Jeonju City Council Cuts 5.2 Billion Won from Supplementary Budget Amid City’s Financial Difficulties

【Financial News Jeonju = Kang In】 The Jeonju City Council in North Jeolla Province cut 5.2 billion won from the third supplementary budget, citing financial difficulties.
The Jeonju City Council held a plenary session on the 16th and approved a revised third supplementary budget for general and special accounts, totaling 161.0353 billion won in revenue and expenditure.
The council’s Budget and Accounts Special Committee reviewed the urgency of each project and whether it involved discretionary spending, taking into account the worsening financial situation caused by declining revenue and accumulated local debt.
As a result, it reduced the budgets for 14 projects by approximately 5.29 billion won.
The committee determined that Jeonju-si’s financial crisis was so severe that the city was unable to pay performance bonuses to public officials on time.
The budgets for the construction of a regional rehabilitation hospital, worth 2 billion won, and payments of allowances to the bereaved families of participants in the Donghak Peasant Revolution, worth 112.14 million won, were cut in full. Partial cuts were also made to fuel subsidies for the transportation industry, worth 2 billion won; the establishment of a demonstration infrastructure for innovative medical devices using mechano-bio active materials, worth 533.5 million won; the creation of an urban forest in the carbon industrial complex, worth 100 million won; and the New Year’s Eve festival, worth 20 million won.
Jang Byeong-ik, chair of the Jeonju City Council’s Budget and Accounts Special Committee, urged the city administration, saying, "Please continue to consider ways to use limited resources efficiently and improve the treatment of public officials."


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