Gyeonggi Province Holds First Financial Strategy Conference

The first meeting of Gyeonggi Province's Financial Strategy Conference was held at the Provincial Government Situation Room on the 19th.

The Financial Strategy Conference, a subsidiary body of Gyeonggi Province's Participatory Government Implementation Committee, held a meeting with all 16 committee members present, including representatives from the Provincial Assembly, the executive branch, and private-sector experts, and discussed the direction of conference operations to strengthen the soundness and efficiency of fiscal management.

The Financial Strategy Conference will operate as a consultative body to discuss the basic direction of fiscal management such as revenue and expenditure, and to review the participatory budget ledger.

Lee Ki-woo, Vice Governor for Social Integration, said, "Broad discussions should take place on the basic direction of budget compilation and the principles of resource allocation."

Lee Jae-eun, Professor Emeritus at Kyonggi University, said, "We must jointly discuss the issue of efficiently allocating limited financial resources and institutional improvements such as National Assembly legislation to strengthen local finances."

Lee In-jae, Professor at Hanshin University, said, "For the Financial Strategy Conference to work properly, the executive branch must provide sufficient materials so that committee members can review them in advance."

Provincial Assembly members from the New Politics Alliance for Democracy—Oh Wan-seok, Won Mi-jeong, and Lee Jae-jun—and from the Saenuri Party—Yun Tae-gil, Kwak Mi-sook, and Bang Seong-hwan—said, "A broad-based discussion is needed to enhance the soundness and efficiency of provincial finances," while also emphasizing that "the Assembly's inherent authority in budget deliberations must not be infringed upon."

The second Financial Strategy Conference for concrete discussions on the participatory budget system and scope, and monthly budget compilation schedules, will be held on the 28th of next month.