Yeongam-gun, 641.8 Billion KRW Draft Budget for Next Year Formulated
2.3% Increase from Previous Year (14.5 Billion KRW)
[Asia Economy Honam Reporting Headquarters Reporter Lee Jun-kyung] Yeongam County announced on the 23rd that it has prepared the 2023 main budget amounting to 641.8 billion KRW and submitted it to the Yeongam County Council.
The main budget for next year increased by 14.5 billion KRW (2.3%) compared to this year, with the general account set at 582.2 billion KRW, other special accounts at 10.4 billion KRW, and public enterprise special accounts at 49.2 billion KRW.
By function, the budget was allocated as follows: ▲ Agriculture, Forestry, Marine, and Fisheries sector 154 billion KRW (23.99%) ▲ Social Welfare sector 142.9 billion KRW (22.27%) ▲ Environment sector 79.2 billion KRW (12.34%) ▲ Land and Regional Development sector 65.3 billion KRW (10.18%).
Additionally, 46.7 billion KRW was allocated for basic pensions, 4.7 billion KRW for child and youth welfare enhancement such as providing eco-friendly meals, and 16.3 billion KRW for elderly and community activity job support projects.
Other allocations include ▲ Support for vulnerable groups 11.1 billion KRW ▲ Disability welfare support 11.4 billion KRW ▲ Agricultural direct payments 37.5 billion KRW ▲ Public service allowances for farmers and fishermen 6.7 billion KRW ▲ Crop disaster insurance premiums 2.7 billion KRW ▲ Quarantine projects 1.5 billion KRW ▲ Joint pest control 1.7 billion KRW.
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A county official stated, “We have significantly expanded revenue with 268 billion KRW in ordinary local allocation tax, 19.3 billion KRW in real estate allocation tax, 11 billion KRW in adjustment grants, and 211.8 billion KRW in national subsidies. Facing a major transition period such as the 4th Industrial Revolution, population extinction, and climate crisis, the budget was prepared focusing on essential policies of the 8th elected administration to improve quality of life and citizen happiness.”
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