Jindo-gun Achieves Record High Public Deposit Interest Income

General Account Interest Income of 4 Billion KRW, 67% Increase Compared to the Average Interest Income Over the Past 3 Years

Jindo-gun Office Building Exterior Photo by Asia Economy

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Jindo-gun, Jeollanam-do recorded the highest ever interest income from general account public deposits this year.

According to the county, the interest income from general account public deposits in 2021 reached 4 billion KRW, a 67% increase compared to the average interest income of 2.4 billion KRW over the past three years, achieving the best result in history.

This is the highest amount since 2010 despite the continued decline in deposit interest rates.

The county attributed the increase in interest income to accurately forecasting fund requirements by period through analysis of fund operation data based on revenue and expenditure data.

In particular, it is analyzed that the strategic fund management, such as dividing idle funds into long- and short-term high-interest fixed deposits, dispersing deposits, and minimizing early withdrawals, contributed to maximizing interest income.

A representative from the Tax Accounting Division of Jindo-gun said, “Although difficult conditions are expected next year, including anticipated interest rate cuts, we will do our best to expand fiscal revenue and secure fiscal soundness through precise and thorough fund management and efficient fund operation.”

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