Hampyeong-gun Selected as Best Institution for Three Consecutive Years in Rapid Local Finance Execution

Following the Selection as an 'Excellent Institution' in the First Half of 2020, Also Chosen as 'Top Institution' in the Second Half... Securing an Incentive of 180 Million Won

[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Hampyeong-gun, Jeollanam-do, was selected as the best institution in the ‘2020 Second Half Local Finance Rapid Execution Evaluation’ hosted by the Ministry of the Interior and Safety (hereinafter referred to as MOIS), securing a total incentive of 180 million KRW, including 100 million KRW in provincial subsidies and 80 million KRW in special grants. This marks the third consecutive year of selection following 2018 and 2019.

According to Hampyeong-gun on the 11th, the local finance execution evaluation is a comprehensive budget execution assessment conducted twice a year by MOIS targeting local governments nationwide to ensure budget execution efficiency and promote regional economic revitalization.

The evaluation categories for this second half local finance rapid execution assessment included ▲financial execution performance ▲consumption and investment execution performance ▲job execution performance, with the county receiving high scores in all three categories.

Since early last year, the county focused on overcoming the economic downturn caused by COVID-19 and revitalizing the local economy by systematically implementing pre-administrative procedures such as establishing execution plans.

Additionally, by forming a rapid execution task force to frequently monitor execution status, the county identified unused funds and efficiently allocated the budget through expenditure restructuring. It also conducted flexible financial management through integrated financial stabilization fund operation and exclusive use of global cash.

County Governor Lee Sang-ik stated, “Holding frequent financial execution reporting meetings and actively encouraging underperforming departments to stimulate consumption and revitalize the local economy seems to have led to these good results. As the importance of local finance execution, which plays a significant role in overcoming the national economic crisis, continues to be emphasized, we will do our best to maintain good results in the rapid execution evaluation for the first half of this year while securing fiscal soundness.”

Meanwhile, the county secured 221 million KRW in incentives over the past year, including being selected as an ‘Excellent Institution’ nationwide in the first half local finance rapid execution evaluation last year.

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