Hampyeong-gun Prepares 504.3 Billion KRW Main Budget for Next Year... Submitted to County Council

1.47% Decrease Compared to Previous Year, Focus on Regional Economic Recovery

Hampyeong-gun, Jeollanam-do, has prepared the 2024 main budget at 504.3 billion KRW, a 1.47% decrease compared to the previous year, amid difficult circumstances such as low national tax revenue and stagnation in real estate transactions, which are expected to reduce local allocation tax and self-generated revenue, and submitted it to the county council.

According to the county on the 13th, the next year's main budget was prepared reflecting essential pending projects for Hampyeong's future development and improvement of residents' quality of life, as well as resident-centered key policy projects for regional economic recovery and welfare policies for vulnerable groups.

The total budget size is 504.3 billion KRW, with 495.2 billion KRW in the general account and 9.1 billion KRW in the special account, representing a decrease of about 7.5 billion KRW (1.47%) compared to this year's main budget of 511.8 billion KRW.

First, the agriculture, forestry, marine, and fisheries sector accounted for the largest share at 144.9 billion KRW (29.27%).

It includes 23.1 billion KRW for the Public Interest Direct Payment Project, 4.5 billion KRW for the Jeonnam-type Farmer and Fisherman Public Interest Allowance Support, 7 billion KRW for the Hampyeong-eup Rural Hub Revitalization Project, and 4 billion KRW for the Seokchang Port Fishing Village New Deal 300 Project, aiming to promote the development of the agriculture and fisheries sector, which forms the foundation of the local economy.

Next, 104.6 billion KRW (21.13%) was allocated to the social welfare sector, including 40.8 billion KRW for basic pensions, 8.9 billion KRW for livelihood benefits for recipients of the National Basic Livelihood Security, and 3.3 billion KRW for the Senior Customized Care Service Project, strengthening the welfare safety net for vulnerable groups.

The environment sector was allocated 61.9 billion KRW (12.50%), reflecting 12.9 billion KRW for the Hampyeong-eup Sewerage Priority Management Maintenance Project, 8.9 billion KRW for the Hampyeong Public Sewage Treatment Area Sewer Pipeline Maintenance Project, 5.2 billion KRW for the Hakgyo-myeon Sewerage Priority Management Maintenance Project, and 3.2 billion KRW for the Hampyeong Daedong Dam Surrounding Ecological Trail Creation Project.

In particular, as a result of steadily promoting the national subsidy projects for water supply and sewage, a significantly larger project budget than this year was secured, which is expected to give more momentum to Hampyeong-gun's water supply and sewage projects.

The culture and tourism sector was allocated 33.3 billion KRW (6.73%), budgeting 3.5 billion KRW for the Edutainment Park Creation Project, 3 billion KRW for the Culture and Arts Center, 2 billion KRW for the Sports Town Creation Project, 5.7 billion KRW for the Indoor Swimming Pool Construction, and 1.7 billion KRW for the Wolya Indoor Gymnasium Construction Project, aiming to expand the insufficient cultural facility infrastructure and improve residents' cultural welfare.

County Governor Lee Sang-ik said, "In this difficult situation where revenue is decreasing due to the economic downturn, we have carried out structural adjustments in current expenditure and are making every effort to secure budgets such as national and provincial subsidies," adding, "We will continue to do our best in budget securing and preparation to enhance residents' convenience and revitalize the stagnant local economy."

Meanwhile, the submitted 2024 main budget will be finalized on the 12th of next month after approval by the county council.