Jeongeup-si Sets 1.039 Trillion Won Budget for Next Year... 14% Increase

[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City, Jeonbuk Province (Mayor Yoo Jin-seop) announced on the 18th that it has submitted the next year's budget proposal to the Jeongeup City Council to improve the quality of life for citizens and lay the foundation for future growth engines.

Jeongeup City's main budget for next year has been organized at 1.039 trillion KRW, a 14% increase from this year's main budget of 911.6 billion KRW.

This is an increase of 127.4 billion KRW compared to this year, with the general account increasing by 116.7 billion KRW (13.8%) to 965.2 billion KRW, and the special account increasing by 10.7 billion KRW (17%) to 73.8 billion KRW.

The expenditure budget focused on supporting the recovery of daily life from COVID-19, the successful completion of the 7th local government term, and expanding future investments for Jeongeup's new leap and prosperity.

It also concentrated the budget on protecting vulnerable groups, job projects, disaster response system preparedness, and current projects that can drive future growth engines.

Major expenditure budget projects include 73 billion KRW allocated to the cultural tourism sector, such as the Naejangsan Natural Recreation Forest development (7.7 billion KRW), a flagship stay-type tourism project to secure independent revenue sources, and the construction of the Jeongeup Cultural Heritage Visitor Center (9.4 billion KRW).

Additionally, 23.9 billion KRW was allocated to the industrial and small-medium enterprise sector to build a livable advanced economic city, including strengthening the competitiveness of aging key industrial complexes (1.6 billion KRW), constructing the 3rd Industrial Complex Multipurpose Cultural Center (1 billion KRW), and establishing an investment promotion fund (1 billion KRW).

The city allocated 268 billion KRW to welfare and education sectors, including basic pensions (86.2 billion KRW) and senior job projects (14.8 billion KRW), to create a welfare and education city; and 199 billion KRW to agriculture, forestry, and fisheries sectors to build a smart agro-biological city, including the construction of a smart greenhouse for demonstration testing (1.4 billion KRW) and public, rice, and field direct payments (42.3 billion KRW).

Furthermore, 133 billion KRW was allocated to road traffic and regional development sectors for building a dignified safe and happy city, and 111.7 billion KRW to the environment sector, including support for electric vehicle distribution.

The revenue budget reflects 118.2 billion KRW from local taxes and other self-generated revenues, 474.8 billion KRW from local allocation tax, and 378.3 billion KRW from national and provincial subsidies.

Mayor Yoo Jin-seop said, “We have efficiently organized the budget through expenditure restructuring of projects executable within the year and focused investment in current projects. We will do our best to support the transition to daily life recovery after COVID-19 and revive the stagnant local economy to achieve a great leap forward for Jeongeup.”

Meanwhile, the submitted budget proposal will be finalized around the 14th of next month after deliberation at the 2nd regular meeting of the Jeongeup City Council.

Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil gjg7070@asiae.co.kr

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