My contract was done at the end of February so it was my renewed contract that wouldn't have been able to get adequate funding. The funding is set aside for the year, so it is my assumption that if you're contracted until August, the money should already be there.
An additional note is that many people, including the Korean teachers at my school and parents didn't know that funding for native teachers was being cut in order to provide free meals for students. So, after about three weeks of looking for a new job my school asked me not to take a new job because the provincial education board might change its mind and provide funding again. So, I waited and turned down a job at another school. Originally it was a two day wait, then five, then ten. When word was received, my school would get 40% from the province rather than 60% (my school already gets 40% from the city's education office). My school told me to wait and they might be able to find 20% in their own budget. At this point, I had less than a week left on my visa so I decided to take the first good offer that I received. I was offered a sweet university job, so I took. I went to my school the next day to get the visa transfer request, at which point they told me that they had 20% for me. I had to say sorry, it's too late.
I had been at my high school for 4.5 years and had planned to stay for one more. I loved working there, but the provincial education board ruined it. Even if I had stayed at my school, who's to say this problem wouldn't happen again in the future. They really need to think these kind of far-reaching decisions through a lot better in the future and make information more available. I'm sure a lot of schools lost good teachers from all this flip-flopping on the part of the education board.