Jeju Island faces fiscal crisis and safety system reviews

Jeju Island is facing significant administrative and financial challenges, according to recent discussions at the Jeju Provincial Council. Song Young-hoon, Chairman of the Jeju Provincial Council, highlighted the region's status as a recognized ‘international safe city’ for the fourth consecutive time. He emphasized the need to strengthen public safety systems and respond firmly to rumors to ensure the security of both residents and tourists.

Simultaneously, the province is grappling with a severe fiscal crisis. Reports indicate that Jeju's revenue is declining while its debt is rising sharply. The province's managed debt ratio has reached 20.42%, significantly higher than the national average of 14.61%. Per capita debt for Jeju residents has increased from approximately 1.9 million won in 2022 to 2.7 million won.

In response, Governor Wi Seong-gon announced plans for structural adjustments and fiscal tightening. To manage the budget, the administration intends to minimize new construction projects, prioritize the completion of existing works, and utilize idle public spaces rather than building new facilities. The province aims to focus remaining resources on essential public services, agriculture, and future industries such as AI and high-value tourism.