94 Billion Won to Be Invested Next Year for Environmental Maintenance of Development-Restricted Areas in Busan Region

Secured 8.2 Billion KRW in National Funding for Improving Poor Housing Conditions and Expanding Welfare Facilities
27 Billion KRW More Than Last Year in Ministry of Land, Infrastructure and Transport Project, Highest Ever Amount
Geumjeong Sanghyeon

Comprehensive Table of Resident Support Projects in Busan for Next Year.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City has secured a record-high national subsidy of 8.2 billion KRW from the Ministry of Land, Infrastructure and Transport's 2021 ‘Development Restriction Zone Resident Support Project’.

This project, under the Special Measures Act on the Designation and Management of Development Restriction Zones, supports improving the living environment of local residents by renovating poor housing conditions and creating welfare enhancement facilities within development restriction zones.

The 8.2 billion KRW national subsidy for Busan City's 2021 ‘Development Restriction Zone Resident Support Project’ is an increase of 2.7 billion KRW compared to this year's 5.5 billion KRW, which is a valuable achievement despite the Ministry of Land, Infrastructure and Transport's total budget for 2021 being cut by 5.1 billion KRW compared to this year.

Additionally, the 8.2 billion KRW includes a 400 million KRW incentive for being selected as an excellent institution in the resident support project, marking the highest national subsidy amount Busan City has received for development restriction zones since 2001.

This achievement is evaluated as a result of strategically discovering differentiated projects that reflect regional characteristics to the fullest, such as the landscape improvement of Mandeok Hill Road in Buk-gu, creation of Nuri-gil at Hoedong Reservoir in Geumjeong-gu, and development of leisure green space at Wausan in Haeundae.

Busan City's major development restriction zone resident support projects for next year include a 1.5 billion KRW national subsidy for the construction of a pedestrian bridge connecting Sanghyeon Village in Geumjeong to Ahopsan, 1 billion KRW for landscape improvement of Mandeok Hill Road in Mandeok-dong, 1 billion KRW for leisure green space development at Wausan in Haeundae, and 900 million KRW for ecological experience Nuri-gil creation at Hoedong Reservoir, totaling 8.2 billion KRW in national subsidies. Including 1.2 billion KRW in local government matching funds, the total budget for next year's development restriction zone resident support projects is approximately 9.4 billion KRW.

Byun Sung-wan, Acting Mayor of Busan, said, “This achievement is the result of actively discovering support projects for residents in development restriction zones and persuading their necessity.”

Acting Mayor Byun added, “Expanding poor housing conditions, insufficient urban infrastructure, and lack of welfare facilities within development restriction zones will greatly help improve residents' quality of life and welfare.”

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