Osan City to Accelerate 100.3 Billion Won in Budget Execution in First Half of 2012

Osan City announced on the 6th that it will actively promote early budget execution of local finances for 2012 to create jobs, revitalize the economy for lower-income groups, and ensure efficient implementation of budgets for both the first and second halves of the year.

Accordingly, out of 167.1 billion won in early execution budgets for the first half, 100.3 billion won—60 percent of the total—is scheduled to be executed within the first half. An emergency response center for promoting early local finance execution has been established, headed by Osan City Vice Mayor Kim Pil-gyeong.

The city will focus on job creation and SOC (Social Overhead Capital) projects, prioritizing expenses with significant implementation effects such as facility costs, service expenses, and asset acquisition costs. To make the effects of economic stimulus visible in the first quarter, each department has been instructed to establish project plans in advance that can accelerate the bidding schedule.

Additionally, for three major priority projects and goods purchases exceeding 2 million won, manufacturing, services and construction projects exceeding 10 million won, the city will manage project implementation status through major project management cards. Daily implementation results by department will be announced through the Saero-l administrative system, and the city plans to make its best efforts to achieve budget execution targets.