Ministry of Economy and Finance Conducts Special Inspection of 63 National Treasury Subsidy Projects... Implements Expenditure Restructuring

[Asia Economy Sejong=Reporter Son Seon-hee] The government has decided to completely reorganize subsidy projects funded by the national treasury. The intention is to conduct a spending restructuring by re-examining private subsidy projects that have been supported as a matter of course over the past two years from "square one."

The Ministry of Economy and Finance announced in a press release on the 30th, "This year, we plan to conduct inspections through the second extension evaluation of subsidy projects targeting 398 projects." In addition, this year, along with the regular extension evaluation, a special inspection was conducted by separately selecting 63 projects from January to March.

Through this, similar and overlapping projects were decisively abolished or integrated, and subsidies were reduced by adjusting the self-payment rate for 29 subsidy projects. Three projects promoting the Creative Economy Innovation Center, individually organized within the "Startup Ecosystem Foundation Project" (Innovation Center Operation, Startup Zone Operation, Maker Activation Support), were consolidated.

Also, 33 projects requiring strengthened execution responsibility by the project ministries were converted to private consignment items. The results of this inspection will be re-verified during the next year's budget formulation process, and specific spending restructuring will be carried out.

Ando-geol, the 2nd Vice Minister of the Ministry of Economy and Finance, said, "Considering the recent rapid increase in the number of subsidy projects and the scale of subsidy budgets, we will actively promote a subsidy project reorganization work that deeply reviews the necessity of support, the scale of support, and the appropriateness of support methods from a zero-base perspective across all subsidy projects."

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