Geochang-gun, Prepares 845.4 Billion KRW for the 2nd Supplementary Budget Proposal

Focus on Stabilizing Residents' Lives and Revitalizing the Local Economy

Geochang County Office building exterior view

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam Province, submitted the second supplementary budget proposal for 2022 to the Geochang County Council on the 12th, totaling 845.4 billion KRW, which is an increase of 102.4 billion KRW from the first supplementary budget of 743 billion KRW.

The general account of the second supplementary budget proposal submitted this time increased by 98.9 billion KRW to 775 billion KRW, and the special account increased by 3.5 billion KRW to 70.4 billion KRW.

The main revenue sources are ▲local allocation tax increased by 74.4 billion KRW ▲adjustment grants increased by 11.7 billion KRW ▲national subsidies increased by 14.1 billion KRW, securing 638.3 billion KRW of dependent resources, which is an increase of 15.7% or 100.2 billion KRW compared to the first supplementary budget. This enabled an additional 30 billion KRW to be set aside in the fiscal stabilization fund reserved for promoting large-scale projects for a greater leap forward in Geochang.

This supplementary budget proposal reflects the government’s supplementary budget and focuses on stabilizing the lives of residents who are experiencing economic difficulties due to inflation, and is organized mainly around essential projects that must be promoted to realize the administrative tasks of the 8th elected term.

First, in preparation for the resurgence of COVID-19, it actively supports the safe recovery of daily life by reflecting ▲22 billion KRW for COVID-19 related living support expenses ▲9 billion KRW for COVID-19 isolation hospitalization treatment expenses ▲1 billion KRW for temporary support of rapid antigen testing equipment for vulnerable groups.

In addition, to stabilize the lives of vulnerable groups, it includes ▲16 billion KRW for emergency living stabilization support for low-income households ▲10 billion KRW for income stabilization funds for bus and taxi drivers ▲1 billion KRW for small business owners’ small-scale management environment improvement projects ▲1 billion KRW for special temporary support for youth monthly rent, and to stabilize agricultural product prices, it includes ▲15 billion KRW for fertilizer price stabilization support projects ▲1 billion KRW for crop stabilization support projects.

For disaster response and safe living, it includes ▲19 billion KRW for disaster risk area maintenance projects ▲18 billion KRW for road maintenance and expansion projects ▲12 billion KRW for smart city safety network integrated platform construction projects ▲9 billion KRW for local river maintenance projects ▲6 billion KRW for Jeongjangcheon bicycle and pedestrian bridge installation projects.

Major investment projects include ▲6.4 billion KRW for Geochang County office extension projects ▲2.1 billion KRW for Geoyeolsanseong access road construction ▲1.3 billion KRW for future agriculture complex education center construction ▲1.1 billion KRW for all-weather sports facility expansion ▲1 billion KRW for rural foreign worker dormitory construction support ▲1 billion KRW for small school revitalization projects ▲800 million KRW for Gabuk Yongsan forest maintenance projects ▲800 million KRW for urban regeneration projects.

Governor Goo In-mo said, “The second supplementary budget proposal was organized with the highest priority on stabilizing the lives of residents experiencing economic difficulties due to COVID-19 damage and inflation, and on recovering the local economy. We will thoroughly prepare in advance to ensure that the necessary pending projects can be executed promptly and do our best to operate the finances more soundly and balanced.”

Meanwhile, the second supplementary budget proposal for 2022 submitted this time will be approved and finalized at the 265th regular meeting of the Geochang County Council starting on the 23rd.