The Incheon Metropolitan Government (Mayor Park Chan-dae) has compiled its second supplementary budget for 2026, totaling 1.1551 trillion won. The core of the plan is that, rather than issuing additional local bonds, the city redirected funds secured through spending restructuring toward livelihood needs and essential public services as a priority.
 [코리안투데이] A view of the Incheon Metropolitan Government building © 장형임 기자 |
The Incheon Metropolitan Government announced that it has compiled a second supplementary budget for 2026 worth 1.1551 trillion won, aiming to carry out livelihood-related priorities directly tied to residents’ daily lives without disruption while securing the stability and sustainability of its fiscal management.
The total scale of this supplementary budget stands at 17.0241 trillion won, an increase of 1.1551 trillion won (7.3%) over the existing budget of 15.869 trillion won. By account, the general account rose by 634.5 billion won to 12.6419 trillion won, and the special account rose by 520.6 billion won to 4.3822 trillion won. Including funds, the overall fiscal scale is 18.6495 trillion won, and the debt ratio is expected to improve from 15.0% to 13.6%.
Ahead of compiling the supplementary budget, the city conducted a full review of the execution status of every department, adjusting budgets that were difficult to spend within the year or that were nonurgent, projects with poor execution, continuing expenditure projects expected to be carried over, and ordinary expenses. Through this, it carried out spending restructuring worth 211.4 billion won and allocated the secured funds first to livelihood priorities, essential public services, and state-subsidized projects. The move reflected a judgment that closely reviewing and readjusting existing budgets should take precedence over increasing new spending.
The part residents will feel most directly is the resumption of the Incheon e-eum cashback, a flagship livelihood policy. The city has allocated 77.9 billion won to this program and will resume cashback payments as soon as the budget is approved by the City Council in September. For the 10 days from September 21 to the end of September, ahead of the Chuseok holiday, the 10% cashback will be expanded to a monthly limit of 1 million won, and from October through December it will be paid up to a monthly limit of 500,000 won. Incheon e-eum has been a policy that eases residents’ living-cost burdens and stimulates local consumption to support the sales of small business owners and the self-employed. According to the city, this allocation is a decision made after comprehensively considering fiscal conditions and policy effectiveness.
Along with this, 12.7 billion won for childbirth support, 1.5 billion won in additional youth rent support, 27.9 billion won in public transportation fiscal support, and 6.6 billion won for i-Badapass support were compiled. i-Badapass is a program that subsidizes ferry fares for Incheon residents down to the level of city bus fares, and this supplementary budget also includes an expansion of support for military service members, out-migrants, and those with ties to the region.
Essential expenses of a statutory and mandatory nature were also reflected at 264.1 billion won. These include 44.7 billion won for long-term care insurance copayments for the elderly, 53.6 billion won to expand fiscal support for the semi-public bus operation system, 41.8 billion won for urban railway operating costs and the like, and 21.3 billion won in fuel subsidies for commercial freight vehicles, with the focus placed on enhancing the stability of public-service operations.
Changes in state-subsidized projects linked to central government funding were reflected at a scale of 301.2 billion won. These include a 156.7 billion won increase in medical benefit treatment-cost deposits, 33.1 billion won for basic pensions, 25.9 billion won for housing benefits, 30.2 billion won in K-Pass public-transportation fare refund support, and 21.7 billion won for the private distribution of electric vehicles. The city explained that projects tied to state funding require timely matching of city funds to avoid missing out on benefits for residents and to maximize the effect of local investment.
The main funding sources for this supplementary budget are 287.4 billion won in changes to state subsidies, 374.0 billion won in non-tax revenue, and 197.2 billion won in surplus reflecting the settlement results of the 2025 fiscal year. In addition, the city drew on 330.0 billion won in available resources, including the integrated management fund, to make up for a shortfall in general account revenue. In particular, it is notable that the city prioritized the use of internal resources without issuing additional local bonds; the city’s policy is to steadily pursue necessary projects while minimizing the fiscal burden.
Mayor Park Chan-dae said, ‘Going forward, we will continue to explain the fiscal situation transparently and compile and execute the budget responsibly,’ adding, ‘I and the public officials of Incheon will do our utmost to protect residents’ livelihoods, put our finances on a sound footing, and run a more stable city administration.’
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