A view of Gyeongju City Hall. [Gyeongju City]
A view of Gyeongju City Hall. [Gyeongju City]

Gyeongju, in North Gyeongsang Province, has submitted a 225 billion won ($150 million) first supplementary budget for 2026 to the city council, the city announced Tuesday, aimed at reviving the local economy and expanding projects that residents can feel in their daily lives.

If approved, the total budget for Gyeongju will rise from 2.1 trillion won to 2.325 trillion won.

The general account will increase by 195 billion won to 1.979 trillion won, while the special account will grow by 30 billion won to 346 billion won.

The supplementary budget allocates 31.4 billion won for a high fuel-cost victim support fund and 10.4 billion won to support the issuance of local gift certificates, measures intended to stimulate consumer spending and revitalize neighborhood commercial districts.

An additional 1 billion won has been set aside for an interest subsidy on special loan guarantees for small business owners to ease their financial burden. Support for operating funds for small and medium-sized enterprises and maintenance of industrial complex infrastructure will also help stabilize local businesses.

The budget also earmarks 2.3 billion won for a new road between Dongguk University and Hyeongok Sanggu, 2 billion won for the widening and paving of a road between Cheonbuk Dongsan Bridge and the township office, and 500 million won for a new road between Bomun and Gujeong.

Other allocations include 2.5 billion won for the construction of a post-APEC memorial hall, 1.5 billion won for the restoration of the Gyeongju Eupseong fortress wall, 1.5 billion won for the restoration of a stone pagoda at the Inwang-dong temple site, and 1 billion won for an excavation survey at the Heungnyunsa temple site.

"This supplementary budget was drawn up with a focus on restoring the local economy amid difficult economic conditions and on areas where residents can feel real change in their everyday lives," Mayor Ju Nak-young said. "We will do our utmost to push forward local priorities without delay and to strengthen public safety and the foundations of daily life, improving the quality of life for our citizens."


kbj7653@heraldcorp.com