Gyeonggi Province's main budget for next year is 42.2 trillion won... Available resources decreased by 1 trillion won

Issuing local bonds and borrowing funds… The total size increased by 2.1 trillion won compared to last year.

Submitted to the Provincial Council on the 13th, beyond the legal deadline... “All-out effort to protect life, safety, and people’s livelihood”

(Suwon = Yonhap News) Reporter Choi Jong-ho = Gyeonggi Province has prepared a main budget plan for 2027, with available resources significantly reduced compared to this year, amid a 'financial emergency situation'.

Gyeonggi Province prepared a budget plan for next year worth 42.1946 trillion won and submitted it to the Provincial Council on the 13th.

General accounting is 37.8036 trillion won, and special accounting is 4.391 trillion won.

This is an increase of 2.1369 trillion won, or 5.3%, from this year's main budget of 40.577 trillion won, and is similar to this year's second supplementary budget of 42.2053 trillion won.

As Gyeonggi Province is expected to have a significant decrease in its own business budget next year, it secured financial resources by issuing 246.2 billion won worth of local bonds and borrowing 410 billion won from the Integrated Financial Stabilization Fund and 100 billion won from the Regional Development Fund, raising available resources of 3.0494 trillion won.

This is a decrease of KRW 1.0101 trillion from KRW 4.0495 trillion this year.

Next year's budget prioritized life and safety, protection of the vulnerable, and public livelihood projects.

The main areas of organization include KRW 244.5 billion in support for provincial education office meal expenses for kindergartens, elementary, middle, and high schools, KRW 37.5 billion in opportunity income support for farmers and fishermen, KRW 55.4 billion in support for maternal and newborn health care, KRW 41.6 billion in improved treatment of teachers and staff at daycare centers and support for substitute manpower, KRW 57.7 billion in youth basic income, and KRW 436.1 billion in operation of the city bus public management system.

KRW 27.6 billion in additional support for activity support benefits for the disabled, KRW 297.6 billion in long-term care facility benefits for the elderly, KRW 90.6 billion for local river maintenance projects, KRW 10.8 billion for job contests tailored to the disabled, KRW 35 billion for meal support for undernourished children, KRW 3.3 billion for senior welfare center operating expenses, and KRW 61.6 billion for local currency issuance support were also allocated.

The areas of securing future growth engines and regional competitiveness, such as fostering cutting-edge future industries including artificial intelligence (AI) and semiconductors, include 2.1 billion won for the operation of the semiconductor technology center, 2.3 billion won for the technology development project, 3 billion won for the introduction of self-driving metropolitan buses, 900 million won for the AI ​​innovation cluster creation project, and 2.5 billion won for the sunlight self-reliant village.

In order to secure available resources, some legal expenses such as the Win-Win Development Fund (KRW 400 billion) and three months' worth of labor costs for public servants (KRW 90 billion) were not included in this budget.

The province plans to cooperate with the government and the National Assembly to expand national funding and secure additional financial resources, and to supplement the essential budget that has not been reflected through the supplementary budget.

In addition, due to the worsening financial situation, the province decided to reexamine its policy of applying a 'maximum 30%' provincial support rate to city and county auxiliary projects next year.

Considering the financial burden on cities and counties, the province decided to maintain the previous year's subsidy rate for most projects.

Jeong Doo-seok, head of the Provincial Planning and Coordination Office, said, "Next year's budget plan was prepared with an all-out effort to protect the lives, safety, and livelihood of residents by boldly reducing expenditures that can be reduced amid difficult financial conditions. We will persuade the government and the National Assembly to secure additional financial resources and protect the budget necessary for the lives of residents as much as possible."

This budget plan will be finalized at the plenary session on the 11th of next month after deliberation and resolution by the Provincial Council's Standing Committee (20th to 26th) and the Budget and Settlement Special Committee (27th to December 10th).

Originally, in accordance with the Local Autonomy Act, the province had to submit its main budget to the provincial council by the 11th, 50 days before the start of the city/provincial fiscal year (January 1), but as discussions over the organization of public welfare projects dragged on, it was submitted late on the same day.

This is the first time that the province has failed to meet the deadline for submitting its budget plan.