The Ministry of the Interior and Safety noted on the 19th that the '2024 Korea Local Government Finance Awards' ceremony was held at the Grand Auditorium of the Sejong Government Complex.
At this awards ceremony, 21 local governments were honored, including 12 awards for local government finance, five for excellent financial analysis, and four for outstanding resident participation budgets.
The local government finance best practices were evaluated in four categories: ▲ budget savings ▲ innovation in local subsidy management ▲ local government tax increase ▲ increase in non-tax revenue. As a result, the presidential awards were given to Incheon and Gyeonggi. The Prime Minister awards went to Daegu, Gwangju, Cheongju in Chungbuk, and Gimhae in Gyeongnam.
The Ministry of the Interior and Safety also introduced the integrated financial operation evaluation this year, measuring ▲ revenue increase ▲ expenditure efficiency ▲ financial execution ▲ financial planning and management. According to this evaluation, Busan and Gimje in Jeonbuk received presidential awards.
The excellent financial analysis entities received the Minister of the Interior and Safety awards, including Ulsan, Gyeongbuk, Anyang in Gyeonggi, Namhae County in Gyeongnam, and Yeonsu District in Incheon.
In addition, four groups including Daegu, Gwangmyeong in Gyeonggi, Geochang County in Gyeongnam, and Yuseong District in Daejeon received the Minister of the Interior and Safety awards for excellence in resident participation budgeting.
The government plans to share the best practices in each sector with local governments nationwide to encourage efficient local government finance management efforts.
Han Soon-ki, director general of the local government finance economic bureau at the Ministry of the Interior and Safety, said, “Efficient and sound local government finance management is more important than ever in the challenging local tax revenue environment,” and added, “We will actively support local governments through institutional improvements.”