Suwon City Saves 1.56 Billion Won in Budget Last Year Through Contract Review

It has been revealed that Suwon City in Gyeonggi Province saved 1,563 million won last year through contract review and monitoring of design changes.

On the 17th, Suwon City announced that it reviewed 329 contracts totaling 9.61 billion won for projects commissioned by the city hall, district offices, affiliated offices, and public institutions, resulting in a budget reduction of 1,535.46 million won. Additionally, by monitoring 46 cases of design changes for small-scale construction projects worth 2.3 billion won, the city further reduced the budget by 28.08 million won.

Contract review is a system in which local governments examine and evaluate the base and estimated prices for bidding and contracting, as well as the appropriateness of design change amounts, for projects they commission.

Suwon City Hall

Suwon City mandates contract review for public works projects worth 200 million won or more, services worth 70 million won or more, and goods purchases worth 20 million won or more for projects commissioned by the city hall, district offices, and affiliated offices, while recommending contract reviews for public works projects exceeding 100 million won.

The city also monitors design changes for small-scale construction projects—specifically, those with contract amounts of 50 million won or more but less than 500 million won, where the contract amount increases by 10% or more—in order to prevent budget waste in advance.

A Suwon City official stated, "We will continue to ensure that the budget is not wasted through contract reviews," adding, "We will do our utmost to operate public finances soundly and to carry out projects smoothly."

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