Local Decline Response Fund



Basis

The Framework Act On The Management Of Local Government Funds, Article 22(1)
Cities and provinces establish a Local Decline Response Fund to effectively cope with local decline.

Description

(Purpose) Respond to local decline and population decrease
(Characteristics) Earmarked financial resources in response to population decrease
(Size/Period) One trillion-won annually, which adds up to 10 trillion won for 10 years
(Fund Operator) The Fund Management Association, comprised of 17 metropolitan cities and provinces