Pohang City Named Best Institution for Three Consecutive Years in North Gyeongsang Province Contract Cost Audit Evaluation

Proven Excellence in Contract Cost Audit Operations... 2.6 Billion KRW Saved in Budget
Securing Fiscal Soundness and Efficiency... Minimizing Financial Burden

Pohang City has been awarded the top prize in the "2024 Contract Cost Audit Operation Evaluation" organized by North Gyeongsang Province, earning the honor of being selected as the best institution (ranked first) for three consecutive years from 2022 to 2024.

Employees of the Pohang City Audit Office are taking a commemorative photo with Mayor Kangdeok Lee at the city hall. Photo by Pohang City

With this award, Pohang City has once again proven itself as the leading contract cost audit institution in North Gyeongsang Province.

The "contract cost audit" is a preventive system that reviews the appropriateness and legality of cost estimates before project orders are placed, playing an important role in ensuring the soundness and efficiency of the city's finances.

The city received consistently high marks across all evaluation criteria, including budget savings and outstanding case studies. In 2024 alone, Pohang City conducted a total of 729 contract cost audits for construction, services, and goods, achieving budget savings of 2.6 billion KRW.

In addition, the city regularly conducts defect inspections after the completion of public buildings, with the participation of external professional auditors, specialized agencies, and responsible public officials.

Through these efforts, Pohang City thoroughly manages the response and repair of defects that occur within the defect liability period, thereby minimizing the financial burden required for facility maintenance.

Hwang Taeil, Director of the Pohang City Audit Office, stated, "We will continue to do our best to ensure that the city's budget is executed efficiently through fair and reasonable contract cost audits," adding, "We will also manage completed facilities with even greater care through regular defect inspections so that citizens can use public facilities with peace of mind."