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Ulsan Receives KRW 1.3 Bn of Incentives

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City, which has received highest marks for the evaluation of financial affairs in 2014, conducted by the Ministry of Government Administration and Home Affairs (MOGAHA), will be granted KRW 1.3 billion of incentives for general and special subsidy taxes.


The city has executed more than 113.8 percent of public finance in the first half of 2014 and it will receive KRW 645 million of special subsidy tax as the best organization.

It has also recorded the highest in the second half of 2014, which will receive KRW 300 million of general subsidy tax.

The evaluation of financial affairs of local governments in 2014 graded “A”s for financial soundness, effectiveness and financial management. The city will be granted general subsidy tax of KRW 140 million.

MOGAHA grants incentives to excellent local governments after analyzing and evaluating their financial soundness and management every year.

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Source Text

Source: Yonhap News (January. 12, 2015)

** This article was translated from the Korean.