Gyeongsan City, Awarded 'Excellent Institution' for Three Consecutive Years in Gyeongbuk Province's First Half Local Finance Rapid Execution Evaluation

Secured 50 Million KRW in Special Adjustment Grants and 2.5 Million KRW in Rewards

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gyeongsan City announced on the 15th that it was selected as an 'Excellent' institution for the first quarter and a 'Encouragement' institution for the first half in the Gyeongbuk Province evaluation of rapid local finance execution, receiving a financial incentive of 50 million KRW.

In the first half rapid execution sector, Gyeongsan City exceeded the target amount of 273.6 billion KRW by 14.5 billion KRW. In the consumption and investment sectors, which have a significant ripple effect on the local economy depressed by COVID-19, the city executed 186.5 billion KRW, 16.9 billion KRW more than the target amount of 169.6 billion KRW, achieving an execution rate of 110%.

The city prioritized overcoming the local economic crisis and restoring vitality, holding frequent rapid execution inspection meetings chaired by the vice mayor from the beginning of the year, and focused on monitoring the execution status monthly for investment projects over 100 million KRW (286 cases, 223.3 billion KRW) to improve the execution rate.

Mayor Choi Young-jo said, "This result is due to the efforts of all employees to revitalize the local economy, enabling us to achieve excellent results for three consecutive years, including being selected as an excellent institution in the Ministry of the Interior and Safety evaluation in the first half of 2020," and added, "We will do our best in the second half to ensure the local economy recovers quickly."

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