Support Funds for Areas Around Power Transmission Facilities, Resident Direct Support Share Expanded from 50% to 100%
'Transmission Facility Surroundings Act' Passed at Cabinet Meeting
[Sejong=Asia Economy Reporter Kwon Haeyoung] In the future, the proportion of resident support projects around power transmission facilities will be expanded from the current limit of 50% of the total support funds to up to 100%, based on resident agreement.
The Ministry of Trade, Industry and Energy announced that the partial amendment to the "Act on Compensation and Support for Areas Surrounding Power Transmission and Transformation Facilities (Power Transmission Facilities Surrounding Act)" was approved at the Cabinet meeting on the 10th.
The main point of this bill is to allow the proportion of resident support projects, currently limited to within 50% of the total support funds, to be set differently upon resident agreement. Support for areas surrounding power transmission facilities is broadly divided into resident support projects that provide direct support to residents such as electricity bills and heating costs, and village joint projects for regional development and safety management such as housing improvement and construction of convenience facilities. However, since there are cases where the necessity of village joint projects is low or residents find it difficult to benefit, this legal amendment allows resident support projects to be implemented beyond 50% of the total support funds if all residents agree.
Additionally, to prepare for the possibility that the proportion of village joint projects may become excessively low, plans will be made to provide incentives for village joint projects through future enforcement ordinance revisions.
This Power Transmission Facilities Surrounding Act is scheduled to be promulgated as early as October, and the law will take effect six months after promulgation.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
An official from the Ministry of Trade, Industry and Energy stated, "Through continuous consultations with related ministries, affiliated organizations, and local governments, we will ensure that this law protects the property rights of local residents, promotes the development of local communities, and at the same time, helps to stabilize power supply and demand."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
