Wando-gun Prepares 548.5 Billion Won Budget for Next Year... 30 Billion Won Increase

Focused Investment in Full-Scale Promotion of Marine Healing Industry

Wando-gun Office Building Exterior (Photo by Wando-gun)

[Asia Economy Honam Reporting Headquarters Reporter Choi Kyung-pil] Wando-gun, Jeollanam-do announced on the 23rd that it has finalized the initial budget for next year at a total scale of 548.5 billion KRW, an increase of 30 billion KRW compared to this year, and submitted it to the Wando County Council.

By account, the general account was organized at 530.5 billion KRW, an increase of 27 billion KRW from this year's initial budget, and the special account was organized at 18 billion KRW, an increase of 3 billion KRW.

The county formulated the budget focusing on reflecting the marine healing industry promotion, a key policy of the 7th local government administration, first; revitalizing the local economy through the concurrent growth of agriculture, fisheries, and livestock industries; expanding living SOC projects closely related to residents' daily lives; creating jobs; and strengthening welfare centered on demand.

Looking at the expenditure budget by sector, agriculture, forestry, marine, and fisheries accounted for the largest portion at 28.7%, or 157.3 billion KRW, followed by social welfare at 122.3 billion KRW (22.3%), environment at 46.8 billion KRW (8.5%), culture and tourism at 39.5 billion KRW (7.2%), national land and regional development at 31 billion KRW (5.6%), general public administration at 23.5 billion KRW (4.3%), and transportation and logistics at 14.1 billion KRW (2.6%).

Major projects reflected in the budget include 22.2 billion KRW for the establishment of the Marine Healing Center (15.9 billion KRW) and the creation of the Marine Healing Blue Zone (6.3 billion KRW) to promote the marine healing industry, a future growth engine industry of Wando-gun; 16 billion KRW for the Saemangeum New Deal 300 project; 15.1 billion KRW for living SOC projects to expand sports and cultural facilities; 1.5 billion KRW for the "Islands You Want to Visit" project; 6.9 billion KRW for farmers and fishermen’s public interest allowances; 8 billion KRW for regional unit hub development projects; 2 billion KRW for multipurpose parking lot construction; 7.2 billion KRW for local fishing port construction; 3.5 billion KRW for urban regeneration New Deal projects; 9.4 billion KRW for eco-friendly energy supply projects in the fisheries sector; and 2.9 billion KRW for passenger ship fare support projects for island residents.

A county official stated, “Next year’s revenue is expected to decrease in both self-generated income and transfer income compared to this year, as COVID-19 is anticipated to continue affecting domestic and international economic activities such as consumption and production. Due to the transfer of the balanced national tax account to local governments and the increase in public contest projects, national and provincial government-funded projects are increasing, and expenditure demand in the welfare sector is rising, so budget management difficulties are expected. We will operate the budget efficiently and substantively so that residents can feel the development of the county administration.”

Meanwhile, the budget submitted by Wando-gun for next year will be reviewed and resolved during the 2nd regular session of the 286th Wando County Council, held from the 9th to the 18th of next month, and will be finalized on the 19th of next month.

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