Yeongam-gun, Formulates 3rd Supplementary Budget of 710.9 Billion Won

Emergency Additional Support for Small Business Owners and Disaster Recovery Fund for Crop Damage

Incorporating COVID-19 Coexistence National Support Fund, National and Provincial Subsidy Projects, etc.

Yeongam-gun Office Building Exterior / ? Asia Economy

[Yeongam＝Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Yeongam-gun, Jeollanam-do announced on the 26th that it has prepared a 3rd supplementary budget of 710.9 billion KRW and submitted it to the county council.

This amount is an increase of 43.2 billion KRW (6.46%) compared to the 2nd supplementary budget of 667.7 billion KRW, focusing on additional emergency support for small business owners, disaster recovery costs for crops damaged by cold waves and abnormal low temperatures, changes in project costs after the 2nd national supplementary budget, and COVID-19 infections that have occurred since last year.

By account type, the general account increased by 43.7 billion KRW (7.39%) to 634.8 billion KRW compared to the 2nd supplementary budget of 591.1 billion KRW; the public enterprise special account decreased by 0.5 billion KRW (0.78%) to 65.6 billion KRW compared to the 2nd supplementary budget of 66.1 billion KRW; and the other special accounts remained unchanged with 10.5 billion KRW allocated through expenditure restructuring.

By function, the budget was allocated as follows: agriculture, forestry, marine, and fisheries sector 171.6 billion KRW (24.14%), social welfare and health sector 160.4 billion KRW (22.57%), environmental protection sector 99.9 billion KRW (14.05%), and transportation, logistics, and national land regional development sector 80.4 billion KRW (11.31%).

This supplementary budget urgently allocated funds including 3.5 billion KRW for support projects for small business owners, special employment workers, charter bus and taxi drivers suffering from COVID-19, 12.79 billion KRW for the COVID-19 coexistence national support fund, 4.03 billion KRW for damage recovery support projects due to cold waves, abnormal low temperatures, and heavy rains, 12.28 billion KRW for agricultural and fishery support projects, and budgets related to AI support and COVID-19 quarantine.

It also focused on regional economic revitalization and job creation for low-income groups by allocating 1.26 billion KRW for youth-led direct job creation projects, 600 million KRW for support of four major insurance premiums for newly hired workers at small and medium shipbuilding companies, and 100 million KRW for newly renovated bus terminal support projects.

A county official stated, “This supplementary budget focuses on stable financial management to secure fiscal soundness and efficiency by reflecting the county’s burden for national and provincial projects, supporting small business owners on the brink of collapse due to COVID-19, and allocating budgets for disaster and damage recovery projects closely related to the residents’ livelihood and local issues.”

Meanwhile, the Yeongam County Council plans to hold the 285th extraordinary session from the 30th of this month to the 10th of next month to review and approve the supplementary budget and ordinances.

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