317 Billion Won in National Funding and Additional 886.8 Billion Won Issued
Special Support for Yeosu and Muan... Economic Recovery Expected
On June 17, Jeonnam Province announced that it has secured 31.7 billion won in national funding for the issuance of local love gift certificates (local currency) this year, and will issue an additional 886.8 billion won, bringing the total issuance to 1.3 trillion won.
According to Jeonnam Province, for the supplementary budget for local love gift certificates (a total of 400 billion won) that passed the National Assembly last month, the province applied for 26 billion won in national funding for general support and special support (Yeosu City).
As a result of continuously requesting additional support from the government, Jeonnam Province will receive a total of 31.7 billion won, an increase of 5.7 billion won from the original application, with 28.4 billion won for general support and 3.3 billion won for special support (Yeosu City and Muan County).
In particular, Muan County, which suffered significant damage to its local economy due to a sharp decline in tourists following the Jeju Air passenger plane accident on December 29 last year, has been included as a special support recipient.
From the beginning of the year, when government support was uncertain, Jeonnam Province took a proactive approach to address the local economic downturn by investing 17.5 billion won of provincial funds to push for the issuance of local love gift certificates worth 350 billion won.
In response to Jeonnam Province's active support, a total of 424.5 billion won in local love gift certificates was issued by cities and counties from January to April.
With these proactive measures and the securing of national funding, the total issuance of local love gift certificates in Jeonnam Province this year is expected to reach 1.3 trillion won, an increase of more than 300 billion won compared to last year.
Kim Yungrok, Governor of Jeonnam Province, said, "Local love gift certificates are a reliable priming water for the recovery of the local economy," and added, "Jeonnam Province will continue to do its utmost for local economic recovery, including proactively responding to the government's second supplementary budget for national local currency and livelihood support funds."
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