Busan Urban Corporation Ranks First in Fiscal Execution Rate Among City-affiliated Agencies in First Half

80% Executed, 356.3 Billion Won Spent Compared to Ministry of the Interior and Safety's 57% Standard

Contributing to Capital Circulation... A Catalyst for Revitalizing the Local Economy

Busan Metropolitan Corporation (BMC, President Kim Yonghak) announced on the 9th that it executed 356.3 billion won, which is 80.3% of the target amount for expedited fiscal execution in the first half of 2024, exceeding the standards set by the Ministry of the Interior and Safety (57.0%) and Busan City (61.5%).

Despite the difficulties in the real estate market and global economic volatility, BMC achieved the highest performance among Busan City-affiliated organizations in both execution rate (80.3%) and total execution amount (356.3 billion won).

A BMC official explained that the prompt execution of public finances serves as a priming pump for revitalizing the local economy by facilitating the circulation of funds in the market.

With this achievement of an 80.3% expedited execution rate, BMC has maintained an average rate of over 80% for three consecutive years?79.9% in 2022 and 83.5% in 2023?demonstrating the corporation's ongoing efforts.

To continue these efforts, BMC has been conducting weekly and monthly business reports and continuous monitoring of expedited execution, as well as focusing on proactive budget execution by providing advance and progress payments for ongoing projects.

Kim Yonghak, President of Busan Metropolitan Corporation, stated, "We will make even greater efforts to actively implement projects and expedite budget execution to contribute to the vitality and growth of the local economy."

Busan Urban Corporation