Damyang-gun Increases First Supplementary Budget of the Year by 51.1 Billion Won

10.5% Increase Compared to Original Budget... 540 Billion Won Scale

Jeonnam Damyang-gun (Governor Lee Byeong-no) announced on the 20th that it has prepared the 1st supplementary budget proposal and submitted it to the county council.

With the preparation of the 1st supplementary budget proposal, this year's budget has increased by 10.5% from the original budget of 488.9 billion KRW to 540 billion KRW. By account, the general account increased by 51 billion KRW (10.61%) and the special account by 100 million KRW (1.9%).

This supplementary budget proposal reflects projects focused on accelerating key priority projects promised to the residents as the 3rd year of the 8th elected term begins, and projects aimed at revitalizing the local economy.

It also includes projects for issuing local bonds (4 projects, 7.6 billion KRW) to cover the shortfall in fiscal revenue due to the decrease in local allocation tax and to complete ongoing large-scale projects, as well as projects funded by the Local Extinction Response Fund (9 projects, 6.4 billion KRW) to respond to population decline and the risk of local extinction.

Expenditure budgets increased in the following order: agriculture sector by 16.4 billion KRW, land and regional development by 6.6 billion KRW, transportation and logistics by 6.5 billion KRW, culture and tourism by 5.5 billion KRW, and social welfare by 4.8 billion KRW.

Major projects in the general account expenditure include ▲ remodeling of the rural complex senior welfare town 800 million KRW ▲ operation of the Senior Club 300 million KRW ▲ Damyangho waterfront trail construction project 700 million KRW ▲ Damyang Love Gift Certificate special discount sales compensation 1.4 billion KRW ▲ Damyang Market reconstruction 2.3 billion KRW ▲ Changpyeong Traditional Market reconstruction 800 million KRW ▲ Regional Vitality Town development 1.7 billion KRW ▲ New and renewable energy convergence support project 2.8 billion KRW ▲ Agricultural product distribution center construction 1.8 billion KRW ▲ Agricultural worker dormitory construction 1 billion KRW ▲ Rice management stabilization support 2.5 billion KRW ▲ Cadastral readjustment adjustment fund 1.8 billion KRW ▲ Support for emergency medical institutions in vulnerable areas 400 million KRW, among others.

Projects planned for local bond issuance include ▲ city gas supply project 2.4 billion KRW ▲ local water supply modernization project 1.3 billion KRW ▲ relocation and expansion of Singye Water Purification Plant and installation of water treatment facilities 2.7 billion KRW ▲ expansion of the living resource recovery center 1.2 billion KRW, totaling four projects.

Local Extinction Response Fund projects include ▲ construction of the residents' sports center 1.5 billion KRW ▲ development of Regional Vitality Town 1 billion KRW ▲ Mirisan neighborhood park construction project 1 billion KRW ▲ new construction of Damyang Self-Support Center 1.5 billion KRW ▲ youth farmer cultivation 800 million KRW, among nine projects.

A county official stated, “This 1st supplementary budget proposal was prepared focusing on completing major pending issues and projects to revitalize the stagnant local economy for the creation of a ‘happy self-reliant economic city for all.’ We will strive to ensure that the planned projects proceed without any setbacks once the budget is finalized.”

The 2024 1st supplementary budget proposal submitted to the Damyang County Council will be finally approved at the plenary session on April 2 after deliberation by the council.