Namhae-gun Selected for 'Comprehensive Best Award' in Local Government Financial Analysis ... The Only Achievement in Gyeongnam

Attendance at the 2022 Republic of Korea Local Finance Awards Ceremony

Namhae-gun, Gyeongnam Province received the highest comprehensive award in local finance analysis.

[Asia Economy Yeongnam Reporting Headquarters Reporter Song Jong-gu] Namhae-gun, Gyeongnam, attended the '2022 Korea Local Finance Awards Ceremony' held at the International Conference Hall of the Government Seoul Office Annex, hosted by the Ministry of the Interior and Safety, and received the 'Comprehensive Best Award for Local Finance Analysis and a Special Grant of 90 million KRW' along with the group award.

The Local Finance Awards Ceremony is a prestigious event in the field of finance, held annually since 2008 by the Ministry of the Interior and Safety to boost the morale of excellent local governments and public officials who have made significant contributions in various areas of local finance.

The ceremony held on the 22nd was presided over by Minister Lee Sang-min of the Ministry of the Interior and Safety, with participation from 17 local governments nationwide, including 10 selected for the Korea Local Finance Awards, 3 outstanding organizations for resident participation budgeting, and 4 excellent organizations for financial analysis.

At Namhae-gun, Deputy Governor Noh Hye-young and officials from the Planning and Coordination Office attended on behalf of Governor Jang Chung-nam.

Despite the unpredictable financial environment due to domestic and international economic uncertainties, Namhae-gun has operated a tight fiscal policy without issuing local bonds since 2016, achieving a debt management indicator of 0% (national average 7.06%) and a local tax arrears management ratio of 0.10% (national average 0.92%).

These financial management achievements were highly evaluated, earning the Minister of the Interior and Safety Award and an incentive of 90 million KRW.

Governor Jang Chung-nam stated, “We will sincerely reflect these financial analysis results throughout the entire fiscal management process, including budget formulation, review, and execution, to promote the soundness and efficiency of local finance.”

The financial analysis results for each local government will be disclosed on the Local Finance Integrated Disclosure System, ‘Local Finance 365.’

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