Sandan Gong, 'National Participation Budget Project' Contest Announcement

Award-Winning Projects to Be Included in Next Year's Corporate Support Budget... Proposals Accepted Until Next Month

[Asia Economy Reporter Kim Cheol-hyun] A project to promote support for industrial complex companies and revitalization of industrial complexes through public idea proposals is being launched. The Korea Industrial Complex Corporation (President Kim Jeong-hwan) announced on the 12th that it will accept public proposals until the 31st of next month to discover the '2023 Public Participation Budget Project.'

The public participation budget system is a system designed to ensure transparency in the budget formulation process and guarantee opportunities for public policy participation by allowing citizens to directly propose budget projects and participate in the review and prioritization process. Since introducing the public participation budget system in 2019, the Korea Industrial Complex Corporation has selected a total of five projects, including the Smart Factory Exhibition and support for small and medium-sized enterprise fire extinguishers, reflecting a budget of 570 million KRW and is currently implementing them. Next year's public participation budget will also incorporate public proposals to expand the projects.

Anyone from the public can participate in this contest. The proposal areas include ▲industrial complex innovation ▲improvement of aging industrial complex environments ▲and company support projects related to supporting resident companies and workers in industrial complexes. Proposed projects will be reviewed for feasibility by the responsible department and then approved by the Budget Adjustment Deliberation Committee before being included in the main budget.

Kim Jeong-hwan, President of the Korea Industrial Complex Corporation, said, "Through the public participation budget system, we will not only discover innovative projects needed by the public, entrepreneurs, and workers but also contribute to expanding communication with the public." He added, "We will continue to listen carefully to the voices of the public, customers, and the field to revitalize industrial complexes and support resident companies."

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