Local Allocation Tax and Local Education Finance Grants of 2.3 Trillion Won Allocated

[Asia Economy Reporter Jang Sehee] The Ministry of Economy and Finance announced on the 15th that it has allocated 2.3 trillion won in local allocation tax and local education finance allocation settlement funds to local governments.

The amount allocated this time was distributed to the 17 metropolitan cities and provinces from the general account surplus of 5.7 trillion won confirmed by last year's national settlement results, with 1.5 trillion won for local allocation tax settlement funds and 700 billion won for local education finance allocation settlement funds.

The local allocation tax was allocated most to Gyeongbuk (209.6 billion won), Jeonnam (182.6 billion won), and Gyeongnam Province (148 billion won) in that order.

The local education finance allocation was highest for Gyeonggi Office of Education (150.8 billion won), Seoul Office of Education (87.6 billion won), and Gyeongnam Office of Education (53.4 billion won) in that order.

Meanwhile, the special allocation tax settlement portion (33.4 billion won), which was not included this time, will be allocated in the future if related needs such as disasters arise.

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