Ulsan Office of Education, Swift Execution of 453.2 Billion KRW Education Budget in the First Half of the Year

The Ulsan Metropolitan Office of Education will rapidly execute 453.2 billion KRW of educational finances in the first half of the year to revitalize the local economy, which has been stagnant due to high interest rates and high inflation, and to enhance the efficiency of educational financial management.

This amount corresponds to 81.2% of the 558.4 billion KRW in project funds targeted for rapid execution by the city education office, reflecting its commitment to actively participate in revitalizing the Ulsan economy in line with government policies aimed at stimulating the sluggish economy.

To support local small business owners, the Ulsan Metropolitan Office of Education plans to pre-purchase educational equipment and supplies scheduled for purchase in the 2nd to 4th quarters during the 1st to 2nd quarters, advance payment of institutional operating expenses, and encourage full use of customized welfare expenses in the first half of the year.

To help activate the local construction market, the office also plans to promote early ordering of facility projects by actively applying temporary exceptions under the Local Contract Act, simplify contract procedures, and expand advance and progress payments.

Ulsan Office of Education.

The Ulsan Metropolitan Office of Education has formed the ‘Ulsan Education Finance Execution Management Inspection Team,’ led by the Deputy Superintendent, to achieve the goals of the rapid execution plan.

The inspection team will check the execution status of each institution (department) once a week and analyze the causes of underperforming projects to improve factors hindering rapid execution.

Choi Seong-bu, Acting Superintendent of Education, stated, “The local economy is struggling due to factors such as high interest rates, but we will strive to contribute to revitalizing the stagnant Ulsan economy through proactive rapid execution in the public sector.”

Last year, the Ulsan Metropolitan Office of Education achieved the Ministry of Education’s targets in all financial execution areas and secured 10 billion KRW in performance incentives.

By sector, this includes 1 billion KRW in consumption and investment in the first half, 1 billion KRW in net surplus funds, 5 billion KRW in special education account financial execution, and 3 billion KRW in school account financial execution.