Muan-gun Receives Special Award at 2023 Local Finance Awards

Minister of the Interior and Safety Award in the Financial Analysis Division, Acquisition of 100 Million KRW Special Grant

Muan-gun, Jeollanam-do (Governor Kim San) received the Minister of the Interior and Safety Award in the financial analysis category at the '2023 Korea Local Finance Awards' ceremony held on the 19th.

According to the county on the 20th, it received a special award as the local government with the largest increase in overall score in the 2023 local finance analysis results, along with the ministerial commendation and a special grant of 100 million KRW.

The local finance analysis is a representative local finance performance analysis system that annually evaluates 243 local governments nationwide by grouping local governments with similar population and financial conditions, analyzing and assessing the previous year's settlement data based on 14 major financial indicators in three areas: soundness, efficiency, and planning.

Receiving a special award at the 2023 Korea Local Finance Awards and taking a commemorative photo.
[Photo by Muan-gun]

In this evaluation, Muan-gun maintained a surplus finance with an integrated financial balance ratio, calculated by subtracting net expenditure from net income, of 10.70%, which is significantly higher than the national average of 5.26%. It also recorded an integrated current liabilities ratio of 4.4% (national average 22.23%) and managed debt without issuing local bonds, achieving an excellent level compared to the national average and earning an 'A' grade in the financial soundness category.

Additionally, the local tax delinquency management rate was maintained at a very low 0.32%, compared to the national average of 0.95%, and the non-tax revenue growth rate rose sharply by 38.91% compared to the previous year. Due to the high financial efficiency, the overall grade jumped three levels from 'D' to 'B', resulting in the special award.

Governor Kim San stated, "We will continue to actively discover national and provincial projects to secure finances, and strive to operate a sound and efficient budget by reducing unnecessary expenditures through strong expenditure restructuring."

Muan = Asia Economy Honam Reporting Headquarters, Reporter Oh Hwan-joo just8440@asiae.co.kr

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