Ulsan Office of Education Spent Money Most 'Effectively'... Ranked No.1 Nationwide in Education Budget Execution, Contributing to Local Economic Revitalization

Fiscal Execution Performance at 80.7%, Ranked First Among Nationwide Education Offices

Ulsan Metropolitan Office of Education.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan Metropolitan Office of Education has been found to have most 'generously' disbursed educational finances.

As of the 20th, Ulsan Office of Education recorded a financial execution amount of 1.686 trillion KRW with an execution rate of 80.7%, ranking first among education offices nationwide.

Ulsan Office of Education is evaluated to have contributed to revitalizing the stagnant local economy through rapid educational financial execution in the second half of the year, following the first half.

Earlier, in the first half of this year, Ulsan Office of Education exceeded all targets in financial execution across all sectors, securing a 1 billion KRW incentive for next year's local education finance grant.

The education office analyzes the causes for institutions with execution rates lagging behind the current budget amount, encourages execution, and ensures maximum budget execution except in unavoidable cases.

Ulsan Metropolitan Office of Education operates the 'Ulsan Education Finance Execution Management Inspection Team' led by Deputy Superintendent Lee Yong-gyun.

By checking the financial execution status of each institution and department weekly, they provide consulting and discover tasks for system improvement for projects facing difficulties, guiding them to rapid execution.

According to the Korea Institute for Industrial Economics and Trade, Ulsan's regional gross production fell by 5.9% last year due to the prolonged COVID-19 pandemic, making it the third most economically impacted area nationwide.

The number of personal bankruptcy cases filed by the end of August this year was 788, a 6.5% increase compared to the same period last year.

An official from Ulsan Metropolitan Office of Education said, "To help the local economy stagnated due to the impact of COVID-19, we are actively advancing the early execution of public sector budgets," adding, "We will focus administrative power on the sound and rapid execution of educational finances."

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