South Korean provincial budget negotiations

South Korean local governments, specifically Chungbuk and Jeonbuk provinces, are actively lobbying the National Assembly to increase their allocations in the 2027 government budget proposal.

Chungbuk Province has proposed a budget of 10.11 trillion won, seeking an additional 200 billion won through parliamentary deliberations. Governor Shin Yong-han has met with the Chairman of the National Assembly’s Special Committee on Budget and Accounts to advocate for specific regional projects, including the Jungbu Expressway expansion, a carbon-neutral wood resource recycling hub, and a National Forest Healing Center feasibility study. Additionally, the province is requesting that the current system for distributing local allocation tax settlements be maintained to ensure financial autonomy.

Jeonbuk Province has submitted a budget proposal exceeding 10 trillion won for the first time. The province is working with local lawmakers to secure funding for initiatives such as the Physical AI Valley, the Saemangeum K-Food Export Hub, and a veterinary medicine bio-factory. Jeonbuk is also seeking national support for the relocation of public institutions and designation as a financial hub.