Gimcheon City Hall. [Gimcheon City]
Gimcheon City Hall. [Gimcheon City]

Gimcheon city in North Gyeongsang Province has submitted a first supplementary budget of 1.52 trillion won ($1.01 billion) for this year to the city council, officials said Friday.

The figure represents an increase of 88 billion won from the previous year.

The budget was drawn up with a focus on reviving the local economy, stabilizing residents' daily lives and ensuring the smooth execution of key projects.

To stimulate the local economy, the city allocated a high oil price victim support fund to ease the burden on residents hit by elevated fuel costs, and included funding to support the issuance of Gimcheon Love gift certificates aimed at boosting local consumption and increasing sales for small business owners.

The budget also prioritizes key projects to lay the groundwork for the city's future growth, including a full reconstruction of the Hwanggeum water purification plant to ensure a stable water supply and the development of an automotive tuning general industrial complex to foster the future automobile industry.

The supplementary budget will be finalized after clearing the 260th Gimcheon City Council extraordinary session, which opens July 20.

"This supplementary budget was drawn up around projects essential for stabilizing livelihoods and resolving local issues," Mayor Bae Nak-ho said. "We will do our utmost to execute the budget swiftly once it is confirmed, so that residents can receive the administrative services they need in a timely manner."


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