Local Governments Achieve 102 Trillion Won in Rapid Execution in Q1, Surpassing Target

2.4 Trillion Won Above First Quarter Target

As a result of the Ministry of the Interior and Safety and local governments promoting rapid execution to boost the regional economy, a total of 101.6 trillion won was achieved in the first quarter of this year.

According to the Ministry of the Interior and Safety on April 23, local governments recorded rapid execution results that exceeded the first quarter target of 99.2 trillion won by 2.4 trillion won. This is also higher than last year's first quarter result of 95.9 trillion won.

To increase the execution rate, the ministry formed the "Local Finance Rapid Execution Support Team," which conducted on-site consulting and execution monitoring meetings. At the provincial and metropolitan level, "Rapid Execution Promotion Teams" were operated to manage the execution status of cities, counties, and districts.

In addition, the ministry extended temporary special provisions for local contracts, identified various difficulties such as delays in administrative procedures and projects not yet funded by the central government, and supported local governments through inter-ministerial fiscal execution monitoring meetings.

The ministry awarded 10 billion won in special grants to 145 local governments that excelled in rapid execution in the first quarter and contributed to revitalizing the local economy through active fiscal investment. Furthermore, the rapid execution target for the first half of the year is set at 171.5 trillion won, and the ministry plans to make every effort to achieve this goal, especially given the challenging local situation due to large-scale wildfires.

Han Soonki, Director General for Local Finance and Economy at the Ministry of the Interior and Safety, stated, "Rapid execution of local finances is part of proactive administration, shortening administrative procedures and processing periods to promptly implement projects," and added, "We will actively cooperate with local governments so that rapid execution can serve as a catalyst for regional economic recovery."