Establishing Ordinance on Hometown Love Donation Fundraising and Management as Basis for Promotion
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hamyang-gun, Gyeongnam is accelerating the implementation of the hometown love donation system as the related ordinance for the system's enforcement passed the 272nd Hamyang-gun Council 1st regular meeting.
The hometown love donation system will be implemented nationwide from January 1 next year. It is a system where donors who contribute to local governments other than their current address receive tax credit benefits and return gifts.
Donors can contribute up to 5 million KRW annually. Donations up to 100,000 KRW are fully tax-deductible, and amounts exceeding 100,000 KRW receive a 16.5% tax credit. Donors can receive return gifts such as local specialties within 30% of the donation amount.
The donated funds are pooled into a fund according to the Hometown Love Donation Act and used for purposes such as protecting socially vulnerable groups, fostering and protecting youth, promoting culture, arts, and health, revitalizing local communities, and improving residents' welfare.
An official from the county stated, "Based on the enacted ordinance, we plan to sequentially proceed with preparations for the system's implementation, including forming a return gift selection committee, selecting return gifts, and publicly recruiting return gift suppliers, to ensure there are no disruptions in fundraising."
County Governor Jin Byeong-yeong said, "The hometown love donation system is a measure that contributes to expanding local finances, revitalizing the regional economy, and improving residents' welfare, achieving a triple effect. We ask for the interest and voluntary participation of those who have left Hamyang so that it can serve as a catalyst for Hamyang's development."
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