Politics · South Korea · 3 hrs ago
Progressive party urges joint action over Jeonju’s finances and state grants
The Progressive Party’s Jeonju branch says the South Korean city is facing a serious financial squeeze.
It says Jeonju’s local debt rose from 351.5 billion won in 2023 to 622.5 billion won in 2025, after large projects were pursued under a former mayor.
The city’s 2027 forecast shows its own revenue falling 26.7 billion won short of essential costs.
The party also warns that a government fund could reduce Jeonju’s ordinary state grant by about 79.6 billion won.
The city has proposed steps including collecting overdue bills, raising some fees, selling public assets and adjusting major investments.
The party says residents should not be expected to cover the gap and is calling for an apology, an inquiry into responsibility and joint efforts by the mayor and local lawmakers to protect the grant.
The Progressive Party’s Jeonju regional committee urged an apology to residents and joint political action over the city’s finances.
It said Jeonju’s local debt rose from 351.5 billion won in 2023 to 622.5 billion won in 2025.
The party said the city could face a 267 billion won gap in 2027 between its own-source revenue and essential spending.
It also warned that government plans could reduce Jeonju’s general local allocation tax by about 79.6 billion won.
Jeonju has proposed measures including higher fees, asset sales and cuts to some spending.
- Who
- The Progressive Party’s Jeonju regional committee.
- What
- It called for an apology to residents and joint action to protect local allocation tax grants.
- When
- October 13, 2026.
- Where
- Jeonju, North Jeolla Province, South Korea.
- Why
- The party cited the city’s financial difficulties and the risk of a roughly 79.6 billion won reduction in its general local allocation tax.
Progressive Party’s Jeonju regional committee
Jeonju city
Addressing the shortfall
Progressive Party’s Jeonju regional committee
Raising fees and relying on residents to make up missing funds is not a fundamental solution, the party said.
Jeonju city
The city proposed raising sports facility and waste-bag fees, among other measures.
Financial response
Progressive Party’s Jeonju regional committee
The party called for responsibility to be established and for an apology to residents.
Jeonju city
The city listed debt collection, asset sales, subsidy reductions and adjustments to major investment projects as measures.
Jeonju’s outstanding local debt stood at 351.5 billion won, according to the party.
The party said outstanding local debt had risen to 622.5 billion won.
The Progressive Party’s Jeonju regional committee criticized the city’s finances and called for an apology and joint action.
The city’s forecast showed its own-source revenue falling 267 billion won short of essential spending.
- Local debt in 2023
- 351.5 billion won
- Local debt in 2025
- 622.5 billion won
- Projected 2027 revenue gap
- 267 billion won
- Potential general local allocation tax reduction
- About 79.6 billion won
- Estimated local debt interest next year
- Nearly 20 billion won
What people are saying
Using citizens’ pockets to make up the shortfall amid high prices and an economic downturn cannot be a fundamental solution to the fiscal crisis.
We must clearly establish responsibility for causing this fiscal crisis and apologize to citizens.
Sources
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