Mungyeong draws up W1.12tr supplementary budget for 2026

Mungyeong, a city in North Gyeongsang Province, said Monday it had submitted a first supplementary budget of 1.12 trillion won ($809 million) for 2026 to the city council.

City officials said the supplementary budget was drawn up after a thorough review of the progress and spending rates of individual projects, with bold expenditure restructuring carried out to maximize fiscal efficiency.

The revised budget represents a 65 billion won increase, or 6.2 percent, over the original budget. The largest single item is a high fuel-price relief payment totaling 16.8 billion won, under which each resident will receive 250,000 won.

The plan also allocates 3.92 billion won for operating a local gift-certificate program, 440 million won in interest-rate subsidy payments for small business owners, 120 million won for market management coordinators at traditional markets, and 150 million won in interest-rate subsidies for small and medium-sized enterprise operating funds.

In the welfare and residential sectors, the budget includes 200 million won for heating and cooling costs and grain expenses at senior centers, 2.32 billion won to establish a childcare hub in Mungyeong, 650 million won to make city bus services fully free of charge, 2.4 billion won to support crop disaster insurance premiums, 670 million won to develop Gamhong apple orchards, and 220 million won for new omija berry cultivation.

The supplementary budget will be reviewed and finalized at the 294th regular session of the Mungyeong City Council, which opens Tuesday.

"This supplementary budget focuses on easing the burden on residents amid difficult economic conditions, including high fuel prices, and injecting vitality into the local economy," Mayor Kim Hak-hong said. "We will push forward on key projects at pace so that residents can feel the change."