Is the Selection Variable for Seoul District Treasury Also a Money War?

As Seoul Districts Enter Final Stage of Local Treasury Selection, 'Money War' Trends Intensify Over Contribution Sizes and Interest Rates, Prompting Urgent Calls for Countermeasures

[Asia Economy Reporter Park Jong-il] The selection of district treasury banks in Seoul is ultimately turning into a money war, making it urgent to devise countermeasures.

According to Seoul's autonomous districts, following Eunpyeong and Guro Districts, the competition for district treasury bank selection has entered its mid-stage, with contributions and interest rates emerging as variables in this 'money war.'

Accordingly, the Ministry of the Interior and Safety has separately distinguished qualitative evaluations such as treasury operation capability from quantitative evaluations like contributions to prevent the money war. Although the scoring for contribution size is limited to 2 points, unlike Seoul's main treasury bank, the district treasury banks are not significantly affected.

Because of this, voices are rising that urgent measures are needed to prevent the selection of district treasury banks based on the size of contributions.

An official said, "As the selection of district treasury banks in Seoul's autonomous districts approaches the final stage, the money war over contributions seems to be continuing again," adding, "It seems necessary to have other measures to prevent excessive competition."

A district official stated, "In the case of autonomous districts, the size of contributions inevitably becomes an important variable, and this trend seems to be solidifying."

It is reported that at the meeting held on the 13th, Seongdong District's treasury bank was again taken by Shinhan Bank, and Yeongdeungpo and Gangseo Districts' treasury banks were again held by Woori Bank, the previous district treasury banks.

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