Suncheon-si Prepares in Advance for the 'Hometown Love Donation System' to be Implemented Next Year

Identifying Expatriates and Selecting Return Gifts Such as Local Specialties

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City, Jeollanam-do, announced on the 11th that it is making thorough preparations for the successful introduction of the ‘Hometown Love Donation System’ scheduled to be implemented from January next year.

The ‘Hometown Love Donation System’ is a system that provides tax credit benefits and return gifts from the respective local governments when donating to one’s hometown or a region they want to support, rather than their place of residence.

According to the Hometown Love Donation Act, donations can be made to local governments other than the address of residence within a limit of 5 million KRW per individual.

Donations of 100,000 KRW or less receive a full tax credit, and donations exceeding 100,000 KRW receive a tax credit of up to 16.5%.

Local governments provide return gifts such as local specialties produced or manufactured within their jurisdiction and local gift certificates that can contribute to revitalizing the local economy to promote donations.

The collected donations can be used to support socially vulnerable groups, foster and protect youth, and improve the welfare of local residents and communities.

The city is identifying return gifts that reflect the values of Suncheon and its expatriates for the successful introduction of the Hometown Love Donation System, and is preparing ordinances and system construction in line with the enactment of enforcement decrees.

A Suncheon city official said, “We will make the Hometown Love Donation System, which will be implemented from January next year, a driving force for regional development and a key element in revitalizing the local economy.”

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