Selected as an Outstanding Institution in Budget Reduction
Secures 100 Million Won in Special Grants
Gyeongsan City (Mayor Cho Hyunil) announced on December 18 that it has been selected as an outstanding institution in the budget reduction category at the "2025 Korea Local Finance Awards." The city will receive the Minister of the Interior and Safety Award and a special grant of 100 million won as an incentive.
This award follows Gyeongsan City's recognition at the "2025 Local Fiscal Soundness Forum," hosted by North Gyeongsang Province in September, where the city received an encouragement award for its case study, "Zero Waste Through Comprehensive Security Light Survey and Significant Reduction in Electricity Costs." The Ministry of the Interior and Safety then reviewed outstanding cases recommended by metropolitan cities and provinces, and on December 16, selected Gyeongsan City's case as the final outstanding example in the budget reduction category.
Gyeongsan City conducted a comprehensive survey and update of 14,835 security lights across the city. The city removed security lights that had been dismantled due to urban development and road construction, adjusted fees for low-efficiency security lights to LED standards, and newly registered unreported security lights. As a result, the city reduced its annual security light electricity costs from 1.08 billion won to approximately 720 million won.
Through these efforts, Gyeongsan City achieved an annual budget reduction of about 360 million won and significantly improved the efficiency of future maintenance and electricity billing by systematically updating its security light management information.
Mayor Cho Hyunil stated, "This award is especially meaningful as it is the result of the city's systematic financial management and thorough on-site inspections leading to tangible outcomes. Moving forward, we will continue to meticulously identify and address factors that cause budget waste, focusing on public facilities closely related to citizens' lives, and do our utmost to operate local finances efficiently and transparently."
The Korea Local Finance Awards, hosted annually by the Ministry of the Interior and Safety, aim to enhance the soundness and efficiency of local finances. The awards recognize and reward outstanding local governments based on comprehensive evaluations of achievements in budget efficiency, innovation in the operation of local subsidies, and increased revenue, after both document and presentation reviews of cases recommended by cities, provinces, and municipalities.
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