ULSAN < invest Korea

According to Yonhap News,

(ULSAN = Yonhap News) The city of Ulsan announced on January 21 that it will execute 55 percent (1.468 trillion) of its 2014 budget in the first half of the year.

The city aims, by executing the budget, to vitalize the local economy and stabilize the livelihood of the public.

It will mainly focus on job creation project, SOC projects and others to strengthen effectiveness of the budget execution.

In order to supervise the budget spending, the city will establish a financial council for balanced budget spending in an effort to inspect the project promotion status.

Meanwhile, Ulsan was designated the nation’s best government agency by the Ministry of Security and Public Administration, and it will receive the special local grant tax of KRW 765 million (KRW 170 million for the city of Ulsan; KRW 70 million for Buk-gu).

leeyoo@yna.co.kr

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Source Text

Source: Yonhap News (Jan. 21, 2014)

** This article was translated from the Korean.