Gyeonggi council speaker urges central support as province faces fiscal strain

  • Nam Jong-seop urged Democratic Party leaders and the National Assembly to support Gyeonggi Province.
  • Gyeonggi faces falling acquisition tax revenue alongside rising mandatory spending.
  • The meeting addressed local taxes, general grants, railways and land returned by U.S. Forces Korea.

Gyeonggi Provincial Council speaker Nam Jong-seop urged Democratic Party leadership and the National Assembly to help address the province's worsening fiscal pressures. At a budget policy meeting on the 21st, he identified securing state funding and advancing fiscal decentralization (shifting financial authority to local governments) as priorities, while also seeking support for a Local Council Act. Discussions covered raising the local consumption tax rate, revising general-grant calculation standards, developing land returned by U.S. Forces Korea, expanding metropolitan railways and placing rail lines underground. Nam said falling acquisition tax revenue and rising mandatory spending were increasing pressure on livelihood programs and future investment, leaving the province dependent on central-government and parliamentary support.

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