Hamyang-gun Allocates 561.2 Billion Won Budget for 2022, 7.08% Increase from This Year, Largest Ever

Hamyang County Office building exterior view

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] On the 19th, Hamyang-gun, Gyeongnam announced that it submitted the 2022 initial budget to the Hamyang County Council, totaling 561.2 billion KRW, an increase of 37.1 billion KRW or 7.08% compared to this year.

The initial budget plan is the largest ever, following 480.7 billion KRW in 2019 after the launch of the 7th local government, 502.1 billion KRW in 2020 marking the era of a 500 billion KRW budget, and 524 billion KRW in 2021.

By account, the general account was organized at 528.1 billion KRW, an increase of 32.8 billion KRW from this year's initial budget, and the special account was organized at 33.1 billion KRW, an increase of 4.2 billion KRW.

The county prepared the 2022 budget focusing on recovering the stagnant local economy, driving sustainable growth after the expo, ensuring the smooth completion of the 7th local government’s pledged projects, stable county administration preparing for Hamyang’s future 100 years through sound fiscal management, job creation, and strengthening welfare centered on demand.

Looking at the expenditure scale by sector, agriculture, forestry, marine, and fisheries accounted for the largest portion at 21.55% or 120.9 billion KRW, followed by social welfare at 102.8 billion KRW (18.32%), environment at 67.7 billion KRW (12.07%), and land and regional development at 54.3 billion KRW (9.68%).

Major expenditure budgets include 10.5 billion KRW for the urban regeneration New Deal project to create new added value in the region, 4.1 billion KRW for support allowances for farmers and fishermen for sustainable rural development, 3.1 billion KRW for the smart pipeline management infrastructure project for rapid response to water quality and quantity management, and 2.2 billion KRW for improving parking environments in traditional markets to enhance market competitiveness.

County Governor Seo Chun-soo stated, “This budget plan was prepared after multifaceted review to recover from the prolonged economic recession caused by COVID-19 and to establish sustainable growth engines after the expo,” adding, “I ask for the active cooperation of the county council for this budget plan aimed at the development of the county and the happiness of its residents.”

Meanwhile, this initial budget plan will be reviewed by each standing committee during the 266th Hamyang County Council’s 2nd regular session, followed by final review by the Budget and Accounts Special Committee, and will be approved and finalized at the plenary session on December 21.

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