"Zero tolerance, exemplary punishment": Gangwon State to conduct a full audit of its investment- and contribution-funded agencies

【Financial News, Chuncheon = Reporter Kim Gi-seop】Gangwon State will launch a high-intensity inspection of its investment- and contribution-funded agencies.
According to Gangwon State on the 28th, the province will conduct a full audit of how its affiliated investment- and contribution-funded agencies spend their business promotion funds in September. The move follows media reports that some agencies had used the funds without authorization at entertainment bars and other venues where use is strictly prohibited, including businesses operating during late-night hours. The province said it is taking the matter seriously and will carry out a thorough investigation into improper spending.
Because these agencies are established for public purposes and operate on public funds, strict budget discipline and transparency are required. However, the province believes that despite ongoing guidance and warnings from the relevant departments, some agencies continue to manage their budgets recklessly.
Starting with the September audit, the province plans to restore discipline across public institutions. If improper spending is uncovered, those involved will face disciplinary action, and agency heads will also be held responsible for failures in management and oversight. If serious violations are found, the province will request an audit by the Audit Committee and seek reimbursement. If the case is severe, it will also ask for a police investigation.
Woo Sang-ho, Governor of Gangwon State, said, "Regardless of rank, we will apply the principle of zero tolerance and make an example of any institution found guilty of misconduct." He added, "We will restore discipline in public institutions that have become lax and rebuild them into organizations trusted by residents."

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