Gwanak-gu Selected as an 'Excellent Institution' for Rapid Local Finance Execution in the Second Half of 2020

Selected as an Excellent Institution for 5 Consecutive Times through Prompt Local Fiscal Execution to Revitalize the Regional Economy... Secured 40 Million KRW in Special Fiscal Incentives, Planned for Use in Projects Benefiting Residents

[Asia Economy Reporter Jong-il Park] Gwanak-gu (Mayor Park Jun-hee) was selected as an 'Excellent Institution' in the final evaluation of the second half of 2020 local finance rapid execution.

Accordingly, the district received the honor of being selected as an 'Excellent Institution' for the fifth consecutive time and was granted a special subsidy of 40 million won as a financial incentive, which will be used as project funds for the residents.

This evaluation was comprehensively conducted by the Ministry of the Interior and Safety on 243 local governments nationwide, assessing ▲ rapid execution and consumption investment performance ▲ job sector execution performance ▲ cooperation between metropolitan and basic local governments.

During the 7th elected term, Gwanak-gu formed and operated the 'Local Finance Rapid Execution Promotion Team,' establishing a continuous inspection system for rapid execution of local finances, managing finances more quickly and efficiently to minimize carryover and unused funds.

In addition, the district is focusing on executing finances in consumption and investment sectors that have significant economic ripple effects and are closely related to residents' lives, proactively responding to revitalize the local economy, which has been contracted due to COVID-19.

Meanwhile, the district was also selected as an 'Excellent Institution' in the '2019 first and second half evaluations,' receiving a total special subsidy of 238 million won.

Park Jun-hee, Mayor of Gwanak-gu, stated, “This achievement was made through the united efforts of all employees to overcome the economic downturn caused by COVID-19,” and added, “In 2021, we will do our utmost to contribute to revitalizing the local economy through active rapid execution focusing on projects with significant economic ripple effects, such as job creation and living SOC projects.”

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