Yeongam-gun Selected as 'Best Institution for Fiscal Execution in the Second Half of 2020'

Ministry of the Interior and Safety Secures Institutional Commendations and 280 Million Won in Financial Incentives

Yeongam-gun Office Building Exterior (Photo by Yeongam-gun)

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Yeongam-gun, Jeollanam-do (Governor Jeon Dong-pyeong) announced on the 11th that it was honored to be selected as the best institution in the Ministry of the Interior and Safety’s ‘2020 Second Half Local Finance Rapid Execution Final Evaluation’ and ranked first in Jeollanam-do’s own evaluation.

The Local Finance Rapid Execution Final Evaluation is a system conducted by the Ministry of the Interior and Safety targeting 243 local governments nationwide (including metropolitan cities and provinces) to select institutions that have led the expansion of local financial expenditures to overcome the difficult economic conditions caused by COVID-19 by promoting expansionary fiscal execution, job creation, and improving execution performance in consumption and investment sectors.

As of December 31 last year, the evaluation comprehensively assessed three area indicators through the Local Finance Analysis System: achievement of execution performance targets, job project execution performance, and consumption and investment execution performance.

To actively promote fiscal execution last year, the county formed the ‘Local Finance Rapid Execution Promotion Team’ to frequently check the status of fiscal execution, held regular fiscal execution progress reporting meetings and underperforming project countermeasure reporting meetings, and carried out systematic responses to achieve fiscal execution goals.

As a result, Yeongam-gun was selected as the ‘Best Local Government’ in this evaluation and secured a total of 280 million KRW in fiscal incentives, including 80 million KRW from the Ministry of the Interior and Safety and 200 million KRW from Jeollanam-do.

In the first half of 2019, Yeongam-gun was selected as an ‘Excellent Institution’ nationwide in the Local Finance Rapid Execution Evaluation conducted by the Ministry of the Interior and Safety and simultaneously as an ‘Excellent Institution’ in Jeollanam-do’s evaluation, securing 138 million KRW in fiscal incentives. In the first half of 2020, it was again selected as an ‘Excellent Institution’ in both the Ministry of the Interior and Safety and Jeollanam-do’s Local Finance Rapid Execution Evaluations, receiving 315 million KRW.

Since 2019, the county’s fiscal scale surpassed 600 billion KRW for the first time in history, achieving a record high fiscal scale of 657 billion KRW in 2020, laying the foundation for major pledges of the 7th local government administration and various pending projects.

Governor Jeon Dong-pyeong stated, “This year as well, in line with the central government’s policy direction, rapid and efficient execution of local finances will be important to revitalize the local economy and create jobs to overcome COVID-19. We will do our best to achieve the goals by actively completing preliminary administrative procedures and issuing all projects before the busy farming season in the first half of the year.”

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