Seongnam City Selected as an Excellent Local Government for Fiscal Execution Two Years in a Row

Seongnam City Hall

Seongnam City in Gyeonggi Province has been selected as an excellent local government for financial execution for two consecutive years.

On the 20th, Seongnam City announced that it executed 4.3215 trillion won, which is 349.5 billion won more than the target amount of 3.972 trillion won for active local finance execution in the second half of last year, earning the distinction of an excellent local government.

Accordingly, the city will receive an additional financial incentive of 52.7 million won next month, following the special grant of 47.2 million won received based on the evaluation results of the first half of last year.

Previously, the Ministry of the Interior and Safety evaluated 243 local governments nationwide by reviewing three areas: the active financial execution rate in the second half of last year, and the consumption and investment execution rates in the third and fourth quarters, to select excellent local governments.

A city official explained, "Despite difficult conditions such as the Cargo Solidarity strike and material supply disruptions in the second half of last year, we actively executed budgets related to stabilizing the people's economy, made efforts to prevent budget execution concentration at the end of the year, and minimized carryover and unused amounts, enabling us to exceed financial execution targets in all areas."

The official added, "This year as well, we will devote all efforts to rapid financial execution and systematic budget management to revitalize the local economy."

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