Gwanak-gu Selected as an Excellent Institution for Rapid Local Finance Execution for 6 Consecutive Years

Selected as an ‘Excellent Institution’ 9 times in total, 6 years in a row, the only one among Seoul’s autonomous districts

Secured a financial incentive of 50 million KRW... Planned to be used as investment project funds to revitalize the local economy

Gwanak-gu (District Mayor Park Junhee) was the only autonomous district in Seoul to be selected as an ‘Excellent Institution’ in the final evaluation of local financial execution for the first half of 2023, achieving the feat of being selected as an excellent institution for six consecutive years.

With this ‘Excellent Institution’ selection, the district will receive a financial incentive of 50 million KRW, which is planned to be invested as project funds to revitalize the local economy. As a result, the total financial incentives secured by the district over the past six years amount to 734 million KRW.

The ‘Local Financial Execution Evaluation’ conducted by the Ministry of the Interior and Safety targets 243 local governments nationwide and is a system designed to stabilize the livelihood economy through rapid public sector financial expenditure during economic downturns.

In February, the district established a financial execution promotion plan for the first half of the year with a strong commitment to recovering the local economy and continuously made every effort for efficient financial management.

Operating the ‘Rapid Execution Promotion Team’ led by the Deputy District Mayor, the district continuously monitored the progress and execution of large-scale investment projects, focusing on consumption and investment sectors closely related to residents’ lives, and took proactive measures to revitalize the local economy.

Park Junhee, Mayor of Gwanak-gu, said, “Despite the difficult economic conditions, all employees united with one heart to do their best to revitalize the local economy,” and added, “We will do our best in the second half of the year as well to play the role of a catalyst for the local economy through active financial execution.”

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