Gwanak District Announces Fiscal Disclosure: Last Year's Budget Totals 1.3494 Trillion Won

Efforts to Supplement Independent Revenue
Securing 246.7 Billion Won in External Resources

Gwanak District in Seoul (District Mayor Park Junhee) has released its fiscal disclosure data based on the 2024 fiscal year settlement. Last year, the total budget of Gwanak District amounted to 1.3494 trillion won, an increase of 19 billion won compared to the previous year. The budget consisted of 200.3 billion won in independent revenue, 828.2 billion won in dependent resources, and 320.9 billion won in reserve income and internal transactions.

Gwanak District Office building exterior. Provided by Gwanak District.

This fiscal disclosure, based on the settlement, was provided in comparison with the average of other local governments with similar population and fiscal conditions. The scale of Gwanak District's budget was 26.7 billion won larger than the average of comparable local governments, which stood at 1.3227 trillion won.

The district has supplemented its relatively low independent revenue by actively securing external resources. Since the launch of the 8th popularly elected administration, it has attracted a total of 246.7 billion won in external resources, helping to resolve fiscal shortages and secure momentum for regional development.

In addition, Gwanak District has consistently maintained a sound fiscal status with no local debt or short-term borrowings, thereby increasing public trust among residents. Its systematic and transparent fiscal management has been recognized by winning the ‘Korea Local Government Accounting Award’ hosted by the Korean Institute of Certified Public Accountants for four consecutive years.

Park Junhee, Mayor of Gwanak District, stated, “We will continue to ensure that residents’ taxes are used efficiently where they are most needed through sound and responsible fiscal management.”

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