Minister of Land, Infrastructure and Transport: "Public Institutions Must Ensure No Delays in Early Fiscal Execution... Also Expand Safety Investments"

by Roh Kyungjo

Published 07 Feb.2024 18:23(KST)

On the 7th, Park Sang-woo, Minister of Land, Infrastructure and Transport, urged public institutions under the Ministry to accelerate fiscal spending and expand investment in safety sectors in response to the expanded application of the Serious Accidents Punishment Act.

Minister of Land, Infrastructure and Transport Park Sang-woo is speaking at the meeting of heads of affiliated organizations of the Ministry of Land, Infrastructure and Transport held at the Government Sejong Complex on the afternoon of the 7th. / Photo by Ministry of Land, Infrastructure and Transport

At the 'Meeting of Heads of Institutions under the Ministry of Land, Infrastructure and Transport' held at the Government Sejong Complex on the same day, Minister Park said, "Please ensure the early execution target of 55% in the first half of the year is steadily pursued through measures such as expanding advance payments, so that fiscal and public investments can serve as a catalyst for economic recovery." The government has selected social overhead capital (SOC) as a key management target this year and plans to execute 65% of the budget in the first half.

He also requested special attention to the safety sector. Minister Park emphasized, "Please pay closer attention at construction, road, and railway sites to prevent backward-type industrial accidents caused by inadequate safety management systems," adding, "Since the Serious Accidents Punishment Act has recently been expanded to include sites with construction amounts under 5 billion won, please increase investment in safety areas such as purchasing necessary equipment and providing education for site safety."

He continued, "Please make efforts to ensure that small and medium-sized companies participating in construction projects conducted by each institution can receive appropriate consulting services and safety equipment."

Furthermore, Minister Park stated, "Although the public discussion events on people’s livelihood have ended, policy-making is just beginning," and added, "Public institutions under the ministry must operate organically like gears."