Gyeonggi-do to Introduce 'Hometown Love Donation System' Next Year

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is introducing the 'Hometown Love Donation System.'

Gyeonggi Province announced on the 23rd that it has given prior legislative notice of the "Gyeonggi Province Hometown Love Donation Fundraising and Operation Ordinance," which reflects the delegated matters from the "Act on Hometown Love Donations" and the enforcement decree of the same law promulgated on the 13th, in preparation for the introduction of the Hometown Love Donation System in January next year.

The Hometown Love Donation System allows individuals to donate to local governments other than their place of residence. Local governments can use the donation funds to create a Hometown Love Fund to support vulnerable groups, youth support, and other resident welfare improvements. Individuals can donate up to 5 million KRW annually and receive return gifts such as local specialties within 30% of the donation amount. Additionally, donations of 100,000 KRW or less are fully tax-deductible, and 16.5% of the excess amount can be deducted. The ordinance includes provisions on the Return Gift Selection Committee and the selection of return gifts, delegation of donation-related affairs, establishment and operation of the Hometown Love Fund, and the composition and operation of the Fund Operation Deliberation Committee.

The province plans to collect opinions through the legislative notice until the 12th of next month and submit the ordinance to the Gyeonggi Provincial Council.

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