▲ Governor-elect Choo Mi-ae speaking at the comprehensive report on the transition committee's activities
Gyeonggi Province Governor-elect Choo Mi-ae announced on June 30 that she will form and operate a Gyeonggi Province Fiscal Innovation Task Force immediately upon taking office tomorrow, July 1.
The Fiscal Innovation Task Force will consist of 10 members, co-chaired by National Assembly member Lee So-young of the Democratic Party of Korea and Professor Jo Im-gon of the Department of Public Administration at Kyonggi University, with Cho Seong-hwan, Chairman of the Planning and Finance Committee of the Gyeonggi Provincial Council, serving as the general coordinator.
The seven other members include Ryu Yang-hoon, an adjunct professor at Korea University's Graduate School of Policy Studies; Park Ji-woong, a lawyer at Yulchon LLC; Son Hee-jun, a private member of the pan-government Fiscal Decentralization Task Force; Shin Yu-ho, a professor at Dankook University; Lee Yong-hwan, head of the Cooperative Local Finance and Tax Research Institute; Lee Hyun-woo, a senior research fellow at the Gyeonggi Research Institute; and Oh Cheol-jae, former policy coordination director at the Democratic Party floor leader's office.
Governor-elect Choo decided to operate the Fiscal Innovation Task Force to achieve structural reform by simultaneously expanding revenue and restructuring expenditures, as fiscal expenditure factors are surging due to increased welfare demand and infrastructure investment, while the revenue base continues to deteriorate due to a decline in provincial tax revenue, primarily from acquisition taxes.
The Fiscal Innovation Task Force is scheduled to operate for two months, from next month through August, considering the review schedule for the supplementary budget in September of this year.
Previously, Governor-elect Choo described the fiscal situation of Gyeonggi Province as being in a state of collapse during the first meeting on provincial issues held by the transition committee for the Gyeonggi Province Governor, and she continued to point out the province's poor financial situation every day until June 29, the final day of the transition committee's activities.
(Photo: Provided by the transition committee, Yonhap News)
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