Jeon Jinseon: "Cuts to Provincial Funding Are Increasing the Fiscal Burden on Cities and Counties... Reasonable Support Measures Needed"

Yangpyeong County attends meeting with Gyeonggi governor and Mayors and County Heads Association
Calls for fiscal reforms, including differential subsidy rates
"Joint action by Gyeonggi Province and cities and counties needed to ensure steady progress on key regional projects"

Jeon Jinseon, governor of Yangpyeong County in Gyeonggi Province, raised concerns about cuts to provincial funding amid Gyeonggi Province's worsening fiscal situation and the resulting increase in the financial burden on cities and counties, emphasizing the need for reasonable fiscal support measures and a coordinated response.

Yangpyeong County Governor Jeon Jinseon poses for a commemorative photo at a meeting with the executive committee of the Gyeonggi Mayors and County Heads Association, held at Dodamso in Gyeonggi Province on the 21st. Provided by Yangpyeong County.

Yangpyeong County said on October 22 that Jeon attended a meeting with the executive committee of the Gyeonggi Mayors and County Heads Association at Dodamso in Gyeonggi Province on October 21, where participants discussed ways to stabilize local government finances and ease the financial burden on cities and counties.

Gyeonggi Governor Choo Mi-ae and the executive committee of the ninth popularly elected Gyeonggi Mayors and County Heads Association attended the meeting. They shared information on Gyeonggi Province's fiscal situation and explored responses to fiscal issues facing the province and its cities and counties.

Gyeonggi Province expects a funding shortfall of more than KRW 1 trillion in preparing next year's budget, even if it issues local government bonds up to the issuance limit. This has raised concerns that cuts to provincial funding could increase the financial burden on cities and counties.

The association called for a reasonable support system, including the application of differential subsidy rates that take into account the fiscal conditions of individual regions and the characteristics of their projects, to minimize the financial burden on cities and counties resulting from adjustments to provincial subsidy rates.

Participants also agreed that any future response fund established using additional tax revenue from the semiconductor industry should be managed with local fiscal stability in mind.

They also agreed that Gyeonggi Province and its cities and counties would coordinate their efforts to secure greater fiscal support from the central government and improve systems related to local government finances.

“With Gyeonggi Province and its cities and counties all facing difficult fiscal conditions, mutual cooperation is important to overcome the fiscal crisis,” Jeon said. “As an auditor of the ninth popularly elected Gyeonggi Mayors and County Heads Association, I will do my part in the association’s coordinated efforts to ease the financial burden on cities and counties and ensure that key regional projects proceed steadily.”

Yangpyeong County said it would continue working with the Gyeonggi Mayors and County Heads Association to actively address local fiscal issues and call for expanded fiscal support tailored to local needs, as well as improvements to relevant systems.

This content was produced with the assistance of AI translation services.