Compete for the 4 Trillion Won Annual Daegu Education Treasury... Fierce Battle Between Nonghyup Bank and iM Bank

To Be Selected by the Review Committee in August
"Decision Made Through Fair Competition"

The Daegu Metropolitan Office of Education (Superintendent Kang Eunhee) announced that it will issue a bidding notice on the office’s website and in the Daegu City bulletin on the 19th for the designation of an education treasury bank to be operated for four years starting in 2025.

The education treasury bank, where this year's budget of 4.2798 trillion won for the Daegu Metropolitan Office of Education will be deposited, has been operated by NongHyup Bank since January 2021. As the contract period expires on December 31 this year, the Daegu Metropolitan Office of Education plans to select the optimal education treasury bank through an objective and fair competitive process.

Daegu Office of Education

On the 25th, a bidding briefing session will be held at the Daegu Metropolitan Office of Education for financial institutions interested in applying for the treasury designation, providing instructions on how to prepare proposals. Proposals will be submitted on August 5.

Subsequently, on August 27, the Treasury Designation Review Committee will evaluate five criteria (17 detailed items): credit rating and financial stability (30 points), loan and deposit interest rates for the Office of Education (23 points), user convenience (18 points), treasury management capability (22 points), and contributions and cooperation projects with educational institutions (7 points). The financial institution with the highest score will be selected as the education treasury bank.

The Treasury Designation Review Committee will consist of 11 members: four external experts (a lawyer, a certified public accountant, a tax accountant, and a university professor), two Daegu City council members, one school operation committee chairperson, and four internal members.

Kang Eunhee, Superintendent of Daegu Metropolitan Office of Education, stated, "An education treasury bank that will manage and operate educational finances for the next four years must be selected through an objective and fair competition," and added, "I urge financial institution officials to show great interest in the designation of the education treasury bank and actively participate in the bidding for the sake of our children."