Gwanak-gu Selected as an 'Outstanding Institution for Rapid Execution of Local Finance in the First Half of the Year' for Two Consecutive Years

Awarded the Minister of the Interior and Safety Commendation for Outstanding Fiscal Execution in the Second Half of 2023
Selected as an Excellent Institution 11 Times Over 7 Consecutive Years, Securing a Total Fiscal Incentive of 819 Million KRW

Gwanak-gu (District Mayor Park Jun-hee) has been selected as an "Excellent Institution" for two consecutive years, the only autonomous district in Seoul to receive this recognition in the "2024 First Half Local Finance Execution" evaluation.

The Ministry of the Interior and Safety conducted the "2024 First Half Financial Execution Evaluation" targeting 243 local governments nationwide, assessing performance based on the execution amount relative to the budget execution target. This system is designed to stimulate the livelihood economy by inducing rapid fiscal expenditure in the public sector during economic downturns and to enhance the efficiency of financial management.

Despite challenging financial execution conditions, the district executed 154.7 billion KRW (61.9%) out of the 249.9 billion KRW rapid execution target amount in the first half, exceeding the Ministry of the Interior and Safety's target by 114%.

With this selection as an "Excellent Institution," the district will receive a financial incentive of 20 million KRW, which is planned to be invested in projects to revitalize the local economy.

Thus, the district has achieved the remarkable feat of being selected as an excellent institution for seven consecutive years, securing a total of 819 million KRW in financial incentives over 11 occasions during the past seven years.

The district actively utilized rapid execution guidelines such as ▲emergency bidding ▲activation of advance payment execution ▲shortening of contract-related review periods ▲temporary expansion of private contracts to enhance execution efficiency.

Additionally, operating the "Rapid Execution Promotion Team" led by the Deputy District Mayor, the district has devoted full efforts to focused management of financial execution by ▲establishing a close cooperation system among budget, expenditure, and project departments ▲continuously monitoring large-scale investment projects ▲holding rapid execution promotion meetings.

In particular, the consumption and investment sectors closely related to the livelihood economy executed a total of 152.8 billion KRW in the first half, revitalizing the local economy, which had been depressed due to prolonged high interest rates and high inflation, by maximizing public sector fiscal expenditure.

Meanwhile, the district was honored not only with the excellent institution selection for the first half but also received a commendation from the Minister of the Interior and Safety for outstanding performance related to local finance execution in the second half of 2023.

District Mayor Park Jun-hee said, "Being selected as an excellent institution for rapid execution for seven consecutive years is a meaningful achievement made possible by the efforts of all employees," adding, "In the second half, we will do our best to revitalize the local economy through rapid financial execution focusing on projects with significant economic ripple effects."

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