Haenam-gun Achieves 63% Rapid Execution in First Half... Driving Local Economic Revitalization

Direct Impact on Local Economy: Consumption and Investment Exceed 145%, Strong Tangible Effects for Residents

Haenam-gun, Jeollanam-do achieved a 62.7% execution rate for rapid disbursement in the first half of 2024. During the first half of this year, Haenam-gun executed 324.5 billion KRW out of the rapid disbursement target amount of 517.4 billion KRW.

In particular, it exceeded the target by 51 billion KRW in consumption and investment sectors that directly affect the local economy, achieving an execution rate of 145% against the goal, playing a leading role in the public sector to overcome the difficult economic recession.

Since entering the 1 trillion KRW budget era in 2019, Haenam-gun has maintained the largest budget scale among county-level units nationwide for six consecutive years, operating an annual budget of 1.3 to 1.5 trillion KRW.

Haenam-gun Office Building Exterior View

Despite the increase in budget size, the execution rate has also risen every year, achieving an 84.3% execution rate last year, ranking first among county-level local governments nationwide for two consecutive years, establishing a model of efficient county administration.

Haenam-gun’s budget execution rate has improved annually from 66.7% in 2017 to 84.3% last year. During the same period, the main budget increased nearly twofold from 463 billion KRW in 2017 to 882.5 billion KRW this year.

The rising budget execution rate in Haenam-gun is interpreted as the result of a full-scale effort for rapid financial execution in the public sector as a catalyst to overcome difficult economic conditions.

Haenam-gun holds departmental self-inspection meetings and periodic progress report meetings, while addressing issues through case management of underperforming projects and monitoring the progress of carryover projects, making multifaceted efforts to improve the financial execution rate.

Additionally, for projects with significant economic ripple effects and close relevance to residents’ lives, the execution outlook is frequently checked to maximize expenditure expansion through advance payments for various goods and construction fees and completion of construction within the year.

Haenam-gun received the highest grade in the 2023 second half local finance execution evaluation conducted by the Ministry of the Interior and Safety and Jeollanam-do, achieving first place among county-level units for two consecutive years through rapid and efficient early execution.

County Governor Myeong Hyeon-gwan said, “Following the first half, we will focus on efficient and sound financial management so that the budget allocated through systematic financial execution of major projects in the second half is quickly injected into the field and felt by the residents.”