Investment execution by major public institutions, including Korea Land & Housing Corporation (LH) and Korea Electric Power Corporation, is expected to reach 69 trillion won, up 3 trillion won from the annual target of 66 trillion won.
The Ministry of Economy and Finance held the 24th inspection meeting on public institution investment execution for 2025 on the 20th to review the investment execution status of 26 major public institutions. The annual target for public institution investment execution this year was 66 trillion won, but 39.9 trillion won was executed in the first half alone. This is 60% of the annual target and the largest on record. The Ministry of Economy and Finance (MOEF) expects that 69 trillion won, 3 trillion won more than the early-year target, will be executed by year-end. Korea Land & Housing Corporation (LH)'s construction of dwellings and Korea Electric Power Corporation's transmission and substation line projects are included in the investment execution performance of public institutions.
At the meeting, Kang Young-gyu, fiscal management officer at the Ministry of Economy and Finance (MOEF), said that the investment execution efforts of public institutions contributed to the recovery of the economy, adding, "As a result, I think real gross domestic product (GDP) grew 1.2% in the third quarter."
The meeting also reviewed the execution status of safety budgets at public institutions. This was the first time the execution status of safety budgets at public institutions had been examined, and it was a follow-up to the measures to strengthen safety management at public institutions released at the Public Institution Management Committee on Sept. 1. The crux of the measures was the establishment of grounds for dismissing heads of institutions responsible for serious industrial accidents.
Kang, the fiscal management officer, said that to create safe public workplaces, the execution of safety budgets needs to be recognized as an investment rather than an expense, adding, "As large-scale accidents continue to occur at public institutions, including the recent Ulsan thermal power plant accident, maintain vigilance and make every effort in safety management."