Gwangju City to Swiftly Execute 4.3 Trillion Won in the First Half of This Year

Briefing Led by Vice Mayor for Administrative Affairs
63% of This Year's Budget to Be Executed Early

Kwangwan Ko, Deputy Mayor of Gwangju, presided over the "Rapid Execution Meeting" on the afternoon of the 11th at the Deputy Mayor's Office in City Hall, checking the progress status of each department and bureau. Provided by Gwangju City

The city of Gwangju is accelerating the prompt execution of its budget to revitalize the local economy, which has been dampened by incidents such as the '12.3 Martial Law and Rebellion Situation.' The city plans to play a leading role in stabilizing the livelihood economy and stimulating economic growth by setting a target rate for rapid fiscal execution in the first half of this year and launching a strategic all-out effort for fiscal management.

According to Gwangju City on the 12th, the city held a 'Local Finance Rapid Execution Briefing' the previous day, presided over by Vice Mayor for Administrative Affairs Ko Gwangwan, to discuss the current status and direction of rapid execution for the first half of this year.

The city aims to execute 4.3 trillion won, or 63% of this year's total budget of 6.8 trillion won, in the first half of the year.

The main targets for rapid execution management include 40 budget statistical items such as the general account, special accounts, and funds. Key items include implementation costs for customized welfare systems, facility expenses, material costs, and subsidies for private and autonomous organizations.

In particular, in accordance with local contract special provisions and guidelines for proactive rapid execution, the city plans to shorten the payment period?which typically takes 65 days from ordering to contract review, bid announcement, eligibility review, and advance payment?by about 50 days. In addition, the city will cooperate with accounting departments to maximize advance payments and encourage monthly interim payments, preparing various measures to increase the execution rate.

The city will form and operate a 'Rapid Execution Task Force' led by the Vice Mayor for Administrative Affairs, continuously monitoring the status of fiscal execution and supporting the resolution of difficulties in the execution process to ensure the achievement of its goals.

Vice Mayor Ko Gwangwan emphasized, "Gwangju City is joining forces with 76 organizations and groups, including economic and industrial sectors, to overcome the crisis in the local economy through '2025 Gwangju Economy Together Step by Step (Good Consumption, Good Finance, Good Jobs) Gwangju' as one team," and added, "We will make every effort to revitalize the economy by accelerating the rapid execution of local finances."

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