Daegu City Councilor Hwang Sun-ja "Stronger Supervision Needed for Invested and Affiliated Institutions"... Introduces Ordinance as Lead Sponsor

Hwang Sun-ja, a member of the Daegu Metropolitan Council (People Power Party, Dalseo-gu 3), announced on the 15th that she has taken the lead in proposing the "Partial Amendment to the Ordinance on the Operation of Investment and Contribution Institutions under Daegu Metropolitan City," which includes strengthening the council's monitoring and supervisory functions over investment and contribution institutions under Daegu City, at the 312th extraordinary session.

Until now, the subsidies for investment and contribution institutions under Daegu City have been operated relatively autonomously out of respect for the independence of the institutions, resulting in lax oversight despite the use of citizens' taxes, and there have been criticisms regarding the lack of accountability of these institutions.

Daegu City Council Member Hwang Sun-ja

Council member Hwang Sun-ja stated, "We aim to strengthen the Daegu Metropolitan Council's monitoring and supervisory functions over investment and contribution institutions, which have been insufficient so far, and to increase the accountability of institution operations," adding, "This ordinance was proposed to ensure that citizens' precious taxes are used appropriately under heavy responsibility."

The ordinance includes provisions such as mandatory submission of business plans and budget and settlement reports to the council when the budget of investment and contribution institutions is established or changed, and conducting audits by the mayor on the relevant institutions if it is confirmed that subsidies have been used improperly.

This ordinance will be reviewed by the relevant standing committee (Planning and Administration Committee) on the 15th and, if approved at the 3rd plenary session on the 21st, will be promulgated and come into effect immediately.