Boseong-gun Secures Record High Ordinary Local Allocation Tax of 309.9 Billion Won

Boseong-gun Enters Era of 300 Billion Won in Ordinary Local Allocation Tax

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Boseong-gun, Jeollanam-do announced that it secured 309.9 billion KRW, the largest amount ever, through the 2023 ordinary local allocation tax, ushering in the era of 300 billion KRW in ordinary local allocation tax.

To secure the ordinary local allocation tax, Boseong-gun meticulously managed departmental statistical data annually, reduced current expenses, restructured expenditure budgets, and managed the collection of delinquent payments, resulting in securing the largest amount of ordinary local allocation tax ever.

Since his inauguration five years ago in the 7th term of the elected government, Kim Cheol-woo, the governor of Boseong-gun, has emphasized the importance of the local allocation tax through all-staff meetings and has shown special interest in revising the Local Allocation Tax Act.

Boseong-gun plans to actively invest the ordinary local allocation tax secured this time to build a ‘hopeful Boseong full of dreams and happiness.’

In particular, it will steadily promote projects such as high-income eco-friendly agriculture and forestry, a welfare society where happiness is shared, culture and tourism that highlight local characteristics, and regional economic job creation projects.

Additionally, it will invest project budgets in the city gas supply and retail pipeline route project, the Yulpo Marine Leisure Tourism Hub Development Project, as well as the national mudflat marine garden creation project, aiming to maximize Boseong-gun’s future vision projects.

A Boseong-gun official said, “The ordinary local allocation tax is a general fund that can be used independently, and we plan to prioritize investment in major pending projects to promote effective projects and create a successful model for local governments.”

Meanwhile, the Ministry of the Interior and Safety distributes the ordinary local allocation tax by setting adjustment rates for local governments whose standard financial revenue falls short of the standard financial demand, based on 90 statistical data items across 16 measurement categories for basic local governments.

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