The government is actively incorporating the results of financial project evaluations into its budget and policies to enhance the efficiency of fiscal management. Following a public voting process, five projects that resonate with citizens have been selected, while in-depth evaluations of carbon-free initiatives, forest welfare, and vocational training programs have led to proposed improvements in support systems and evaluation methods.
Cho Yong-beom, Vice Minister of the Ministry of Economy and Finance, reported on the follow-up actions from the 2026 integrated financial project evaluation and the results of the 2025 in-depth financial project evaluation during the second meeting of the Financial Performance Committee on August 10.
During the meeting, awards were presented for the outstanding projects identified through the integrated evaluation. A total of 17 projects were selected as exemplary by the Financial Project Performance Evaluation Committee, and the top five projects were recognized as 'Citizen-Recognized Outstanding Projects' following a vote by the Budget Citizen Participation Group.
The awarded projects include the Ministry of Science and ICT's 'Creation of a Data-Utilization Medical and Health Ecosystem,' as well as:
- Proactive Health Management for Infants and Young Children (Ministry of Health and Welfare)
- Operation of the Food Pre-Management System (Ministry of Food and Drug Safety)
- Establishment and Operation of a Comprehensive Information Support System for Infectious Disease Prevention and Management (Korea Disease Control and Prevention Agency)
- Support for On-the-Job Learning in Industrial Settings (Ministry of Employment and Labor)
Evaluation results indicate that all projects, except those proceeding normally, will have their feedback plans published through 'Open Finance' this month. Notably, projects that failed to meet expenditure restructuring targets among those subject to budget cuts or termination will be required to provide explanations for non-compliance.
Additionally, the committee reviewed the final evaluation results for three project categories that underwent in-depth evaluations last year:
- Support for Carbon-Free Expansion
- Support for Forest Welfare Services
- Training Cost Support for Private Vocational Training Institutions
The evaluation of the carbon-free expansion support category concluded that the support system, which has focused on quantitative distribution, needs to be restructured to enhance actual reduction outcomes and fiscal efficiency.
Furthermore, considering future demand changes due to aging and population decline, the analysis suggested that the structure of the forest welfare service support program should be reformed. It proposed that budgets for improving aging facilities be allocated based on operational performance and recommended new establishment plans for national recreational facilities that reflect long-term projections.
Lastly, the evaluation of the training cost support program for private vocational training institutions proposed regularizing in-depth evaluations every three years and differentiating support for vulnerable groups and local institutions based on employment rates.
Vice Minister Cho stated, "Starting this year, we are focusing our efforts on ensuring that the results of financial project evaluations are effectively reflected in budgets and policies. We aim to operate limited resources efficiently, making performance management a foundation for transforming the fiscal landscape of South Korea."
* This article has been translated by AI.
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