Ulsan City Requests Over 100 Billion KRW Increase in Ordinary Local Allocation Tax... Full Effort for Next Year's Budget During Visit to Ministry of the Interior and Safety

"Support for Ulsan Far Below Its Contribution to National Finances"

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City has launched a final all-out effort to secure the maximum ordinary local allocation tax for next year.

On the 15th at 1 p.m., Seo Nam-gyo, Director of Planning and Coordination, will visit the Ministry of the Interior and Safety as his first external activity since taking office. Director Seo plans to meet with the head of the allocation tax department to request an increase in the ordinary local allocation tax for 2023.

Ulsan City has received an ordinary local allocation tax of 617.1 billion KRW this year, a 40.3% increase from last year, as the scale of the allocation tax has increased annually despite a slowdown in revenue growth over the past five years due to the shipbuilding industry crisis.

Next year, a decrease in local tax revenue is expected due to the impact of high interest rates and high inflation, making it crucial to secure the maximum ordinary local allocation tax for the smooth administration of the 8th elected term.

Director Seo Nam-gyo stated that since the total amount of local allocation tax for next year is expected to increase by 15.7% from 65 trillion KRW last year to 75.2883 trillion KRW, he will request an increase of more than 10 billion KRW in Ulsan City's ordinary local allocation tax for next year.

An official from Ulsan City explained, "We will emphasize that government support is too small compared to Ulsan's contribution to the national finances, and that the unstable tax revenue environment due to continuous population decline and crises in the three major industries requires us to lead the requested increase in support."

The ordinary local allocation tax for next year is currently in the final stage of local government data preparation and verification, and the amount will be decided in December this year after the Ministry of the Interior and Safety's calculation process.

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