Goheung County Saves 1.6 Billion Won in First Half of Year Through Contract Review System

Goheung County in South Jeolla Province (Governor Gong Youngmin) is achieving tangible results in local fiscal efficiency through prudent financial management.

The county announced on July 2 that it had saved a total of 1,617 million won in budget expenditures in the first half of this year through the contract review system.

A view of Goheung County Office.

The contract review system is a policy designed to prevent budget waste and ensure fiscal soundness by pre-assessing the appropriateness of cost estimates before placing orders for county projects. It applies to construction projects worth 100 million won or more, service contracts of 50 million won or more, and the manufacturing or purchase of goods of 10 million won or more.

In the first half of this year, Goheung County reviewed a total of 275 projects. By sector, the county saved 1,137 million won from 122 construction projects, 432 million won from 76 service contracts, and 48 million won from 77 goods-related projects, resulting in a total budget saving of 1,617 million won. This is 964 million won more in savings compared to the same period last year.

A county official stated, "By thoroughly conducting cost analysis through contract reviews and preemptively blocking unnecessary budget expenditures, we are enhancing both the efficiency and transparency of local finances," adding, "We will continue to operate this system to further strengthen fiscal soundness in the future."

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