Gwangju Seo-gu Selected as an 'Excellent Institution' in Local Finance Rapid Execution Evaluation

Published 13 Jul.2021 13:38(KST)

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Seo-gu, Gwangju Metropolitan City (Mayor Seo Dae-seok) announced on the 13th that it was selected as an excellent institution in the ‘2021 First Half Local Finance Rapid Execution Final Evaluation’ conducted by the Ministry of the Interior and Safety targeting 243 local governments nationwide.

Seo-gu executed 106 billion KRW, which is 67.07% of the target amount of 158.1 billion KRW, exceeding the target amount (92 billion KRW) by 14 billion KRW, showing an execution rate of 115.2% compared to the target.

This is evaluated as the result of Seo-gu’s strong will and active financial management to recover the local economy through expansive fiscal execution from the beginning.

Seo-gu formed and operated a ‘Rapid Execution Promotion Team’ led by the deputy mayor to establish a constant inspection system for rapid execution of local finances.

In addition, it took a proactive approach to revitalize the local economy by focusing on executing finances in consumption and investment sectors, which have significant economic ripple effects and are closely related to residents’ lives.

Seo-gu was selected as an excellent institution for rapid execution and received a commendation from the Minister of the Interior and Safety along with a special grant of 35 million KRW as an incentive.

Seo Dae-seok, Mayor of Seo-gu, said, “Despite the difficult economic conditions due to COVID-19, this is the result of all employees working together to revitalize the local economy and stabilize people’s livelihoods. We will actively manage finances to minimize unused funds by focusing on projects with significant economic ripple effects and close ties to residents’ lives.”