Namwon-si Selected as 'Best Institution' in Local Finance Rapid Execution Evaluation

[Namwon=Asia Economy Honam Reporting Headquarters Reporter Jeong Young-kwon] Namwon City, Jeonbuk Province (Mayor Lee Hwan-joo) announced on the 14th that it was selected as the best institution in the ‘2021 First Half Rapid Execution Final Evaluation’ conducted by Jeonbuk Province, securing a financial incentive of 100 million KRW.

Despite the difficult conditions due to COVID-19 in the first half of 2021, the city executed 311.6 billion KRW out of the rapid execution target amount of 562.5 billion KRW, achieving an execution rate of 55.4%, which is 0.3% higher than the government target rate of 55.1%.

This evaluation divided the 14 cities and counties in the province into groups by type (city, county) and assessed them based on financial execution, consumption investment execution, and job projects as indicators. As a result, the city ranked first within the city group.

Since early this year, under the leadership of Vice Mayor Jeon Kyung-sik, the city has checked the execution plans of major projects by each department and held meetings to devise countermeasures for underperforming projects.

In addition, the city has made various efforts to urge financial execution, such as encouraging the mandatory implementation of advance payment execution and prior notification of government-supplied materials for construction and service contracts.

Mayor Lee Hwan-joo said, “We emphasized the importance of rapid execution to recover the local economy, which has been difficult due to COVID-19,” and added, “In the second half of the year, we will focus on managing projects closely related to citizens’ lives and actively operate finances to minimize year-end budget rushes and carryovers.”

Namwon=Asia Economy Honam Reporting Headquarters Reporter Jeong Young-kwon wjddudrnjs@asiae.co.kr

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