South Korean lawmakers demand economic relief for Daegu-Gyeongbuk

During a recent National Assembly audit of the Bank of Korea's Daegu-Gyeongbuk branch and the Daegu Regional Tax Office, lawmakers called for urgent measures to revitalize the local economy. The Daegu-Gyeongbuk region is facing a prolonged recession, with its GRDP at only 63% of the national average and corporate loan delinquency rates exceeding the national mean.

Lawmakers urged financial institutions to expand support for small businesses and SMEs to alleviate liquidity shortages. Additionally, discussions addressed the crisis in the Pohang steel industry and the need for enhanced competitiveness in regional manufacturing. In the tax sector, officials were questioned regarding the discrepancy between rising tax revenues and the local economic downturn, as well as high rates of tax appeals being overturned.

Separately, the audit highlighted a growing trend of lawmakers utilizing Artificial Intelligence (AI) to analyze vast datasets. This technological shift has enabled more precise questioning by identifying loopholes in public procurement and correcting government statistical errors through data-driven analysis.