Chungnam Aims to Secure 7.3 Trillion Won in Government Budget Next Year, 'Largest Ever'

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province has set a goal to secure 7.3 trillion won in government budget for next year. This is an increase of 213 billion won compared to the government budget secured this year (7.1481 trillion won), marking the largest scale ever.

The province announced on the 25th that it will activate a response system aiming to secure 7.3611 trillion won in government budget for next year. The core intention is to proactively secure national funds in preparation for the post-COVID-19 situation.

The government budget target is divided into 2.5655 trillion won for nationally implemented projects and 4.7956 trillion won for locally implemented projects.

The province has set major promotion tasks including ▲linking with the 21st general election pledge projects ▲discovering new government industry sectors and future growth projects ▲reflecting various national plans ▲concretizing projects linked to government pledges, national agendas, and the province’s mid- to long-term plans ▲discovering linked projects among new and public contest projects by ministries ▲early completion of existing projects.

A phased implementation plan to enhance execution power was also established. First, until this month, the province will promote the discovery of its own pending projects, develop rationale, and hold policy meetings with ministries. From next month until August, it will focus on budget formulation and activities to reflect actual provincial pending projects in the government proposal. Then, from the budget confirmation stage in September, the province aims to have unreflected and continuing project budgets increased through the National Assembly.

Specifically, major new projects set for next year include ▲attracting civil aviation to Seosan Air Force Base ▲creating Garorim Bay Marine Garden ▲developing multipurpose rural water supply in Pangyo District ▲establishing the East Asia Historical City Promotion Institute ▲high-speed upgrade of Honam Line from Gasuwon to Nonsan.

Also, major new projects included in government budget securing targets are ▲establishing Startup Park (C-Station) ▲building a healing center for families with disabilities ▲creating a metropolitan marine leisure tourism hub ▲establishing Chungnam Social Economy Innovation Town.

During the period to complete these 18 major new projects, the province plans to invest a total of 1.69102 trillion won, including 1.4473 trillion won in national funds. Among this, the government budget securing target for next year is set at 65.54 billion won.

Major continuing projects (target amounts) include ▲Seohae Line (Hongseong?Songsan) double-track electrification (700 billion won) ▲Dangjin?Cheonan Expressway (154 billion won) ▲Seokmun National Industrial Complex inbound railway (27 billion won) ▲Janghang Line (Sinchang?Daeya) double-track electrification (100 billion won) ▲display innovation process platform construction (58.3 billion won).

To secure the targeted scale of government budget, the province plans to conduct policy meetings by ministry, meetings with National Assembly members’ aides, monitor budget review trends by relevant ministries, visits by provincial leadership to ministries, provincial government briefings inviting National Assembly members, and budget policy consultations by political parties.

Yang Seung-jo, Governor of Chungnam Province, said, “Securing national funds is drawing the blueprint for Chungnam’s future and the first step toward a happier Chungnam. The most important task we must do amid the COVID-19 emergency situation is securing next year’s government budget.”

He added, “The province will meticulously develop response rationales for each project so that regional future projects such as Garorim Bay Marine Garden, attracting civil aviation to Seosan Air Force Base, and Seohae Line double-track electrification can all be included in the government proposal.”

This content was produced with the assistance of AI translation services.