197 Billion KRW Increase Compared to Last Year
Maintaining Local Fiscal Soundness
Yangsan City in Gyeongnam has prepared the 2025 budget proposal and submitted it to the Yangsan City Council on the 14th.
The budget size is 1.6965 trillion KRW, an increase of 19.7 billion KRW (1.18%) compared to this year's main budget, consisting of 1.527 trillion KRW in the general account and 169.5 billion KRW in the special account.
With a moderate recovery in the domestic and international economy and a favorable growth rate expected domestically, the revenue was conservatively estimated due to the high possibility of continued external uncertainties. Expenditures were focused on smooth project implementation by boldly investing in essential projects after thorough review of each sector.
Looking at the revenue budget, local taxes were set at 321.2 billion KRW, an increase of 3.7 billion KRW (1.17%) from this year, reflecting the increase in local consumption tax due to the rise in value-added tax revenue and the increase in local income tax due to wage rises. Non-tax revenue was set at 189.5 billion KRW, up 13.7 billion KRW (7.82%) from this year, with local allocation tax at 296 billion KRW, adjustment grants at 81.3 billion KRW, and national and provincial subsidies at 667.8 billion KRW.
By sector, the social welfare budget accounted for 610.7 billion KRW, or 36% of the total budget, followed by environment at 285.6 billion KRW (16.8%), transportation and logistics at 234.6 billion KRW (13.8%), general public administration at 93.2 billion KRW (5.5%), agriculture, forestry, marine and fisheries at 67 billion KRW (4.0%), culture and tourism at 64.8 billion KRW (3.8%), land and regional development at 55.6 billion KRW (3.3%), and industry, small and medium enterprises, and energy at 40.3 billion KRW (2.4%).
Major expenditure projects by sector in the social welfare budget include ▲Basic pension 172.5 billion KRW ▲Livelihood and housing benefits for national basic livelihood security recipients 89.9 billion KRW ▲Infant and Nuri curriculum childcare fees 42.1 billion KRW ▲Disability activity support benefits 30.2 billion KRW ▲Parental benefits 23.1 billion KRW ▲Child allowance 21.6 billion KRW ▲Senior job and social activity support projects 23.8 billion KRW ▲Welfare hub town construction 14.4 billion KRW.
In the environmental sector, the budget includes ▲Bukjeong drainage area urban flood prevention project 19.7 billion KRW ▲Sewer pipe maintenance projects in Habuk-myeon and three other areas 6.8 billion KRW ▲Bukjeong rainwater pump station non-point pollution reduction project 3.1 billion KRW ▲Biogas facility expansion project 2.9 billion KRW ▲Support for purchase of electric cars, trucks, and buses 15.8 billion KRW ▲Early scrappage 5.7 billion KRW ▲Hydrogen fuel cell vehicle distribution project 4.4 billion KRW.
Major projects in the transportation and logistics budget include ▲Yangsan urban railway construction 97.8 billion KRW ▲Fuel subsidies for the transportation industry 45 billion KRW ▲Financial support for the bus industry 18.2 billion KRW ▲Urban planning road construction 8.5 billion KRW ▲Installation of Nam Mulgeum Hi-Pass IC 8 billion KRW ▲Bukjeong Station transfer center development 5.5 billion KRW.
The agriculture, forestry, marine and fisheries budget includes ▲School meal support 13.4 billion KRW ▲Pine wilt disease control 2.5 billion KRW ▲Smart education center for farmers 2 billion KRW ▲Natural disaster risk improvement project in Gachon 6 district 1.9 billion KRW ▲Yangsan arboretum development 1.1 billion KRW.
Major projects in the culture and tourism budget include ▲Tongdosa cultural space construction 9 billion KRW ▲Sasong public library and national sports center construction 6.3 billion KRW ▲Ungsang Central Park development 4.6 billion KRW ▲Yangsan Eoullim-gil 10-course development 2.5 billion KRW ▲Main stadium restroom remodeling at the comprehensive sports complex 1.8 billion KRW.
Major projects in land and regional development include ▲Urban regeneration projects 10.3 billion KRW ▲River maintenance and management projects 8 billion KRW ▲Hwayagang riverside light line and cultural-historical space under the bridge project 1.5 billion KRW.
In the industry, small and medium enterprises, and energy sector, the budget includes ▲Operation of Yangsan Love gift certificates 14.2 billion KRW ▲Support for small business owners 3.2 billion KRW ▲Traditional market facility modernization projects 1.6 billion KRW ▲Establishment of natural product safety management center 3.9 billion KRW ▲Renewable energy convergence support projects 2 billion KRW ▲Ultra-gap technology development for sealant materials for aerospace defense 1.4 billion KRW ▲Construction of public rental knowledge industry center 1.3 billion KRW ▲Establishment of earthquake safety industry promotion facilities 1.1 billion KRW.
Additionally, the budget includes ▲Land development for the administrative town (including East Fire Station) 11 billion KRW ▲Sandbul district flood disaster living zone maintenance project 5 billion KRW ▲Northern natural disaster risk improvement district maintenance project 2.5 billion KRW ▲Western health living support center construction 1.7 billion KRW ▲Expansion of Ungsang health center 1 billion KRW.
Mayor Na Dong-yeon said, “Given the difficult domestic and international economic situation and the government's stance on maintaining sound fiscal policy, we aimed to efficiently allocate the budget by adjusting projects that hinder financial efficiency within limited revenue and boldly investing in key projects through selection and concentration. In 2025, as we prepare for the ‘2026 Year of Yangsan Visit,’ we will make every effort to promote projects to create a high-quality Yangsan and a happy city for our citizens.”
The 2025 budget proposal is expected to be finalized around mid-December after review at the 2nd regular session of the Yangsan City Council starting on November 25.
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