The North Gyeongsang Provincial Assembly building. [North Gyeongsang Provincial Assembly]
The North Gyeongsang Provincial Assembly building. [North Gyeongsang Provincial Assembly]

The Budget and Accounts Special Committee of the North Gyeongsang Provincial Assembly announced Wednesday that it had reviewed the province's first supplementary budget and fund management revision plan for 2026, along with the first supplementary budget and fund management revision plan for the province's special education account.

The total size of the first supplementary budget stands at 15.32 trillion won ($9.97 billion), an increase of 1.28 trillion won, or 9.1 percent, from the original budget of 14.04 trillion won.

Major revenue sources include 670.1 billion won in national subsidies, 239.3 billion won in local bonds and 105.1 billion won in local allocation grants.

The supplementary budget cuts 55.5 billion won through expenditure restructuring, with the savings directed toward stabilizing livelihoods and reviving the local economy.

Key spending items include 372.2 billion won in support payments for residents affected by high fuel prices, 66.2 billion won to expand local gift certificate issuance, 32.5 billion won to support income stability for farmers and fishers, and 13.9 billion won to help small businesses recover and promote innovation among small and medium-sized enterprises.

The first supplementary budget for the province's special education account totals 6.19 trillion won, up 598.7 billion won, or 10.7 percent, from the original budget of 5.59 trillion won.

On the revenue side, central government transfers — including general and special grants — account for 566.2 billion won, with 18.8 billion won carried over from the previous year and 8 billion won from self-generated revenue.

Spending focuses on improving school environments, with 70.9 billion won allocated for spatial restructuring, 37.1 billion won for expanding digital education infrastructure, 29.9 billion won for operating pilot zones under the education development special district program, and 20.9 billion won for building and expanding schools.

The committee reviewed the appropriateness, priorities and policy effectiveness of both the provincial administration and education supplementary budgets, focusing on ensuring they make a meaningful contribution to pressing issues including livelihood stability and local economic recovery.

"This supplementary budget is an important tool for easing the burden of high fuel prices, stabilizing livelihoods and revitalizing the local economy," committee chair Kim Dae-il said. "We will do our best to ensure that the necessary funds are deployed in a timely manner and provide practical, well-timed support to residents, even amid constrained local finances."


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