Jinju City Launches Preliminary Feasibility Study for Establishing Facility Corporation

Accelerating the Establishment of a Corporation for Efficient Management and Operation of Public Facilities

Jinju City Hall Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City in Gyeongnam Province is taking the first step toward establishing a facility corporation, a long-cherished project, by commencing a preliminary feasibility study service, a preliminary procedure for establishing the facility corporation, this November.

During the 7th elected term, the city has been actively promoting large-scale infrastructure construction projects with the goal of "Prosperous Jinju, Happy Citizens." In particular, the Prosperous Jinju 3 Major Projects are representative.

As a result, with an expected increase in various public infrastructures within a few years, the need to establish a facility corporation has been continuously raised to ensure efficient management of public facilities and to enhance citizen satisfaction.

Additionally, among the 18 local governments in Gyeongnam Province, 9 have already established and are operating local corporations or facility corporations, and Jinju City is the only one without such an organization in the city sector.

The preliminary feasibility study service to be conducted this November is, as the name suggests, a comprehensive preliminary review process for establishing the facility corporation.

This service will thoroughly review the appropriateness of establishing the corporation for various public facilities and projects in fields such as sports, transportation, and culture, analyze the profitability of each facility and project, assess organizational and personnel needs, and examine the impact on the local economy and city finances.

Based on the results of the service, the city plans to prepare a comprehensive facility corporation establishment plan, including selecting suitable facilities and projects for the corporation in consultation with related departments.

The establishment plan will undergo a first preliminary consultation with the province and then proceed through a feasibility study service conducted by a specialized institution designated and announced by the Ministry of the Interior and Safety for local public enterprise establishment feasibility review. If feasibility is secured, subsequent procedures such as holding a public hearing, forming and operating an establishment review committee will follow.

A Jinju City official emphasized, "The establishment of the facility corporation is an urgent task that cannot be postponed and is essential for improving citizen convenience and efficient management of public facilities," adding, "We will accelerate the process aiming for the corporation's launch in 2023."