“Love Your Hometown” … Changwon Special City Announces Legislative Notice for ‘Hometown Love Donation Ordinance’

Preparations for Next Year's Hometown Love Donation Program Progressing Smoothly

Changwon City Hall, Gyeongnam.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] Changwon Special City in Gyeongnam has established detailed regulations on return gifts and hometown love funds ahead of the implementation of the 'Hometown Love Donation System' on January 1, 2023.

Since the 23rd, the city has prepared and publicly announced the draft ordinance on the 'Collection and Operation of Hometown Love Donations' and is collecting opinions until October 13.

The draft ordinance includes matters related to the Return Gift Selection Committee and the selection of return gifts, delegation of affairs related to hometown love donations, establishment and operation of the hometown love fund, and the composition and operation of the hometown love fund management committee.

The Hometown Love Donation System allows donors to receive a full tax credit on donations up to 100,000 KRW and a 16.5% tax credit on amounts exceeding 100,000 KRW when donating to local governments such as their hometown rather than their registered address. Donors can contribute up to 5 million KRW annually and receive local specialty products worth up to 30% of the donation amount as return gifts.

The city plans to submit the ordinance to the Changwon City Council in October, and once the ordinance is promulgated and enforced in November, it will form a Return Gift Selection Committee to select suppliers who can provide local specialty products, including the city’s agricultural, fishery, and livestock products, as return gifts, thereby promoting local economic revitalization.

Park Young-mi, Director of the Department of Autonomy and Decentralization, stated, “The hometown love donation system is a means to foster patriotism among expatriates and supplement the poor local finances, and through the provision of return gifts, it can also contribute to the revitalization of the local economy and community.” She added, “We will actively promote differentiated targets before the system is implemented and make thorough preparations to ensure the successful establishment of the Hometown Love Donation System.”

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