Changwon City Holds Interim Report Meeting on 'Feasibility Review of Extending Financial Incentives'

On the 4th, Jo Young-jin, the first deputy mayor of Changwon City, is conducting an interim report meeting on the feasibility review of extending financial incentives. (Photo by Changwon City)

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kang Sharon] On the 4th, Changwon City in Gyeongnam held an interim report meeting for the "Evaluation of Financial Support for the Integrated City and Feasibility Study on Extension of Support Period" chaired by First Deputy Mayor Jo Young-jin in the city council's main conference room.

The purpose of this meeting was to review the progress of the feasibility study on the evaluation of the integrated city's financial incentive project and the necessity of extending the support period, and to seek advice from city finance and economic experts.

At the meeting, researchers from the Changwon Local Tax Research Institute disclosed the results of their review on the feasibility of extending financial incentive support for the next 10 years, based on the progress of autonomous integration promotion by local governments and analysis of changes before and after integration.

The advisory committee members engaged in heated discussions, providing additional opinions to reinforce the data and logic.

The city has received 14.6 billion KRW annually for 10 years as a financial special case for the integrated city, investing in regional balanced development projects such as infrastructure construction in the former Changwon, Masan, and Jinhae areas, achieving certain results.

However, due to the aftereffects of integration, social costs and financial demands for balanced development are increasing, raising the necessity to extend the special financial support period.

First Deputy Mayor Jo Young-jin stated, "It is time to reflect on the 10 years since integration and to consider the next 10 years," emphasizing, "Extending financial support for the integrated city is essential to make the next decade a period of harmonious convergence and synergy creation for Integrated Changwon City," highlighting the need to extend financial incentive support.

The city has selected the extension of financial incentives as a key task and is making strenuous efforts, including visiting and petitioning the National Assembly and central government ministries.

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