Gwangyang City Announces Financial Operation Results for Fiscal Year 2020

Budget Scale, Financial Management Plan, Fiscal Conditions, and Financial Performance, etc.

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] On the 24th, Gwangyang City in Jeonnam held a Financial Planning Deliberation Committee meeting in the situation room on the 2nd floor of Gwangyang City Hall to review and resolve key matters such as the budget scale based on the 2020 fiscal year settlement, financial operation plans, financial conditions, and financial operation performance, the city announced on the 26th.

Every year, after reviewing the previous year's settlement data through the Gwangyang City Financial Planning Deliberation Committee, the city publicly discloses overall financial operation details and citizen interest items considering regional characteristics across a total of 59 items in 10 fields.

According to the disclosed data, the financial scale in 2020 was 1.4229 trillion KRW (based on revenue settlement, including funds), an increase of 181.8 billion KRW compared to the previous year.

This indicates that Gwangyang City has excellent financial self-reliance capabilities, and it achieved third place among local governments with populations under 500,000 in the ‘National Local Government Evaluation’ conducted by Hankook Ilbo and the Korean Local Autonomy Association, receiving high evaluations in the financial capacity category.

Deputy Mayor Kim Kyung-ho said, “Through financial disclosure, we will continuously strive to ensure that any citizen can check Gwangyang City's financial operation status and actively participate.”

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