'LG CNS Consortium' Selected as Business Operator Completed
[Asia Economy Reporter Lim Cheol-young] The local finance system will be completely revamped to innovate local finance operations and provide customized services for residents.
On the 27th, the Ministry of the Interior and Safety announced that it has completed the selection of the 'LG CNS Consortium' as the contractor for the next-generation local finance management system construction project, and will hold a kickoff meeting online on the 28th with about 300 participants including local government officials, the Korea Local Information Research & Development Institute, and private contractors.
The next-generation local finance management system is used by all 243 local governments nationwide and 330,000 local public officials for budget formulation, expenditure, settlement, and more. A total of 101.7 billion KRW will be invested by 2023, aiming for full launch on January 2, 2024.
This next-generation local finance management system focuses on implementing four strategic tasks. The local finance work innovation task will build a system for financial work processing and project management to improve the quality of financial information and connect previously disconnected work processes to resolve user inconveniences. By establishing a new local subsidy system, local finance functions will be jointly utilized to manage the entire subsidy project process from public contests, project execution, execution and settlement, to post-management, and establish a subsidy project verification system. Through this, a system to prevent overlapping and fraudulent subsidies between the national and local governments will be established, enabling effective responses to various fraudulent receipt acts.
By applying the latest digital new technologies such as artificial intelligence (AI), big data-based fiscal policy decision-making, counseling services, and robotic process automation (RPA)-based work automation, an intelligent work environment implementation service will also be provided. To provide customized project information closely related to residents' lives, financial information disclosure will be expanded through ‘Jibangjaejeong365’ and resident participation budget platforms will be provided to offer user-centered services.
The Ministry of the Interior and Safety plans to continuously consult on policy directions and detailed implementation plans through policy councils involving all 243 local governments and private experts, as this is an important project with a large budget that affects the quality of life of residents nationwide.
Project leader Ahn Byung-yoon said, “The next-generation local finance management system construction project is preparing the core infrastructure for digital local finance innovation,” and added, “The system development will start after sufficiently gathering opinions from users and service provision perspectives from the early stages of development.”
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