Incheon Ongjin-gun Provides 350,000 KRW to Top 30% Income Earners... 50% Reduction in Resident Tax

Full Waiver of Agricultural Machinery Rental Fees for 4 Months
Up to 1 Million Won Support for Small Business Owners

Jang Jeong-min, Governor of Ongjin County, Incheon, is announcing a comprehensive plan to stabilize the local community to overcome COVID-19 on the 6th.
[Photo by Ongjin County]

[Asia Economy Reporter Park Hyesook] Residents of Ongjin-gun, Incheon, located in the northwestern part of the West Sea, who are struggling due to the spread of the novel coronavirus infection (COVID-19), will receive reductions in agricultural machinery rental fees and resident taxes.

Jang Jeongmin, Mayor of Ongjin-gun, Incheon, announced a comprehensive local community stabilization plan on the 6th to overcome COVID-19.

According to government policy, households in the bottom 70% income bracket will receive emergency disaster living expenses ranging from 400,000 to 1,000,000 KRW depending on the number of household members, and households in the top 30% income bracket who do not receive this will be given a total of 350,000 KRW, including 250,000 KRW from Incheon City support plus an additional 100,000 KRW.

In addition, small business owners facing severe management difficulties will be separately supported with up to 1,000,000 KRW per business.

Resident taxes for all residents will also be reduced by 50% for three months until June this year. Accordingly, corporations can receive resident tax reductions ranging from a minimum of 37,500 KRW to a maximum of 375,000 KRW.

The county will also expand reductions in agricultural machinery rental fees and support for distribution logistics costs to stabilize farmers and fishermen.

Agricultural machinery rental fees will be fully waived for four months, and the self-pay ratio for distribution logistics costs for farmers and fishermen will be lowered from the existing 30% to 10% to help revitalize sales of local specialty products.

The county plans to promptly revise the 'Ordinance on Support for Small Businesses in Ongjin-gun' to expand the special guarantee loan from the existing 50 million KRW to 70 million KRW for 1,383 small business stores in the region and provide interest-free loans for three months.

In addition, quarantine expenses and other support will be provided to 74 religious organizations in the area, including 53 Christian churches, 14 Catholic churches, and 5 Buddhist temples, to strengthen COVID-19 infectious disease prevention activities.

Mayor Jang stated, "To ensure that policies to overcome COVID-19 are implemented quickly, we plan to accept applications both online and at township and branch offices," and urged, "As intensive social distancing will be implemented until the 19th of this month, tourists are asked to refrain from visiting Ongjin-gun."

This content was produced with the assistance of AI translation services.