Yeongam County Finalizes 2025 Main Budget at 711.4 Billion Won

Top Priorities: Stabilizing Livelihoods and Revitalizing the Local Economy

Yeongam County, Jeollanam-do (Governor Woo Seunghee) has finalized its main budget for 2025 at 711.4 billion KRW.

According to the county on the 26th, this figure represents an increase of 62.5 billion KRW, or 9.63%, compared to this year's main budget of 649 billion KRW, surpassing the 700 billion KRW mark for the first time as a single main budget. The general account stands at 648.2 billion KRW, up 58.1 billion KRW (9.85%), while the special account is 63.2 billion KRW, an increase of 4.4 billion KRW (7.42%).

Despite the government's fiscal tightening policy, the county has structured its budget to maintain sound finances while focusing on stabilizing livelihoods and preparing for the future, aiming to realize the achievements of the 8th popularly elected administration's innovative policies.

Yeongam County Office Building Exterior View

In particular, to make bold investments in residents' lives and the region's future, the county has re-examined conventional support projects, similar or overlapping projects, and underperforming projects from scratch, focusing on the feasibility and effectiveness of fiscal projects, thereby blocking factors that could lead to fiscal leakage.

On the revenue side, the county estimates 62 billion KRW in local taxes, 28.9 billion KRW in non-tax revenues, 285 billion KRW in local allocation taxes, and 7.3 billion KRW in extinction response funds. National and provincial subsidies have been secured at 268 billion KRW, up 22.8 billion KRW (9.3%) from last year's 245.2 billion KRW.

By major sector, 180.1 billion KRW has been allocated to agriculture, forestry, maritime, and fisheries to drive agricultural transformation and realize the Yeongam-style advanced agriculture. This includes: 40.1 billion KRW for the basic public direct payment system, 6.7 billion KRW for public benefit allowances for farmers and fishermen, 5.8 billion KRW for the creation of region-specialized rental smart farms, 5.7 billion KRW for high-quality rice distribution activation projects, 5 billion KRW for crop disaster insurance support, 3 billion KRW for rice price stabilization and recommended variety unification incentives, and 500 million KRW for labor-saving agricultural materials (mulching film) support projects.

Yang Hoegon, Director of Planning and Audit, stated, "Although there were difficulties in the budget formulation process due to the unprecedented national tax revenue shortfall and the resulting reduction in local allocation taxes, we focused on solidifying the foundation for the region's future growth."

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