Korea Local Finance Association Announces New Vision Aligned with National Policy Direction

Announcement of Four Strategic Directions, Twelve Key Focus Tasks, and Thirty-Nine Action Items
A World-Class Local Finance Institution Leading Balanced Regional Development

The Korea Local Finance Association (Executive Director Jeong Seonyong, hereafter referred to as the Association) announced a new vision on September 15, marking its 61st anniversary: "A world-class local finance institution leading balanced regional development."

Executive Director Jeong Seonyong of the Korea Local Finance Association (sixth from the left) and other executives are declaring a new vision and reaffirming their commitment to the future development direction of the association. Provided by Korea Local Finance Association

This new vision aims to proactively respond to environmental changes such as local extinction, climate change, and innovations in AI technology. In addition, it reflects the Association's policy commitment to align with the national vision of "A country where the people are the owners, a happier Korea together," and the new government's five major policy goals, including "balanced growth where everyone prospers."

The Association also unveiled four strategic directions to realize the new vision, along with 12 key focus tasks and 39 short- and long-term action items. The four strategies are: ▲Advancing core businesses and strengthening growth engines, ▲Enhancing the efficiency of local finance and accounting transparency, ▲Promoting the outdoor advertising industry and leading future innovation, and ▲Strengthening disaster safety management and earning the trust of the public and members.

Each strategy consists of tasks that can make a tangible contribution to the local finance field, such as building administrative infrastructure based on AI technology, establishing a Local Finance Education Center (tentative name), continuously developing disaster-related mutual aid products, expanding shared property management and safety consulting, and advancing global cooperation networks. In particular, the Association plans to focus its capabilities on enabling citizens and local governments to experience real change by introducing AI technology into local finance investment feasibility studies, expanding financial support for regions at risk of extinction, and upgrading non-face-to-face digital services.

This strategic framework goes beyond a simple vision statement, as it is based on actionable tasks identified by internal task forces, and a system has been established to quantitatively measure the performance of each strategy by 2030. Going forward, the Association plans to establish itself as a trusted institution for its members and the public, while responsibly implementing policies in line with national priorities.

Executive Director Jeong Seonyong stated, "In the face of the era's crisis of regional extinction, we have redefined the Association's role and responsibilities," and added, "As a platform institution with policy expertise and execution capability, we will focus all our efforts on making a substantial contribution to balanced regional development, improving the soundness of local finance, and establishing a disaster safety management system."

The Association is the only public interest corporation in Korea established to support the sound financial management and development of local governments. More than 420 organizations and institutions, including 243 local governments nationwide, are members. Based on the spirit of mutual aid, the Association carries out various mutual aid and support projects, and actively participates in sharing and sponsorship activities for local communities and marginalized groups in line with its ESG management policy.

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