Geochang-gun, 3rd Supplementary Budget of 775.9 Billion Won Formulated

870 Billion KRW Increase for 2nd Supplementary Budget, Reflecting COVID-19 Recovery and Disaster Response

Geochang County Office Building Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 31st that it has prepared the 3rd supplementary budget plan amounting to 775.9 billion KRW, which is an increase of 12.6% or 87 billion KRW compared to the 2nd supplementary budget.

The general account of the budget submitted by the county to the Geochang County Council is 701.1 billion KRW, an increase of 13.1% compared to the 2nd supplementary budget, and the special account is 74.7 billion KRW, an increase of 8.3%.

The main sources of revenue are local allocation tax of 36.2 billion KRW, national subsidy of 21.5 billion KRW, compensation income of 19.8 billion KRW, and adjustment grants of 5.1 billion KRW.

This supplementary budget prioritizes projects to overcome the damage to residents caused by the prolonged COVID-19 pandemic, including the government’s ‘COVID-19 Coexistence National Support Fund,’ and projects to improve disaster risk areas.

Gu In-mo, the governor of Geochang-gun, said, “This 3rd supplementary budget prioritizes helping residents whose lives have become difficult due to the prolonged COVID-19 pandemic and early overcoming of the economic crisis. We have prioritized projects that ensure the smooth progress of major pending projects, preparation of preliminary procedures for next year’s projects, and urgent financial demand.”

Meanwhile, the 3rd supplementary budget will be approved and finalized at the 258th Geochang County Council extraordinary session starting on September 2.

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