Panoramic view of Gyeryong City Hall, South Chungcheong Province

Gyeryong City Secures Largest National and Provincial Budget Ever

Gyeryong City (Mayor Lee Eung-woo) announced on the 20th that it has secured the largest amount of financial resources ever, reaching a total of 158.2 billion won in national and provincial budgets (including public offering projects) as of the third quarter of 2024.

This achievement is expected to play a positive role in strengthening the stability of local finances, such as securing financial resources for implementing the pledges of the 8th elected government and promoting current projects.

Since the launch of the 8th local government, the city has prioritized securing previous financial resources and has made every effort to discover public offering projects, including being selected for 19 projects (total project cost of 131.3 billion won) among the central government and South Chungcheong Province public offering projects this year.

As a result, the budget has increased by about 18 times compared to 2022 and about 5 times compared to 2023, and through the 2nd supplementary budget, it has secured an additional 78.2 billion won in national and provincial funds, successfully securing a total of 158.2 billion won in financial resources.

In particular, the budget secured through the selection of a public offering project will be invested in projects that address major local issues, such as the ‘Local Waterworks Modernization Project (KRW 27 billion), Disaster Risk Improvement Zone Development Project (KRW 16 billion), Public Rental Knowledge Industry Center Construction (KRW 16 billion), and Eomsa Elementary School Complex Facility Public Offering Project (KRW 20 billion).’

Despite the fact that the financial situations of many local governments have been worsening due to the reduction in local allocation taxes resulting from the decrease in national tax revenue since last year, the city has secured the largest national and provincial budget ever, creating a valuable opportunity to drive local community development.

Mayor Lee Eung-woo of Gyeryong City said, “Securing the largest government budget in history is the result of the wishes of 47,000 Gyeryong citizens who want regional development and the passion of 500 public officials,” and emphasized, “We will continue to focus our administrative power on securing the government budget to implement the pledges of the 8th elected government and smoothly promote pending projects.”