Gyeongju City Sheds "Monitoring Area" Label and Receives Substantial Government Support for Population Decline

First Institutional Reform Since 2021 Designation... "Second Home" Tax Incentives
Mayor Joo Nak-young: "Implementing Population Policies That Citizens Can Truly Feel"

Gyeongju City has moved beyond the simple "monitoring stage" in its population decline response system and has now entered a practical phase where it will receive substantial administrative and financial support at the national level.

On January 7, Gyeongju City announced that, following the government's reform of the population decline monitoring area system, it has been included as a target for policy support at a level comparable to population decline areas, overcoming previous limitations.

Gyeongju City Hall Exterior View

Since 2021, Gyeongju City had been classified as a population decline monitoring area. However, due to insufficient legal grounds, there were limitations in receiving policy and financial support, making it difficult to respond effectively.

However, with recent improvements to relevant laws and systems, a legal framework has now been established that allows monitoring areas to receive support similar to that provided to population decline areas.

As a result, Gyeongju City can now establish mid- to long-term plans to address population decline and participate in national funding competitions and financial support projects.

Changes that citizens can directly feel are also expected.

For example, if a single-home owner purchases an additional home in a population decline monitoring area outside the Seoul metropolitan area, they will benefit from the "Second Home" tax incentive, which reduces the burden of capital gains tax and comprehensive real estate tax. Various other administrative and financial supports from the government are also expected to be applied.

This is anticipated to have a positive impact on attracting new residents and expanding the daily population.

Gyeongju City stated that this change in the system has created the conditions necessary to systematically implement measures to address population decline.

Mayor Joo Nak-young said, "Although Gyeongju had been designated as a population decline monitoring area, there were not many supports that could actually be utilized. With this system improvement, we will gradually implement policies that citizens can truly feel."