Gochang-gun Prepares 750.5 Billion KRW Budget Proposal for Next Year

Published 23 Nov.2022 09:33(KST)

[Gochang=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeonbuk Gochang-gun has prepared a 2024 budget proposal of 750.5 billion KRW, reflecting the direction of the 8th elected administration’s governance, aiming to lead the recovery of the local economy in the prolonged COVID-19 era, and has requested review by the Gochang County Council.

According to the county on the 23rd, the next year’s budget proposal is 3.93% higher than this year’s original budget, focusing on revitalizing the local economy while emphasizing youth policies and tourism industry development.

In particular, in celebration of the ‘2023 World Heritage City Gochang Visit Year,’ additional budget has been allocated to expanding tourism infrastructure and various projects related to sightseeing, food, and entertainment.

First, to achieve a ‘prosperous rural and fishing village where everyone lives well,’ a total of 178 billion KRW has been allocated to agriculture, forestry, and marine sectors.

Key projects include the Basic Public Interest Direct Payment Project (47.2 billion KRW), Gori and Sangpo area Fishing Village New Deal Project (6.9 billion KRW), and expanded support for crop disaster insurance subscription fees (2.5 billion KRW).

The subsidy rate for 26 county-supported projects in agriculture and livestock sectors, such as small and medium-sized agricultural machinery support and low-temperature storage facility support, has been raised from the previous 40% to 50% to minimize farmers’ burdens.

Several new projects, including support for eco-friendly electric transport vehicles and village drone pest control projects, are also expected to be actively implemented.

Investment to create a business-friendly environment and attract eco-friendly ESG companies has also been expanded, including an increase in investment company subsidy funds (2.5 billion KRW), expanded special guarantees and loans for small business owners (2 billion KRW), and expanded loans for corporate operating funds (700 million KRW).

To continuously operate the local currency, which has received strong support from local small business owners, 9.4 billion KRW in county funds has been prioritized for the issuance of 70 billion KRW worth of Gochang Love Gift Certificates, drawing attention.

A budget of 54.7 billion KRW has been allocated for the ‘No.1 cultural tourism destination to enjoy and experience.’

Key allocations include the Dalbit Noeul Yanggosaljae Development Project (2.8 billion KRW), the County Art Museum Construction Project (2.5 billion KRW), and the Munsusan Surrounding Tourism Resource Development Project (1 billion KRW).

The World Heritage Media Art Project for the Dolmen Site and the advanced CT demonstration project linked to the 50th Moyeongseong Festival have been allocated 1.7 billion KRW and 1.6 billion KRW respectively, raising expectations for next autumn’s festival.

Disaster and safety-related projects include maintenance of five natural disaster risk improvement districts (11.3 billion KRW), maintenance of 10 local and small rivers (16.5 billion KRW), and disaster-risk reservoir maintenance projects (2.5 billion KRW), with focused investment.

The comprehensive flood damage living zone maintenance project in the Sangha area, with a total project cost of 34.2 billion KRW, will be fully implemented from next year, and the national veterans’ allowance will be increased by 20,000 KRW.

In celebration of the ‘2023 World Heritage City Gochang Visit Year,’ the county plans to leap forward as a global tourism city by allocating about 14 billion KRW to various projects including tourism infrastructure construction, landscape creation, and cultural and artistic performances.

County Governor Shim Deokseop said, “I hope that next year’s budget proposal, despite the difficult economic conditions, will become a beacon of hope for residents and serve as the first main budget presenting a new vision for the development of Gochang’s 8th elected administration, revitalizing the local economy.”

He added, “Through the World Heritage City Gochang Visit Year, we will provide relaxation and happiness to people exhausted by COVID-19 and invigorate the stagnant tourism industry.”

Meanwhile, the 2024 Gochang County budget proposal is scheduled to be finalized after review and approval by the Gochang County Council by the 16th of next month.