Early Execution of 4.8 Trillion KRW Out of This Year's 25 Trillion KRW SOC Budget

Joint Fiscal Execution Review Meeting by the Ministry of Economy and Finance and Related Ministries

The government announced that out of the 25.1 trillion won allocated for social overhead capital (SOC) this year, 4.8 trillion won had been spent as of the end of last month, exceeding the same period last year by 1.5 trillion won.

On the 7th, the Ministry of Economy and Finance disclosed the status and plans for rapid fiscal execution at the 'Fiscal Execution Review Meeting' held at the Government Seoul Office, chaired by Second Vice Minister Kim Yoon-sang.

Vice Minister Kim said, "We are focusing on managing fiscal SOC projects to ensure SOC investment drives economic recovery," adding, "by sector, as of the end of last month, 1.4 trillion won was spent on railroads and 1 trillion won on roads, exceeding the same period last year by 1.5 trillion won."

Vice Minister Kim also stated, "Going forward, we plan to enhance SOC project execution in the first half of the year through prompt contract signing and advance and progress payments for road and railroad construction projects."

Additionally, since construction work that was halted during the winter season will fully resume this month, he urged all agencies to strengthen inspections to prevent safety accidents at construction sites.

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