Damyang County Holds Briefing on Local Extinction Response Fund Project

Discussion on Analysis of Causes for Delay and Solutions

Damyang County recently held a progress report meeting on the 2022-2025 Local Extinction Response Fund Project to discuss measures to improve the execution rate. Provided by Damyang County

Damyang County in Jeollanam-do recently announced that it held a progress report meeting for the 2022-2025 Local Extinction Response Fund project at Songgangjeong Pavilion, where strategies to improve the fund execution rate were discussed.

Over four years, the county has been allocated 24.8 billion KRW for 34 projects. Of these, 15 projects have been completed, and 19 are currently underway, with the current execution rate of the Local Extinction Response Fund at 31.2%.

This meeting focused on discussing the current status of the fund projects and analyzing the reasons for delays, as well as solutions to address them. The main reasons for slow execution were reported as: ▲ project delays due to construction suspension in winter ▲ excessive time required for preliminary administrative procedures ▲ low participation rates in project implementation.

Once these issues are resolved, all projects from 2022 and 2023 are expected to be completed within this year, and more than 50% of the 2024 projects are anticipated to be executed. Additionally, this year's fund allocation will be conditionally transferred by the mutual aid association based on the local government's budget arrangements and the 2023 fund execution rate, and will proceed after the supplementary budget is established.

Acting Governor Jeong Gwangseon stated, "We will do our utmost to improve the execution rate of the ongoing Local Extinction Response Fund projects," and added, "For the 2026 investment plan, we will respond to the population decline crisis by discovering specialized projects that reflect regional characteristics and effectively increase both the resident and daily population."

The Local Extinction Response Fund is a resource established to address local extinction and regional population decline, distributing 1 trillion KRW annually (25% to metropolitan areas, 75% to basic local governments) for 10 years from 2022 to designated local governments (89 population-declining areas and 18 areas of interest).