Yeongam-gun, 724.9 Billion KRW Allocated for the 1st Supplementary Budget Proposal

13.01% Increase of 83.5 Billion KRW Compared to the Original Budget

Yeongam-gun, Jeollanam-do has prepared the first supplementary budget for the 2023 fiscal year amounting to 724.9 billion KRW.

According to the county on the 16th, this represents an increase of 83.5 billion KRW, or 13.01%, compared to the original 2023 budget of 641.4 billion KRW. The budget actively reflects allocations focused on innovation, population, and youth policies to promote regional economic recovery and stabilize farming households.

Yeongam-gun Office Building Exterior
[Photo by Yeongam-gun]

By account type, the general account increased by 73.8 billion KRW (12.67%) to 656.0 billion KRW compared to the original budget, other special accounts decreased by 0.4 billion KRW (3.43%) to 10.1 billion KRW, and public enterprise special accounts increased by 10.1 billion KRW (20.64%) to 58.8 billion KRW, resulting in an overall budget increase of 83.5 billion KRW (13.01%).

By function, the budget was allocated as follows: △ Agriculture, Forestry, Marine, and Fisheries 24.6 billion KRW △ Environment 17.9 billion KRW △ Land and Regional Development 14.9 billion KRW △ Culture and Tourism 8.9 billion KRW △ Public Order and Safety 7.2 billion KRW. The focus was on leading a youth-friendly future economy, establishing an ecological tourism brand utilizing Wolchulsan National Park, and fostering a sustainable agricultural life industry.

In particular, this supplementary budget includes 5.8 billion KRW in emergency disaster living expenses to support residents and revitalize the local economy amid difficulties caused by COVID-19 and rising international oil prices. It also allocates 8.9 billion KRW for livelihood stabilization funds and culling compensation due to the spread of AI infectious disease, and 3.9 billion KRW for incentives to stabilize rice prices, placing significant emphasis on realizing Yeongam as the forefront of the agricultural life industry through income stabilization for farming households.

Additionally, in response to the 4th Industrial Revolution and population decline, various research service expenses were allocated to establish Yeongam-gun tourism promotion plans, develop a master plan for the Cheonhwangsa district tourism development, conduct feasibility studies for hosting the Korea National Park Expo, formulate Yeongam-gun public design promotion plans, and revitalize Samho Market along with establishing basic plans, thereby laying a solid foundation for a sustainable and innovative future for Yeongam.

A county official stated, “During the budget preparation process, we reflected budgets aimed at supporting residents and revitalizing the local economy, which are struggling due to the economic downturn.” He added, “Facing a major transition period with the 4th Industrial Revolution, population decline, and climate crisis, the budget was prepared focusing on key policies of the 8th elected administration to improve quality of life and residents’ happiness.”

He further added, “We will do our best to ensure that this budget serves as a stepping stone for building a greater Yeongam that leaps forward through innovation.”

Meanwhile, the Yeongam-gun Council is scheduled to open the 297th extraordinary session from the 22nd to review and approve the first supplementary budget for 2023.

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