Haenam-gun Awarded 'Best' for Rapid Local Finance Execution by Ministry of the Interior and Safety... 3 Consecutive Wins

The Only Local Government Nationwide, Leading Significant Effects in Revitalizing the Regional Economy

Haenam-gun, Jeollanam-do received the Grand Prize in the Ministry of the Interior and Safety's Rapid Execution Evaluation for the first half of 2023, securing a financial incentive of 100 million KRW.

According to the county on the 17th, Haenam-gun has been selected as the top city/county for three consecutive times since 2022 in the local finance execution evaluation conducted twice a year, in the first and second halves.

Haenam-gun has won the Ministry of the Interior and Safety's Local Finance Rapid Execution Excellence Award for three consecutive years.
[Photo by Haenam-gun]

The three consecutive top awards is a unique record nationwide, and Haenam-gun’s rapid local finance execution performance is recognized as having firmly established a virtuous cycle structure that leads to economic revitalization.

In the first half of this year, Haenam-gun executed 322.1 billion KRW out of the rapid execution target amount of 493.5 billion KRW, achieving an execution rate of 65.3%, ranking first among 22 cities and counties in Jeollanam-do.

In particular, in the consumption and investment sectors that directly affect the local economy, Haenam-gun executed 248.6 billion KRW compared to the first half target of 192.3 billion KRW, exceeding the goal with an execution rate of 129.3%, achieving significant results in revitalizing the local economy.

This achievement by Haenam-gun is interpreted as the result of systematically managing the execution status by holding regular progress review discussion meetings under the judgment that a leading role of the public sector is necessary for local economic revitalization, significantly increasing the execution rate by department.

Especially for projects with large economic ripple effects and close ties to residents’ lives, the county frequently checked execution prospects and maximized expenditure expansion by advancing payments and progress payments for various goods and construction fees.

Haenam-gun’s local finance has operated the largest scale among county-level units nationwide, managing a budget of 1 trillion KRW since 2019 and operating 1.3217 trillion KRW last year.

Despite the increase in budget size, the execution rate has also increased every year, reaching 85.8% last year and ranking first nationwide.

County Governor Myeong Hyeon-gwan stated, “Through systematic financial execution of major projects, the budget will be promptly invested on-site, maintaining a virtuous economic cycle where benefits return to the residents. We will thoroughly manage key county projects to ensure active local finance execution in the second half to help revitalize the local economy.”

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