26 Major Public Institutions Invest 39.9 Trillion Won in H1—Annual Execution to Reach 69 Trillion Won

24th Public Institution Investment Execution Review Meeting

(Sejong=Yonhap Infomax) Jun Hyung Park – The Ministry of Economy and Finance announced that 26 major public institutions executed early investments totaling 39.9 trillion won ($30.2 billion) in the first half of this year, representing approximately 60% of their annual investment target of 66 trillion won ($50.0 billion).

The ministry projects that total investment execution by year-end will reach 69 trillion won ($52.2 billion), an increase of 3 trillion won ($2.3 billion) from the original plan.

Kang Young-kyu, Director General for Fiscal Management at the Ministry of Economy and Finance, shared these figures at the 24th Public Institution Investment Execution Review Meeting held on the 20th.

Representatives from 26 public institutions, including Korea Land & Housing Corp. (LH), Korea Electric Power Corp. (KEPCO), Korea Asset Management Corp. (KAMCO), and Korea Gas Corp., attended the meeting.

Kang stated, “These investment execution efforts have contributed to the recovery of our economy, resulting in a 1.2% growth in real GDP in the third quarter. I urge continued active investment execution for the remainder of the year.”

Additionally, as a follow-up to the “Measures to Strengthen Safety Management at Public Institutions” announced by the Public Institution Management Committee in September, the meeting also reviewed the status of safety budget execution at public institutions.

Kang emphasized, “Safety budget execution should be recognized as an investment, not a cost. We expect over 90% execution by year-end and request further efforts to increase this.”

He added, “Given the recent series of major accidents at public institutions, such as the Ulsan thermal power plant incident, please ensure thorough safety management.”

jhpark6@yna.co.kr

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