Gyeongnam Office of Education Exceeds Financial Execution Target by 79.4 Billion KRW... Receives 1 Billion KRW Performance Bonus from Ministry of Education

Execution of 1.3577 Trillion KRW for Improvement of Educational Environment Facilities and Support for Educational Activities

Gyeongnam Office of Education. / Photo by Se-ryeong Lee ryeong@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] The Gyeongnam Office of Education swiftly executed 1.5485 trillion won in project expenses in the consumption and investment sectors.

The provincial education office hastened efforts to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 pandemic, and to efficiently execute the budget. This achievement corresponds to 105.4% of the Ministry of Education's initial target of 1.4691 trillion won.

They added that 190.8 billion won was spent on construction costs such as facility improvement projects for students' educational environments, and 1.3577 trillion won on operating expenses and personnel costs to support educational activities, exceeding the first half's spending by 79.4 billion won.

Since last year, the Ministry of Education has revised the Enforcement Decree of the Local Education Finance Grant Act to provide additional performance bonuses in general grants to city and provincial education offices that achieve their financial execution targets.

The Gyeongnam Office of Education secured 13.5 billion won in general grant performance bonuses, including 9.5 billion won for achieving the special account education expenditure execution target last year and 4 billion won for achieving the school account financial execution target.

This year, by achieving the financial execution target in the first half, they will receive 1 billion won in general grant performance bonuses from the Ministry of Education.

Lee Kyung-gu, Director of Policy Planning, stated, “In the second half, we will continue to actively execute the budget to further contribute to revitalizing the local economy and will make greater efforts to support students' educational activities and improve the educational environment.”

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