Who Executed the Budget Best in the First Half?… Ulsan City Ranks First Among Metropolitan Governments

Prompt Local Fiscal Execution Drives Regional Economic Revitalization

Special Grants of 200 Million KRW, 2 Billion KRW in 'Balanced Special Account' Benefits

Ulsan City was selected as the best institution in fiscal execution among special and metropolitan cities in the first half of this year.

On the 5th, Ulsan City announced that it was chosen as the top metropolitan government in the “2023 First Half Fiscal Execution” hosted by the Ministry of the Interior and Safety.

Accordingly, it secured a total of 2.2 billion KRW in fiscal incentives, including 200 million KRW from the Ministry of the Interior and Safety as a special grant in 2023 and 2 billion KRW from the Ministry of Strategy and Finance’s 2024 National Balanced Special Account.

This evaluation was conducted on a total of 243 local governments, reflecting the rapid execution in the first half of 2023 and the consumption and investment execution results of the first and second quarters. The fiscal operation structures were grouped into two categories?metropolitan and basic local governments?with similar structures.

Among them, Ulsan City was selected as the best among special and metropolitan cities. Ulsan executed 3.0107 trillion KRW, exceeding the rapid execution target of 2.9727 trillion KRW for the first half, achieving 101.3% of the target. This figure is 4.2% higher than the national average of 97.1%.

In particular, consumption and investment projects, which have direct and economic ripple effects on the private economy, were executed at 444.2 billion KRW in the first quarter and 543.3 billion KRW in the second quarter, leading to the revitalization of the local economy.

Ulsan City explained that to ensure rapid fiscal execution, it held biannual meetings chaired by the Deputy Mayor of Administration to check the rapid execution status of major departments and districts/counties, discovering best practices and improving difficulties.

Additionally, a Rapid Execution Promotion Team was formed, led by the Director of the Planning and Coordination Office, to frequently monitor and manage fiscal execution status, focusing on budget execution in consumption and investment sectors closely related to the local economy, such as personnel expenses and facility costs.

An official from Ulsan City said, “Despite the global high interest rates, high inflation, and low growth environment in the first half of 2023, all employees made efforts to perform well in fiscal execution. We will continue to lead local economic growth through systematic budget management and execution in the second half.”

In the district/county evaluation, Buk-gu and Dong-gu of Ulsan were selected as excellent institutions, securing 50 million KRW each in special grants.

Ulsan City Hall.

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