Maintaining Local Fiscal Soundness and Budgeting for Low Birthrate and Employment
Goryeong-gun, Gyeongbuk Province (Governor Lee Nam-cheol) has prepared a 2025 initial budget proposal of 456.9 billion KRW (general account 438.3 billion KRW, special account 18.6 billion KRW), an increase of 16.1 billion KRW (3.67%) compared to the previous year, and submitted it to the county council.
Next year's budget proposal was formulated under difficult conditions of tax revenue shortages due to economic recession and downturn, maintaining the government's sound fiscal policy while drastically reducing habitual and inefficient projects through bold expenditure restructuring, strategically allocating limited resources to priority projects.
The budget focuses on revitalizing the local economy, establishing social safety nets, stabilizing livelihoods, and especially on building residential infrastructure and creating quality jobs to overcome the low birthrate crisis and respond to local extinction, thereby restoring the stagnated region's dynamism.
By sector, the budget allocations are as follows: 23.5 billion KRW for general public administration, 19.7 billion KRW for public order and safety, 1.6 billion KRW for education, 31.2 billion KRW for culture and tourism, 63.0 billion KRW for environment, 97.3 billion KRW for social welfare, 10.4 billion KRW for health, 83.3 billion KRW for agriculture, forestry and fisheries, 10.3 billion KRW for industry and small and medium enterprises, 12.3 billion KRW for transportation and logistics, 33.9 billion KRW for national land and regional development, and 70.4 billion KRW for others and reserves.
Major projects include 11.1 billion KRW for disaster risk improvement district maintenance, 9.5 billion KRW for Dasan public sewage treatment facility expansion, 9.4 billion KRW for urban regeneration New Deal projects, 5.6 billion KRW for Daegaya-eup rural hub revitalization, 4.3 billion KRW for circulating landfill site maintenance, 4.2 billion KRW for Daegaya leisure culture water project, 4.0 billion KRW for Dasan health family center construction, 3.2 billion KRW for river disaster prevention projects, 3.0 billion KRW for Anlim district drainage improvement, and 3.0 billion KRW for green bio material industrialization facility construction.
Governor Lee Nam-cheol stated, “This budget proposal focuses on maintaining local fiscal soundness and efficient budget formulation through selection and concentration. Amid difficult financial conditions expected due to reductions in local allocation tax caused by tax revenue shortages, we will do our utmost to continuously secure national and provincial government budgets.”
The budget proposal submitted by the county is scheduled to be finalized on the 13th of next month after approval by the county council.
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