Hamyang-gun Submits 650.5 Billion Won Budget Proposal for Next Year to County Council

Promotion of Core Policies for Establishing a Sustainable Growth Foundation

Hamyang County in Gyeongnam announced on the 21st that it has prepared the initial budget for 2024 at a scale of 650.5 billion KRW and submitted it to the county council.

According to the county, the 2024 budget plan is 32.5 billion KRW (5.26%) larger than this year's initial budget (618 billion KRW), with the general account increasing by 16.5 billion KRW (2.89%) to 589.2 billion KRW, and the special account increasing by 16 billion KRW (35.21%) to 61.2 billion KRW.

This budget plan actively utilized 27 billion KRW from the Integrated Fiscal Stabilization Fund, which had been reserved as surplus funds, to ensure that ongoing projects proceed without disruption amid an unprecedented reduction in local allocation tax due to a decrease in government tax revenue.

Hamyang County Office.

Anticipating financial difficulties from the beginning of the year, the county made every effort to secure national and provincial subsidies through continuous visits to central government departments, resulting in an increase of 13.1 billion KRW in national and provincial subsidies compared to this year, supporting smooth project implementation.

By expenditure sector, the agricultural, forestry, marine, and fisheries sector was the largest at 145 billion KRW, followed by social welfare at 115.6 billion KRW (17.78%), environment at 66.5 billion KRW (10.23%), general public administration at 58.6 billion KRW (9.02%), and land and regional development at 48.2 billion KRW (7.42%).

Major projects in the agricultural, forestry, marine, and fisheries sector include the Hamyang 4 Seasons 4U Development Project with 1.6 billion KRW and seasonal worker dormitory operation with 1.3 billion KRW. In the social welfare sector, the Dream Voucher Support project received 1.5 billion KRW. Environmental projects include 4.7 billion KRW for livestock manure public treatment facility improvement and 3.4 billion KRW for rural living water development.

In general public administration, 1.2 billion KRW was allocated for the Smart Village Distribution and Expansion Project and 1 billion KRW for the Youth Village Shared Housing Creation Project. For land and regional development, 3.5 billion KRW was allocated for the Nongwoljeong Tourist Site Linked Facility Construction Project and 700 million KRW for the Hamyang Cultural Welfare Urban Infrastructure Construction Project.

Additionally, in culture and tourism, 3 billion KRW was allocated for the second phase of the Hamyang Sports Park Construction Project and 2.8 billion KRW for the Namgye Seowon Education Experience Center Construction Project. In the industry, small and medium enterprises, and energy sectors, 3.3 billion KRW was allocated for the Public Development Operation Project and 1.6 billion KRW for the Local Commercial District Revitalization Project.

In transportation and logistics, 2.6 billion KRW was allocated for the Hamyang-eup Yongpyeong Public Parking Lot Construction Project. In health, 300 million KRW was allocated for the 365 Safe Ward Project. In education, 1.1 billion KRW will be invested in talent development support projects such as small school program activation and academic achievement improvement programs.

County Governor Jin Byeong-yeong stated, “As a decrease in local allocation tax is expected due to sluggish national tax revenue, this is a more challenging time than ever, and securing new revenue sources is urgent. We have actively worked to secure the budget, including obtaining 19 billion KRW for the 2024 Local Extinction Response Fund. We prepared the budget after multifaceted reviews to maintain a sound fiscal policy by building a sustainable growth foundation and reducing unnecessary expenditures through expenditure restructuring.”

Meanwhile, the initial budget plan will undergo review by the county council and final examination by the Budget and Accounts Special Committee, and is scheduled to be confirmed at the county council plenary session on December 19.

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