Gyeonggi Office of Education Saves 27.3 Billion KRW Through Contract Review Last Year

The Gyeonggi Provincial Office of Education saved 23.7 billion KRW in budget last year through the contract review system.

The contract review system is a system that reviews and adjusts whether the cost estimation is appropriate before bidding and signing contracts.

Gyeonggi Provincial Office of Education

Last year, the Office of Education conducted reviews on 2,533 projects in total, including 1,206 construction projects, 695 service projects, and 632 goods projects, among orders issued by public schools at all levels, kindergartens, education support offices, the provincial office of education, and affiliated institutions.

The Office of Education reviewed design errors, compliance with relevant laws and regulations, and the rational application of design methods, resulting in budget savings of 22 billion KRW in construction, 800 million KRW in services, and 900 million KRW in goods, totaling 23.7 billion KRW.

Park Man-young, head of the Financial Management Division at the Office of Education, stated, "The error rate in cost calculation among review items decreased from 3.7% in 2012 to 1.2% last year, indicating that the contract review system has entered a stable phase. We expect this system to promote budget operation efficiency and improve the quality of school facilities."

Meanwhile, the Office of Education was the first educational administrative institution to introduce the contract review system in 2012.