Seodaemun-gu Wins Grand Prize at Korea Local Government Accounting Awards

Implementation of the 'Resident Participation Settlement System' and Production of 'Easy-to-Understand Seodaemun-gu Budget' Receive Praise

[Asia Economy Reporter Jongil Park] Seodaemun-gu (Mayor Moon Seok-jin) was recognized for operating the district's finances transparently and with high reliability, becoming the only basic local government nationwide to receive the highest award, the "Grand Prize," at the 3rd Korea Local Government Accounting Awards.

This award is organized by the Korean Institute of Certified Public Accountants and sponsored by the Ministry of the Interior and Safety, the Korea Local Finance Association, the Korean Government Accounting Society, and the Fiscal Performance Research Institute.

Established in 2018 to discover exemplary cases of transparent financial information preparation and active disclosure of results to residents among 243 local governments nationwide, Seodaemun-gu won the award for two consecutive years, following the "Encouragement Award" last year.

This year, the district introduced the "Resident Participation Settlement System," which involves residents in the settlement process for the first time, and produced and distributed "Easy-to-Understand Seodaemun-gu Finances," which includes charts and graphs to help better understand complex settlement information, earning praise for its resident-friendly accounting policies.

The evaluation was conducted through data investigation and surveys based on indicators such as ▲ accounting infrastructure establishment ▲ reliability and usefulness of information ▲ accounting and financial management ▲ accounting information disclosure, and went through a first-stage evaluation committee and a second-stage judging committee composed of academics and accounting experts.

Mayor Moon Seok-jin of Seodaemun-gu, a certified public accountant and former chairman of the Seoul Metropolitan Council's Finance and Economy Committee, has contributed to enhancing the district's fiscal soundness and efficiency based on his expertise in accounting.

At the awards ceremony held on the 8th of this month at Dasan Hall in the Korea Economic Daily Building in Jungnim-dong, Seoul, Mayor Moon stated, "We will continue to share financial operation results and reflect related opinions in policies, striving to be an open local government that communicates with residents."

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