Gyeongsan City Secures 381.8 Billion Won in National Funding for Next Year, Including 37.6 Billion Won for Hayang Urban Railway Extension

General National Budget Project 268.8 Billion Won with Gyeongsan City's Proposed Project Reflected Amount of 113 Billion Won

The exterior of Gyeongsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Gyeongsan City, Gyeongbuk Province announced on the 7th that it secured a national budget of 381.8 billion KRW for 2021. This amount combines the 268.8 billion KRW allocated for general national projects in the budget and the 113 billion KRW reflected in Gyeongsan City's proposed national investment budget projects.

Looking at the major national investment budget projects, the city secured 1.4 billion KRW for the Carbon Formed Parts Design Analysis and Commercialization Infrastructure Project, 3 billion KRW for the Living Consumer Goods Convergence Industry Infrastructure Project, and 2.9 billion KRW for the Wireless Charging Demonstration Infrastructure Project, all of which are future new growth engines for the region.

Notably, an additional 1 billion KRW was secured for the Knowledge Industry Center construction project, which has a total project cost of 40 billion KRW. Once completed, the Knowledge Industry Center is expected to enhance the image of Gyeongsan as a youth startup hub and significantly contribute to fostering future new industries and creating new jobs, according to the city's expectations.

In transportation and logistics SOC projects, the city secured 37.6 billion KRW for the extension of Daegu Metro Line 1 to Hayang, 12 billion KRW for the Daegu Metropolitan Area Railroad construction project, and an additional 9.6 billion KRW for the Namsan-Hayang National Road Alternative Bypass construction project during the National Assembly budget review process.

Additionally, substantial budgets were secured for local issues such as 7 billion KRW for the Gyeongsan Knowledge Industry District access road construction, 2 billion KRW for arterial road construction, 5.5 billion KRW for advanced water treatment facility installation, and 3.4 billion KRW for aged water supply system maintenance projects.

Choi Young-jo, Mayor of Gyeongsan City, stated, "At this critical time preparing for the post-COVID-19 era, thanks to the active cooperation of National Assembly member Yoon Doo-hyun, we have gained the driving force to enable the local economy to take a new leap forward." He added, "Since this budget was hard-earned, we will inject vitality into the local economy through prompt project implementation."

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