[2024 Budget] Ministry of the Interior and Safety's 72.1 Trillion Won Budget Plan for Next Year... 10.4% Reduction

Local Allocation Tax Reduced by 8.5 Trillion Won
Regional Economy Also Down by About 5 Trillion Won

The Ministry of the Interior and Safety announced on the 29th that it has prepared a budget of 72.0945 trillion won for 2024. This is a 10.4% (8.3933 trillion won) reduction compared to this year’s budget of 80.4878 trillion won. In particular, the local allocation tax has been drastically reduced by about 5.5 trillion won next year.

The largest cut in next year’s Ministry of the Interior and Safety budget is in the local allocation tax. The local allocation tax, which was 75.2883 trillion won this year, has been set at 66.7711 trillion won for next year. This decrease of 8.5172 trillion won is expected to increase the burden on local governments accordingly.

However, the Ministry has allocated 4.9242 trillion won for the '4 Major Project Expenses' it is focusing on, which is about 110 billion won more than this year’s 4.8145 trillion won.

First, disaster safety has been allocated 1.8939 trillion won, an increase of about 730 billion won compared to this year’s 1.1629 trillion won. In the disaster safety sector, following the 'Osong Underground Road Disaster,' 13.5 billion won has been allocated, an increase of 6.7 billion won, to expand automobile blocking facilities on flood-prone vulnerable roads. Additionally, the budget for maintenance projects to prevent large-scale damage such as flooding and collapse caused by natural disasters has been increased from 703.3 billion won this year to 862.9 billion won next year.

186 billion won will be invested in the advancement of the National Disaster Management Information System. Especially, 600 billion won has been allocated for disaster relief funds and damage restoration of public facilities to ensure the rapid stabilization of residents affected by disasters, which is 450 billion won more than this year.

A total of 792.5 billion won has been allocated for digital government innovation. Specifically, this includes ▲282 billion won (an increase of 15.3 billion won) for expanding mobile resident registration cards and Any-ID ▲3.4 billion won (an increase of 2.7 billion won) for building the Benefit Notification Service ▲16.3 billion won (an increase of 7.7 billion won) for establishing an integrated administrative service platform ▲75.8 billion won (an increase of 41.6 billion won) for cloud-native transformation.

The regional economy sector has been allocated 1.5195 trillion won, which is 526.4 billion won less than this year’s 2.0459 trillion won. The regional economy budget also includes 1 trillion won for the Local Extinction Response Fund.

Major budgets in the regional economy sector include ▲7.1 billion won (an increase of 1.9 billion won) for supporting population-decreasing areas ▲2 billion won (an increase of 500 million won) for building smart welfare safety communities in towns and townships ▲4.4 billion won (an increase of 1.8 billion won) for supporting the address information industry.

7.183 billion won has been allocated for social integration and other areas. This includes ▲2.2 billion won (an increase of 900 million won) for the National Violence Trauma Healing Center ▲4.5 billion won (newly allocated) for compensation related to the May 18 Democratic Movement.

Ha Byung-pil, Director of Planning and Coordination at the Ministry of the Interior and Safety, said, “The 2024 Ministry of the Interior and Safety budget plan has been actively streamlined by sector to ensure that the budget is concentrated on essential areas, and resources have been invested mainly in projects that the public can feel.” He added, “We plan to make our best efforts during the National Assembly’s review stage to have the government proposal reflected as originally intended.”

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