This Year's Ministry of Economy and Finance Policy MVP is the 4th Supplementary Budget... Selected Items Include Korean New Deal and Drive-Through Testing

Ministry of Economy and Finance 2020 Policy MVP Awards Ceremony Held

[Sejong=Asia Economy Reporter Kim Hyunjung] The policy chosen by the public as the Ministry of Economy and Finance's best policy of the year was the "fourth supplementary budget formulation in 59 years." The Korean New Deal initiative and drive-thru testing for the novel coronavirus infection (COVID-19) were also selected as major policies.

On the 28th, the Ministry of Economy and Finance announced the results of the 2020 Policy MVP selection. The Policy MVP has been selected since 2011 to enhance policy performance and expand opportunities for public participation. Voting was conducted over seven days from December 10 to December 16, covering 27 candidate policies across six areas including the Korean New Deal, economic crisis recovery, and risk management. A total of 4,422 participants, including the general public, policy experts, and press corps, took part in the vote.

As a result of the vote, the formulation of the fourth supplementary budget was chosen as the Ministry of Economy and Finance's best policy (Grand Prize) that resonated most with the public this year. Following that, the Korean New Deal initiative received the Runner-up Prize, and the support for establishing a rapid testing system including drive-thru testing was awarded the Innovation Prize. The nationwide emergency disaster relief fund policy received the Popularity Prize, the historic issuance of foreign exchange bonds at negative interest rates was given the Shadow Prize, and the financial tax system reform to revitalize financial investment was selected as the Challenge Prize.

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki emphasized during the award ceremony, "Public participation systems like the Policy MVP serve as communication channels between the government and the public, and are expected to play an important role in establishing policies that meet public expectations and increase public awareness." He added, "In a situation where uncertainty is high across our economy due to COVID-19 and concerns about economic recession persist, it is more important than ever to encourage public officials to have creative ideas and a spirit of challenge that does not fear failure through performance reward systems."

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