Daejeon City Secures 3.8 Trillion Won in National Funding for Next Year... 7.9% Increase from This Year, 'Record High'

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City has secured 3.8644 trillion won in national government budget for next year. This is an increase of 283.6 billion won (7.9%) compared to this year's budget of 3.5808 trillion won, marking the largest amount ever.

According to the city on the 3rd, next year's budget includes projects such as the construction of the Urban Railway Line 2 tram (13.1 billion won), the first phase of the Chungcheong Regional Metropolitan Railway construction (10 billion won), the creation of Daejeon’s second landfill site (10.8 billion won), and hosting the Global Conference of Local Governments (2 billion won).

The national project budget also reflects funding for regional innovation projects based on cooperation between local governments and universities (47.7 billion won), and support for the Hannam University Campus Innovation Park pilot project (19 billion won).

Additionally, a large portion of the national budget was secured for the Daejeon Daedeok Research and Development Special Zone re-creation projects, including the establishment of a shared research center for solar power companies, creation of the Majungmul Plaza, development of overseas hydrogen-based public transportation infrastructure technology, establishment of a gene-based rapid antibody manufacturing support center, and market-leading K-Center technology development.

In particular, securing a budget of 26.8 billion won for 20 local pending projects that were not originally included in the government’s budget proposal is considered a major achievement in next year’s budget acquisition.

Representative projects include the establishment of a nationwide memorial facility for civilian victims before and after the Korean War, creation of the Baseball Dream Park, development of a convergence special video content cluster, and establishment of a national art collection preservation center.

Mayor Heo Tae-jeong said, "The secured national budget for next year will serve as a catalyst for Daejeon to rise as a metropolitan hub city in South Korea," adding, "We will strive to open a new path toward the future Daejeon beyond COVID-19 starting next year."

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