Local Governments to Receive 50% Annual Fund Support for North Korea Aid Projects
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[Asia Economy Reporter Lee Ji-eun] From now on, local governments will be able to receive support from the Inter-Korean Cooperation Fund for up to 50% of the total project cost once a year when promoting projects to support North Korea.
The Ministry of Unification announced on the 14th that it had given prior administrative notice the day before of the amendment to the "Regulations on the Handling of Humanitarian Support Projects and Cooperation Projects for North Korea," which centers on this content.
The amendment newly establishes a provision that allows support from the Inter-Korean Cooperation Fund within 50% of the total project cost once a year when it is difficult to promote North Korea support projects or cooperation projects solely with local government resources.
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The Ministry of Unification has separately allocated 25.6 billion KRW in the next year's Inter-Korean Cooperation Fund budget for supporting local governments' North Korean health care and infant support projects. This amendment specifies the criteria for providing that budget to local governments.
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