Jeju Province’s elected administration’s first supplementary budget,9allocated hundred million won,4,615to support people’s livelihoods

Jeju Province7in10on the day of the elected administration’s9prepared its first supplementary budget proposal after the launch of the term and4,615raised hundred million won. The supplementary budget was prepared to restore people’s livelihoods and promote the new provincial administration’s key pledges against the backdrop of high inflation, high oil prices, and high interest rates.

A supplementary budget proposal drawn up by the central government or a local government is a revised budget that adds the necessary amount to the originally finalized budget. Jeju Province’s proposed supplementary budget this time is described as prioritizing support for people’s livelihoods and implementation of pledges.

Jeju Province said it aimed to ease the burden on residents and small business owners caused by high inflation, high oil prices, and high interest rates. The supplementary budget proposal emphasized securing spending related to people’s livelihoods and funding for key provincial projects.

The supplementary budget plan is expected to be finalized after deliberation and approval by the provincial council. Jeju Province said the reason for drafting it was to support the local economy and stabilize residents’ lives.

This allocation is the first fiscal measure reflecting the commitment of the popularly elected9 administration to carry out its campaign pledges, according to the report’s headline. The breakdown by specific project and the implementation schedule are expected to be disclosed in future announcements by the province.