Yeongju submits W1.21tr supplementary budget to boost local economy

Yeongju, a city in North Gyeongsang Province, has submitted its first supplementary budget for 2026 to the Yeongju City Council, totaling 1.21 trillion won ($883 million), the city announced Tuesday. The budget aims to revive the local economy and improve residents' quality of life.

The supplementary budget represents a 105.5 billion won increase, or 9.53 percent, over the original budget of 1.11 trillion won.

By account type, the general account stands at 1.11 trillion won, up 101.41 billion won, or 10.08 percent, from the original budget, while the special account totals 105.06 billion won, an increase of 4.08 billion won, or 4.05 percent.

Key spending items include 16.6 billion won for a victim support fund for high fuel prices, 12.7 billion won to support crop disaster insurance premiums, 6.4 billion won to subsidize discounts on the Yeongju Love gift certificate program, 4.6 billion won for electric vehicle purchase support, and 4 billion won for road paving in preparation for the 65th North Gyeongsang Province Citizens' Athletic Games.

The supplementary budget is set to be finalized after deliberation and a vote at the 304th regular session of the Yeongju City Council, which opens Monday.

"The domestic economy is gradually showing signs of recovery, but difficulties in the local economy — including a slump in regional construction and external uncertainties — still persist," Yeongju Mayor Hwang Byeong-jik said. "This supplementary budget was drawn up with those conditions in mind, focusing on projects that will provide real help in stabilizing livelihoods and reinvigorating the local economy."