‘Gyeongsangbuk-do’s Budget for Next Year Concentrates on Future and Economy’

Gyeongsangbuk-do Gov. Lee Cheol-woo delivers his speech on Gyeongsangbuk-do’s budget for the next year at the plenary session of Gyeongsangbuk-do Council on Nov. 21. (Photos: Gyeongsangbuk-do)

Gyeongsangbuk-do Gov. Lee Cheol-woo said on Nov. 21, “Gyeongsangbuk-do’s budget for the year 2024 involves spending the right amount of money, the right way, where is most needed.”

In his speech on Gyeongsangbuk-do’s budget for the next year at the plenary session of Gyeongsangbuk-do Council, Gov. Lee said, “It is a time of golden mean to invigorate the economy of low-income people, continue to invest for the launch of a ‘provincial era’ and maintain fiscal soundness for next generations.”

Gov. Lee said, “We have to aggressively make new investments to activate growth engines while maintaining a policy of fiscal soundness for belt-tightening for our next generations.

“As we have so far done, we will nurture gifted manpower like riving universities and attracting foreign outstanding manpower, invigorate new breadwinners in areas, ranging from the agriculture sector to the tourism industry, and attach top priority to public livelihood so that provincial residents can live in a safe fashion and without worry,” he said.

To this end, Gyeongsangbuk-do announced a budget proposal for next year, set at 12,607.8 billion won, an increase of 525.7 billion won over this year without issuing provincial bonds next year.

The provincial government has set a budget for implementing state subsidy projects at 7,145.6 billion won, a rise of 884.3 billion won, and a budget for implementing its own projects at 3,973.7 billion won, a reduction of 276.1 billion won.

Gov. Lee said, “Delegating of authority will bring about capabilities, and I will do my utmost during the remainder of my term of office to have enough authority and finance transferred to provincial governments.”

Gyeongsangbuk-do Gov. Lee Cheol-woo Gov. Lee and Ho Chi Minh City Mayor Phan Van Mai attend a ceremony to open Ho Chi Minh-Gyeongju International Tourism Industry Fair in Ho Chi Minh City on Nov. 27.

Gov. Lee Promotes Gyeongbuk-Style Hallyu Fever in Vietnam

A delegation, headed by Gyeognsangbuk-do Gov. Lee Cheol-woo, toured Vietnam from Nov. 26 to Nov. 30, spurring activities to promote Gyeongbuk-style hallyu fever in the culture and tourism sectors and attracting outstanding manpower.

Gyeongsangbuk-do was to sign an agreement to promote cooperation and exchanges with Bac Ninh state, the birthplace of the clan of Hwasan Lee, a symbol of friendship between Korea and Vietnam.

Gov. Lee met with Secretary of Ho Chi Minh City Party Committee Nguyen Van Nen on Nov. 27 and discussed ways of promoting mutual cooperation between Gyeongsangbuk-do and Ho Chi Minh City.

Both sides have maintained relationships since 2017, when they jointly hosted Ho Chi Minh-Gyeongju World Culture Expo 2017 and struck a deal on cooperation and exchanges in the same year.

Gyeongsangbuk-do set up a travel publicity hall and experience zones and held a K-food fair and cultural performances at the Ho Chi Minh-Gyeongbuk Culture and Tourism Festival.

Gov. Lee was decorated with an honorary doctorate by Vietnam National University, Ho Chi Minh in recognition of his contribution to human prosperity through Saemaeul Movement and the development of Vietnam through the implementation of collaboration projects with Vietnam on Nov. 28.