Hapcheon-gun Fully Commits to Economic Revitalization through Rapid Budget Execution

Practical Execution Plan for Local Residents to Feel the Revitalization of Gyeonggi Economy

Exterior view of Hapcheon County Office Building

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hapcheon-gun, Gyeongnam announced on the 2nd that it will focus on rapid budget execution to recover the local economy, which has been contracted due to prolonged COVID-19, employment instability, and economic slowdown.

Accordingly, excluding payroll expenses and statutory operating expenses that are evenly executed, Hapcheon-gun set a target amount of 259.3 billion KRW, which is 60% of the rapid execution target amount of 432.1 billion KRW, and will focus on execution during the first half of the year.

This rapid execution will focus on a budget amount corresponding to 43 statistical items in the consumption and investment sectors, including personnel expenses with a large local economic ripple effect, goods expenses, book purchase expenses, facility expenses, asset and goods acquisition expenses (totaling 366.8 billion KRW), aiming to carry out practical execution that allows local residents to feel the economic revitalization.

To this end, a Rapid Execution Promotion Team (led by Deputy Governor Choi Yong-nam) will be organized and operated to ▲ intensively manage large-scale investment projects over 1 billion KRW and carryover projects ▲ report execution performance by department twice a month chaired by the governor ▲ hold countermeasure reports by working-level staff twice a month chaired by the deputy governor ▲ utilize local finance rapid execution guidelines for execution, actively working to improve the execution rate.

A county official said, “The rapid execution target is 4.9% higher than the Ministry of the Interior and Safety’s target figure of 55.1%,” adding, “We will focus on managing large-scale investment projects over 1 billion KRW and continuously monitor the execution rate daily to revitalize the stagnant local economy.”