Creating a Dashboard to Manage 12 Major Fiscal Projects of the 'Yoon Government Vision'

Green-Yellow-Orange-Red 4-Color Board
'Interagency Collaboration' Like the US Federal Government
Quarterly Performance Management
Minimizing Overlap Among 7 Evaluation Projects
Strengthening Penalties for Subsidy Fraud

A 'dashboard' will be created to manage the quarterly performance of the Yoon Suk-yeol administration's 12 core fiscal projects. Similar to the U.S. federal government, the barriers between ministries will be removed, and a pilot program for 'multi-ministerial collaborative project performance management' will be introduced to generate tangible results that the public can feel through inter-ministerial cooperation. Overlaps among seven evaluation projects from six major ministries will be minimized, and penalties for fraudulent receipt of government subsidies will be strengthened.

The Ministry of Economy and Finance reported the '2024 Fiscal Project Performance Management Promotion Plan' containing these details to the Cabinet meeting on the 30th.

This plan is the second-year implementation plan based on the 'Basic Plan for Fiscal Project Performance Management' from 2022 to 2026. Last year's plan focused on establishing the infrastructure for fiscal project performance management and introducing new systems such as the '12 Core Fiscal Project Performance Management System.' This year, the focus is on performance management to produce visible results from fiscal projects.

In particular, the 12 core fiscal projects reflecting the Yoon Suk-yeol administration's national agenda will be managed continuously using the 'PI (Performance Information) board' method. Performance indicator achievement levels and progress on system improvements will be checked quarterly, and results will be displayed in order of green (very high likelihood of achieving goals) - yellow (high) - orange (low) - red (very low) to enhance the visibility of performance management. However, it has not yet been decided whether a physical dashboard, like the one during the Moon Jae-in administration, will be created. Kim Myung-jung, Director of Fiscal Performance Review at the Ministry of Economy and Finance, stated, "There are over 100 national agendas, but only the 12 core fiscal projects selected among them will be managed through the PI board," adding, "It has not yet been decided whether the dashboard will be created offline or online."

Customized performance management will be pursued for each of the 12 core fiscal projects according to their conditions and characteristics. For example, for three projects?▲Youth Asset Formation and Job Support ▲Strengthening Supply Chain Response Capabilities ▲Enhancing Defense Capabilities?system improvements have reportedly resolved major issues early, so the focus will be on monitoring performance by indicator. For the eight projects deemed to require continuous performance management and system improvements, system improvements and project redesign will be implemented.

The eight projects are ▲Building a Robust Social Safety Net ▲Targeted Support for Vulnerable Groups ▲Regional Balanced Development ▲Securing a Semiconductor Industry Super-Gap ▲Focused Investment in Core Strategic Technologies ▲Strengthening Competitiveness of SMEs, Ventures, and Small Businesses ▲Advancing Disaster and Safety Management Systems ▲Enhancing National Prestige and Diplomatic Capabilities. Projects with significantly reduced need for performance management due to changes in the policy environment will be replaced by other projects. The performance management task force will include policy beneficiaries related to the core fiscal projects, such as youth, people with disabilities, and consumer groups, to strengthen the function of collecting field opinions.

Separately from the performance management of the 12 core fiscal projects, a 'multi-ministerial collaborative project performance management' track will be piloted this year to generate results through inter-ministerial collaboration. This follows President Yoon Suk-yeol's recent directive to "break down barriers between ministries and actively collaborate." The U.S. federal government and the New Zealand government also operate performance management systems through multi-ministerial collaboration.

Initially, multi-ministerial collaborative projects that can only be solved and produce results through cooperation among multiple ministries will be selected, and common performance indicators that the public can feel will be established to achieve results. The Ministry of Economy and Finance will act as a control tower to induce collaboration between ministries during this process. Director Kim explained, "Projects such as after-school care and K-Digital talent development are being considered as candidates," adding, "The Office for Government Policy Coordination is collecting projects from ministries, and a final decision is expected next month."

Performance management of extended evaluations for government subsidy projects will also be strengthened. Subsidy projects with at least one instance of fraudulent receipt detected in the past three years will be restricted from receiving a 'normal' subsidy rating, and ministries with excellent improvement efforts, such as recovering fraudulent subsidies or providing incentives for self-detection, will receive additional points in evaluations. The scoring for 'appropriateness of subsidy project management' will be increased from 20 points to 30 points.

The seven performance evaluations currently conducted by six major ministries will also be reorganized. Currently, the Ministry of Economy and Finance conducts fiscal project self-evaluations and lottery fund evaluations; the Ministry of Science and ICT conducts research and development (R&D) evaluations; the Ministry of the Interior and Safety conducts disaster safety evaluations; local governments conduct balanced development evaluations; the Ministry of Employment and Labor conducts job project evaluations; and the Ministry of SMEs and Startups conducts small business support project evaluations. Overlaps among these will be minimized. To enhance evaluation consistency, common evaluation items will be expanded to the lottery fund evaluation, and relative evaluation methods will be expanded in the R&D system. To systematically support performance-centered fiscal management, the fiscal project performance information database (DB) will be expanded, and public disclosure of performance information through 'Open Finance' will be actively expanded.

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