Ministry of the Interior and Safety Holds 'Local Public Institution Innovation Report Conference'

Reform of Debt-Focused Management System
Standard Model for Establishing Public Institutions, etc.

[Image source=Yonhap News]

[Asia Economy Reporter Kiho Sung] The Ministry of the Interior and Safety held the ‘Local Public Institutions Innovation Reporting Conference (hosted by the Minister of the Interior and Safety)’ on the 10th.

Since the launch of the new government, the Ministry of the Interior and Safety has announced the ‘New Government’s Direction for Local Public Institutions Innovation’ in July last year, the ‘Local Public Institutions Innovation Guidelines’ in September, and the ‘Local Public Institutions Management System Reform Direction’ in November to promote innovation in local public institutions. This ‘Local Public Institutions Innovation Reporting Conference’ was held to explain this year’s policy direction for local public institutions innovation, encourage local governments that have worked hard on structural reforms and other innovations since the new government’s launch, and share best practices.

First, the Ministry of the Interior and Safety explained at the innovation reporting conference that if last year was the year of planning for local public institutions innovation, this year will focus on actively generating innovation outcomes by promoting local public institutions innovation policies as follows.

First, it will continuously identify structural reform tasks such as adjusting similar and overlapping functions and reorganizing private competitive projects, and focus on generating outcomes through implementation inspections and evaluations. It will also strengthen financial soundness by revising the selection indicators for debt-focused management institutions, actively managing debt linked to local government bonds, and continuously reorganizing non-core assets and failing projects. Along with this, it will secure accountability by promoting related legal amendments to improve the investment system of local public enterprises in other corporations and establish a standard model for foundation institutions, and reorganize the management evaluation system to harmonize public interest and efficiency.

It will expand cooperation among local governments in local public institution tasks such as integrating water supply services and jointly establishing and operating investment and foundation institutions, and strengthen cooperation between local public institutions and the private sector by expanding the sharing of assets and information of local public institutions and supporting local companies’ Environmental, Social, and Governance (ESG) management.

Additionally, the innovation reporting conference provided time to share excellent innovation cases from three local governments?Gyeongbuk, Busan, and Suwon?with local governments nationwide. Along with this, financial incentives were awarded to 11 local governments that made efforts toward structural reform.

Minister of the Interior and Safety Sangmin Lee stated, “In the midst of a complex crisis, local public institutions must now fully accelerate innovation to prepare for the future and provide better public services to residents,” adding, “The Ministry of the Interior and Safety will spare no support to ensure that local public institutions innovation proceeds smoothly and generates results.”

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