Narasallim Research Institute, "Uijeongbu City Ranks 1st Nationwide in 'Fiscal Soundness'"

Analysis of Finances in 243 Local Governments Nationwide... Uijeongbu City Maintains 'Debt Zero' for 4 Consecutive Years

Howon-dong, Uijeongbu-si [Provided by Uijeongbu-si]

[Asia Economy Reporter Ra Young-cheol] Uijeongbu City in Gyeonggi Province was recently selected as the number one institution nationwide in the 2020 National Local Government Financial Analysis announced by the 'Narasallim Research Institute.'

According to the city on the 16th, based on last year's comprehensive report on local finances by the Ministry of the Interior and Safety and reports from each local government, a comprehensive analysis of the financial management of 243 local governments nationwide showed that Uijeongbu City had zero debt.

The financial analysis consists of more than 50 indicators including financial soundness, efficiency, and planning, serving as an important metric for diagnosing the financial status of local governments as well as for evaluating local governments.

At the end of 2013, Uijeongbu City planned to gradually reduce its debt of 86 billion won by 2023, but it fully repaid 32 billion won in 2016 and 54 billion won in 2017, maintaining 'zero debt' until last year while saving 4.1 billion won in interest expenses.

Earlier, in a press conference in September 2017, Mayor Ahn Byung-yong of Uijeongbu declared that "Uijeongbu City has achieved 'zero debt' with sound finances."

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