyeonggi Province
The budget for strengthening transportation welfare has also been expanded, with 770.6 billion won allocated to the public management system for city and metropolitan buses, the “THE Gyeonggi Pass,” transportation subsidies for children and youth, and transportation support for seniors.
Emphasizing future growth, Gyeonggi Province will invest 138.2 billion won to strengthen the competitiveness of high-tech industries such as semiconductors, artificial intelligence (AI), robotics, and climate technology, as well as to foster a new growth ecosystem.
To this end, the province has selected key projects including training semiconductor professionals, establishing an AI innovation cluster, nurturing climate tech startups, and expanding the robotics industry ecosystem.
In addition, through initiatives such as the 4.5-day workweek for large and small businesses and the creation of resident-participatory RE100 income villages, Gyeonggi Province aims to ensure that industrial innovation leads to improved quality of life for residents and sustainable regional development.
Gyeonggi Province will also actively pursue care and safety projects, allocating 1.3927 trillion won to build a safety net that allows everyone to live with peace of mind anytime, anywhere.
Of this, 963.6 billion won will be used to strengthen care services such as the 360-degree care project, free childcare for infants and toddlers, support for the Nuri Curriculum, and expansion of customized care for people with disabilities. Additionally, 362.4 billion won will be invested in safety infrastructure projects to protect residents’ lives and property, including disaster prevention projects (95.2 billion won), typhoon and earthquake insurance (700 million won), and local river maintenance (264.9 billion won).
Furthermore, Gyeonggi Province has allocated 656 billion won for regional development and balanced growth, including metropolitan railway projects, expansion and paving of national and local roads, and the enhancement of living social infrastructure such as urban forests, libraries, and parking lots.
Kim Sungjoong, First Deputy Governor of Gyeonggi Province, stated, “The 2026 Gyeonggi Province budget is not just a number; it is a promise of action to change the lives of residents and a roadmap for shaping the province’s future. We will use this valuable budget to lay the foundation for change through innovation for the future, and to build a Gyeonggi Province that moves forward through the revitalization of the local economy, care, safety, regional development, and balanced growth.”
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