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Gwangju City Proposes Including Regional Branch Distribution in Municipal Treasury Selection
Finance · Major Banks · yonhap_finance · 2026-09-01
Gwangju City is moving to amend its ordinances to include regional branch distribution in the evaluation criteria for selecting its municipal treasury bank.
What Happened
Ordinance Amendment Proposed: The Gwangju City Council has introduced an amendment to the municipal treasury ordinance that would incorporate the distribution of financial branches into the selection evaluation. The goal is to move beyond simple total branch counts and assess how well institutions serve specific districts and rural areas.
Enhancing Financial Access: The proposal aims to address the concentration of financial services in urban centers and improve accessibility for residents in rural and island areas. Rather than creating new weighted categories, the amendment focuses on adjusting existing evaluation criteria to prioritize regional coverage.
Impact on Selection: The city plans to announce the selection process for the 2027-2030 municipal treasury in September. If the amendment is processed and promulgated during the September regular session, the new criteria could be applied to the upcoming selection process.
Future Outlook: The municipal treasury selection committee is expected to incorporate these changes into their evaluation standards. Local financial institutions are likely to face increased pressure to expand their accessibility to residents, with the timing of the city's official announcement being a key factor.