Gwangju City Holds Local Finance Association Meeting with Ministry of Economy and Finance... 'Full Effort' to Secure Next Year's National Budget

Request for Support of 16 Current Projects Worth 535.6 Billion KRW

On the afternoon of the 12th, Lee Yong-seop, Mayor of Gwangju Metropolitan City, held a meeting with Choi Sang-dae, Director of the Budget Office at the Ministry of Economy and Finance, in the city hall reception room to request support for local projects, including the inclusion of the Gwangju-Daegu Dalbit Inland Railway in the 4th National Railroad Network Construction Plan. Photo by Gwangju Metropolitan City

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City held the 2021 Local Finance Council with the Ministry of Economy and Finance on the 12th to open the era of 3 trillion won in national funding next year.

The Local Finance Council is a meeting where the financial authorities and local governments exchange opinions on budget planning and operation plans as well as local pending projects before the full-scale budget formulation.

In particular, this year, to directly hear the voices of the region and to formulate a budget that resonates with the public through in-depth discussions on national balanced development and local issues, the Budget Office Chief of the Ministry of Economy and Finance visited Gwangju for the first time in eight years since 2013, explained the national financial conditions and budget formulation directions, and listened to Gwangju’s pending projects.

At this meeting, Gwangju requested support for 16 local pending projects totaling 535.6 billion won, including 66.6 billion won for the creation of an AI-centered industrial convergence complex, 265 billion won for the construction of Gwangju Urban Railway Line 2, 52.8 billion won for expanding funding for the Asia Culture Center City project, and 10 billion won for the expansion of the Songjeong Station complex transfer center’s elevated station building.

Jo In-cheol, Deputy Mayor for Culture and Economy, said, “The local financial situation is more difficult than ever,” and requested an expansion of national financial support for future growth projects.

Before the council, Mayor Lee Yong-seop met with Choi Sang-dae, Budget Office Chief of the Ministry of Economy and Finance, and said, “The Local Finance Council is a place for sufficient communication and empathy on local issues. In particular, I hope you will pay attention to and thoroughly review the Yeongnam and Honam regional cooperation projects, such as the inclusion of the Gwangju-Daegu Dalbit Inland Railway in the 4th National Railway Network Plan.”

Budget Office Chief Choi Sang-dae replied, “The purpose of this visit is to find a point of contact that bridges the gap between national and local government issues through active communication with local governments,” and added, “We will carefully review the proposed local pending projects and actively support them if necessary.”

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