The North Gyeongsang Provincial Government building. [North Gyeongsang Province]
The North Gyeongsang Provincial Government building. [North Gyeongsang Province]

North Gyeongsang Province said Tuesday it had submitted its first supplementary budget proposal for 2026 to the provincial assembly.

The supplementary budget was drawn up to swiftly advance projects tied to the central government's own supplementary spending — including payments from a high oil price victim support fund and the issuance of local gift certificates — while expanding livelihood stabilization programs that residents can directly feel, in a bid to revive the regional economy.

The total supplementary budget stands at 15.3182 trillion won (approximately $9.91 billion), up 1.2819 trillion won, or 9.1 percent, from the original budget of 14.0363 trillion won.

Of that, the general account rises by 1.2308 trillion won, or 10.0 percent, to 13.5903 trillion won, while the special account increases by 51.1 billion won, or 3.1 percent, to 1.7279 trillion won.

To support residents' livelihoods, the supplementary budget includes 372.2 billion won for a high oil price victim support fund, 66.2 billion won to support the issuance of local gift certificates, and 2.2 billion won for K-Pass, a public transit fare rebate program.

Additional allocations cover interest subsidies for small business development loans (4 billion won), interest subsidies for small and medium-sized enterprise operating funds (7.5 billion won), investment support for materials, parts and equipment SMEs in national strategic industries (2.2 billion won), export logistics cost support for small and medium-sized enterprises (1 billion won), a pilot basic income program for rural communities (3.4 billion won), and a safe mobility service support program (400 million won).

The budget also adds funding to build on the province's gains in its campaign against the low birth rate, which has shown a turnaround as the total fertility rate re-entered the 1.0 range for the first time in six years. New allocations include 500 million won for maternal and newborn health management, 300 million won to expand support for couples undergoing infertility treatment, and 200 million won for Japan-focused marketing projects.

The supplementary budget proposal will go through review by the provincial assembly's standing committees and budget committee before a final vote at the plenary session on June 26.

"This supplementary budget is an emergency prescription to ease the burden on residents struggling with high oil and consumer prices and to restore the livelihood economy," North Gyeongsang Governor Lee Cheol-woo said. "We will move quickly on programs that residents can feel directly, inject vitality into the regional economy, and push forward without delay on the key policy agenda of the ninth elected provincial administration."


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