Mokpo City Prepares for Hometown Love Donation System... Including Tax Deductions and Other Benefits

Focus on forming and operating practical consultative bodies, developing return gifts, and linking regional revitalization

[Asia Economy Honam Reporting Headquarters Reporter Jeong Seunghyun] Mokpo City, Jeollanam-do is making thorough preparations for the Hometown Love Donation System, which is set to be implemented next year.

According to the city on the 22nd, the Hometown Love Donation System is a program where individuals can donate to local governments other than their place of residence and receive tax deductions and return gifts. It will be implemented in January 2023.

With the system's implementation just over eight months away, the city plans to operate a working council composed of three subcommittees?planning and promotion, operational support, and return gift development?led by the deputy mayor until the end of the year. The first meeting was held on the 21st.

The city plans to focus on ▲ creating a donation-friendly environment through sufficient promotion and relationship building ▲ linking regional revitalization by utilizing tourism resources, and ▲ discovering Mokpo-style attractions (customized return gifts, marketing strategies) that can induce voluntary and continuous donations.

The fundraising entity is the local government, and donations are capped at 5 million KRW per person annually. The donated funds can be used for welfare enhancement projects such as supporting vulnerable groups, fostering and protecting youth, and promoting culture, arts, and health for local residents.

The Hometown Love Donation System offers donors tax deduction benefits and allows up to 30% of the total donation amount to be provided as return gifts such as local specialties. This is expected to open a new market called the "return gift market," helping increase residents' income.

The city plans to develop various products reflecting Mokpo’s unique characteristics, including experience vouchers and accommodation vouchers utilizing tourism resources, in addition to local specialties as return gifts.

Once the enforcement decree for the Hometown Love Donation System is enacted and the standard ordinance is distributed, the city will work on establishing ordinances, setting up funds and committees, and building a comprehensive information system to ensure the smooth implementation of the system by preparing the institutional foundation accordingly.

A city official stated, “We hope the Hometown Love Donation System will spread a culture of giving and serve as an opportunity to revitalize the local economy, which has been weakened by COVID-19. We will thoroughly prepare in advance to ensure the successful establishment of the donation system.”

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