Yeongam-gun, Largest Supplementary Budget Ever Formed... Surpassing 800 Billion Won

Held Consecutive Deliberations on Financial Plan Disclosure, Subsidy Management, and Service Review Committee

Supporting Yeongam Residents and Farmers, Fostering Agricultural Life Industry, Establishing Ecotourism Brand

Yeongam-gun, Jeollanam-do (Governor Woo Seung-hee) has prepared the '2023 Fiscal Year 2nd Supplementary Budget' at a record high scale of 800.9 billion KRW.

According to the county on the 12th, this amount is an increase of 7.6 billion KRW, or 10.49%, compared to the 1st supplementary budget of 724.9 billion KRW this year, marking the first time Yeongam-gun's supplementary budget has surpassed 800 billion KRW.

The general account increased by 10.62% to 725.6 billion KRW compared to the 1st supplementary budget, other special accounts increased by 17.14% to 11.8 billion KRW, and public enterprise special accounts increased by 7.91% to 63.4 billion KRW.

Yeongam-gun Office Building Exterior View

To enhance the transparency of the budget, Yeongam-gun consecutively held the Local Finance Plan Disclosure Review Committee, Local Finance Investment Review, Subsidy Management Committee, and Service Review Committee from the 21st to the 27th of last month.

The newly formed expert budget committee members conducted a thorough review of Yeongam-gun’s supplementary budget and approved the final plan.

By function, the budget is divided as follows: △ Agriculture, Forestry, Marine, and Fisheries 26.5 billion KRW △ Culture and Tourism 12.2 billion KRW △ Land and Regional Development 10.7 billion KRW △ Environment 7.0 billion KRW △ General Public Administration 6.3 billion KRW, in order.

Yeongam-gun explained that the supplementary budget was prepared focusing on building an ecological tourism brand utilizing the national park Wolchulsan and fostering a sustainable agricultural life industry.

Furthermore, another focus is on supporting Yeongam residents and farmers suffering from high inflation and high interest rates due to the ongoing Ukraine war, emphasizing income stabilization through the supplementary budget.

Key items supporting residents include △ Rice management stabilization measures 4.5 billion KRW △ Creation of eco-friendly agricultural complexes 2.7 billion KRW △ Fertilizer price stabilization support 2.2 billion KRW △ Crop disaster insurance premium support 2.0 billion KRW △ Dalmaji rice and organic rice production incentives 700 million KRW △ Agricultural electricity and tax-free fuel support 600 million KRW.

Additionally, to revitalize the local economy and improve living conditions, the budget includes 1.5 billion KRW for the construction of a family complex center, 1.1 billion KRW for the city gas supply project, 1.0 billion KRW for supporting the issuance of Yeongam Love gift certificates, 800 million KRW for renewable energy convergence support projects, and 500 million KRW for the undergrounding project of Jungang-ro in Yeongam-eup.

For making Yeongam a better place to run a business, the budget includes 900 million KRW for the Daebul Industrial Complex undergrounding project, 1.0 billion KRW for the Motorpia sports tourism specialization project, 900 million KRW for the construction of a shipbuilding and marine structure management platform, and 700 million KRW for supporting specialized smart factories in shipbuilding and marine industries.

Moreover, to prepare for future administrative demands and expand cultural enjoyment opportunities for Yeongam residents, funds were allocated for purchasing idle land of closed industrial facilities (3.9 billion KRW), public office land acquisition (2.0 billion KRW), glass greenhouse and land acquisition (1.7 billion KRW), creative convergence education center land acquisition (1.0 billion KRW), Yeongam-eup plaza building and land acquisition (600 million KRW), and additional purchase of food specialty shopping districts (500 million KRW).

A county official stated, “Although there were difficulties due to increased national and provincial government burden charges, the supplementary budget was prepared to support the livelihoods of Yeongam residents suffering from the stagnant economy and to revitalize the local economy. We will ensure that this budget serves as a stepping stone for the county administration’s slogan, ‘A Greater Yeongam Leaping Forward through Innovation.’”

The Yeongam County Council is scheduled to hold the 300th extraordinary session starting on the 17th of this month to review and approve the 2nd supplementary budget for this year.

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