Hampyeong County Council Finalizes 2022 Main Budget at 471.8 Billion Won

Reduction of 787 Million KRW in 9 Projects within the General Account Expenditure Budget, Entire Amount Transferred to Contingency Fund

[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] The Hampyeong County Council in Jeollanam-do announced on the 17th that it has concluded the agenda of the 271st 2nd regular session, which lasted a total of 24 days from November 22 to December 15.

During this regular session, the county council handled a total of 34 agenda items, including the 2022 main budget, council operations, and ordinances related to public welfare issues.

First, on the 13th, the Budget and Accounts Special Committee held a review of the budget proposal submitted by the executive branch, cutting 787 million KRW from nine projects and converting the entire amount into contingency funds. On the 15th, the 3rd plenary session of the 271st 2nd regular session finalized the 2022 main budget.

Accordingly, the scale of Hampyeong County’s 2022 main budget revenue and expenditure is 471.8 billion KRW, an 8.78% increase from the 433.7 billion KRW main budget of 2021.

Next year’s revenue budget includes local taxes of 23.4 billion KRW, local allocation tax of 218 billion KRW, subsidies of 189.6 billion KRW, among others, totaling an increase of 38.7 billion KRW compared to the previous year.

As for the expenditure budget, it was allocated as follows: ▲Agriculture, Forestry, Marine, and Fisheries sector 122.8 billion KRW (27%) ▲Social Welfare sector 89 billion KRW (19%) ▲Environment sector 64.1 billion KRW (14%) ▲Culture and Tourism sector 27.2 billion KRW (6%).

Chairman Kim Hyung-mo urged the executive branch, saying, “Considering the difficult financial conditions of our county, we reviewed the budget focusing on the efficiency of financial management and taking into account the validity and urgency of projects,” and added, “Please do your best to execute the budget efficiently for the development of the region and a better life for the residents.”

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