Gwanak-gu Launches Full-Scale Effort for Rapid Fiscal Execution to Revitalize Local Economy

Rapid Execution of 149.6 Billion KRW in the First Half of This Year to Fully Support Local Economic Recovery... Selected as an Excellent Institution for 9 Consecutive Rapid Executions Over the Past 6 Years... Secured Financial Incentives of Over 730 Million KRW Used for Projects Benefiting Residents

Gwanak-gu (Mayor Park Jun-hee) is launching an all-out strategic financial execution campaign by setting a rapid financial execution target rate for the first half of this year to revitalize the local economy, which has been weakened by prolonged high interest rates and high inflation.

'Local Government Rapid Financial Execution' is a system designed to stabilize the livelihood economy through swift public sector financial expenditures during economic downturns and to enhance the efficiency of financial management. The district set the rapid execution target rate for the first half at 60%, which is 5.7 percentage points higher than the rate suggested by the Ministry of the Interior and Safety.

According to this target, the district plans to promptly execute 149.6 billion KRW out of the 249.3 billion KRW budget allocated for financial execution in the first half of the year. In particular, 67.3 billion KRW will be spent in the first quarter on consumption and investment sectors closely related to the livelihood economy to maximize public sector financial expenditures.

As key measures, the district plans to actively utilize rapid execution guidelines such as ▲emergency bidding ▲activation of advance payment execution ▲shortening of contract review periods ▲temporary expansion of private contracts to improve execution efficiency.

Additionally, a 'Rapid Execution Promotion Team' led by the Deputy Mayor will be formed to establish a continuous financial execution monitoring system, focusing on managing the execution of investment projects and resolving obstacles in financial execution.

Mayor Park Jun-hee stated, "The local economy is facing difficulties due to economic slowdown caused by high inflation and high interest rates, making the role of the public sector even more important. We will do our utmost to ensure that the prompt injection of local finances in line with the government's policy direction serves as a catalyst for revitalizing the local economy."

Meanwhile, the district has been selected as an 'Excellent Institution for Local Government Rapid Financial Execution' nine times consecutively over the past six years, demonstrating strong determination and proactive financial management for local economic recovery. The financial incentives of approximately 730 million KRW secured as a result were used for public job projects and maintenance of side roads for the benefit of residents.