Yeongam-gun Confirms 3rd Supplementary Budget of 710.9 Billion Won

Emergency Additional Support for Small Business Owners and Disaster-Damaged Crop Recovery Cost Support

432 Billion KRW Increase Reflected for COVID-19 Coexistence National Support Fund, National and Provincial Subsidy Projects, etc.

Yeongam-gun Office Building Exterior Photo by Asia Economy

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Yeongam-gun, Jeollanam-do announced on the 14th that it finalized the 3rd supplementary budget of 710.9 billion KRW through the county council's resolution on the 10th.

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, restoration costs for crops damaged by cold waves and abnormal low temperatures, changes in project costs after the 2nd national supplementary budget formulation, and COVID-19 infections that have occurred since last year.

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

By function, the distribution was 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; 12.8 billion KRW for the COVID-19 coexistence national support fund; 4.0 billion KRW for restoration support projects for damages caused by cold waves, abnormal low temperatures, and heavy rains; 12.3 billion KRW for agricultural and fishery support projects; and budgets related to AI prevention and COVID-19 quarantine.

It also focused on regional economic revitalization and job creation for low-income groups, including 1.3 billion KRW for youth job creation projects led by the region, 600 million KRW for support of four major insurance premiums for newly hired workers in small and medium shipbuilding companies, and 100 million KRW for newly renovated bus terminal support projects.

A county official stated, “This supplementary budget emphasizes stable financial management to secure fiscal soundness and efficiency by reflecting the county's financial 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 restoration projects closely related to residents' safety and local issues.”

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