Sacheon-si, Smooth Preparation for Hometown Love Donation Program

Annual Donation Limit of 5 Million KRW... A System for Tax Credits and Thank-You Gifts

Hometown Love Donation Program Card

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sacheon City, Gyeongnam Province, has officially begun preparations to promote and implement the "Hometown Love Donation System" following the enforcement of the "Act on Hometown Love Donations" starting January 2023.

The "Hometown Love Donation System" allows individuals to donate up to 5 million KRW annually to metropolitan or basic local governments other than their place of residence, receiving tax credits and return gifts in return.

For donation amounts, the first 100,000 KRW is fully tax-deductible, and amounts exceeding 100,000 KRW receive a 16.5% tax credit. Local governments may provide return gifts such as local specialty products or local love gift certificates worth up to 30% of the donation amount to donors.

To promote the Hometown Love Donation System, Sacheon City formed a preparation task force in March led by the vice mayor, undertaking preliminary work such as enacting ordinances, establishing funds, and selecting return gifts to ensure full implementation of the system.

Additionally, to publicize the system, the city plans to actively conduct offline promotional activities by posting promotional materials on the city website, official social media channels (SNS), indoor and outdoor electronic billboards, and distributing leaflets at financial institutions, all town and township offices, and various events.

In particular, during the Chuseok holiday period, banners will be displayed throughout the city to actively promote the implementation of the Hometown Love Donation System to expatriates visiting their hometown and local citizens.

The city intends to use the hometown love donations to support various projects aimed at improving residents' welfare, including ▲support for socially vulnerable groups ▲youth development and protection ▲advancement of culture, arts, and health sectors ▲revitalization of local communities, thereby supplementing the strained local finances and focusing on revitalizing the regional economy.

A city official stated, "We will actively promote the Hometown Love Donation System, which will be implemented for the first time in January next year, encouraging interest and participation from expatriates and citizens. We will do our best to expand the strained local finances, promote balanced regional development, and create a happy city of Sacheon."

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