Public Institutions to Increase Investment by Additional 3 Trillion Won... '69 Trillion Won' Expected to Be Executed This Year

Record-High First Half Investment of 39.9 Trillion Won

Kang Younggyu, Director General for Fiscal Management at the Ministry of Economy and Finance, held the '24th Public Institution Investment Execution Review Meeting for 2025' on November 20 and called for proactive investment execution and strict safety management by public institutions through the end of the year. Representatives from 26 organizations, including Korea Land and Housing Corporation (LH), Korea Electric Power Corporation, National Railroad Authority, and Korea Expressway Corporation, attended the meeting.

View of the Ministry of Economy and Finance building. The Asia Business Daily DB

This year, the government set an annual investment execution target of 66 trillion won for 26 major public institutions and achieved a record performance by executing approximately 60% (39.9 trillion won) in the first half of the year. The government now expects to execute around 69 trillion won by the end of the year, about 3 trillion won more than the initial target.

Director General Kang expressed his gratitude to public institutions for their efforts to execute investments despite challenging domestic and international economic conditions this year, stating, "These efforts have contributed to our economic recovery, resulting in a 1.2% growth in real gross domestic product (GDP) in the third quarter."

Meanwhile, at this meeting, as a follow-up to the 'Measures to Strengthen Public Institution Safety Management' announced by the Public Institution Management Committee in September, the government reviewed the status of public institutions' safety budget execution for the first time. Director General Kang stated, "Based on this year's performance review, it is expected that over 90% will be executed by the end of the year," and requested continued efforts for additional execution.

He also noted, "Recently, major accidents have continued to occur at public institutions, including the Ulsan thermal power plant accident, and it is crucial to remain vigilant and ensure thorough safety management." He emphasized, "In particular, there needs to be a focused inspection of safety management at construction sites for contracted projects, the safety management levels of subcontractors, and workers' compliance with safety regulations."