Securing the Largest Government Budget Ever in the Chungcheong Region... Expecting Momentum for Pending Projects

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Local governments in the Chungcheong region are expected to gain momentum in advancing regional projects as they secure the largest-ever government budget for next year.

According to the four cities and provinces of Daejeon, Sejong, Chungnam, and Chungbuk on the 7th, the Chungcheong region secured a government budget for next year that is increased by an average of 9% compared to this year. Among the cities and provinces, Sejong recorded the highest increase rate at 14.4%, followed by Chungbuk at 12.4%, Daejeon at 7.9%, and Chungnam at 7.3%. Notably, many of the increased budget items include local governments’ pending projects, adding significance to the budget.

First, Daejeon secured 3.8644 trillion KRW in government budget for next year. This is an increase of 283.6 billion KRW from this year’s 3.5808 trillion KRW, marking an all-time high. The next year’s budget includes a series of locally driven projects such as the construction of Urban Railway Line 2 tram (13.1 billion KRW), the first phase of Chungcheong Regional Railway construction (10 billion KRW), the establishment of Daejeon’s second landfill site (10.8 billion KRW), and hosting the Global Network of Local Governments Summit (2 billion KRW).

Additionally, national funding was secured for projects under the Daejeon Daedeok Research and Development Special Zone reinvention initiative, including the establishment of a shared research center for solar energy companies, the creation of Majungmul Plaza, development of overseas hydrogen-based public transportation infrastructure technology, establishment of a gene-based rapid antibody manufacturing support center, and technology development at the Market-Leading K-Center.

Above all, the city regards the inclusion of budgets for 20 local pending projects (26.8 billion KRW), which were not originally included in the government’s budget proposal, as a major achievement in securing next year’s budget.

Sejong secured 1.1965 trillion KRW in government budget for next year, an increase of 151 billion KRW from this year’s 1.0455 trillion KRW. Major projects included in the budget items are the Sejong-Anseong Expressway (5.9 billion KRW), the road connecting Bugang Station to Bukdaejeon IC (2 billion KRW), a build-transfer-lease (BTL) project for the construction of campuses for Chungnam National University, Kongju National University, and Sejong Campus (60.7 billion KRW), and the creation of the Sejong Industrial Technology Complex (6.4 billion KRW).

Moreover, the city secured national funding for the construction of a municipal children’s library, operation of the National Museum Complex, flood prevention in Jochiwon-eup, and the design competition for the new Sejong Police Agency building, which will accelerate project implementation next year.

Chungnam secured 8.3739 trillion KRW in government budget for next year, an increase of 567.4 billion KRW from this year’s 7.8065 trillion KRW. This is the largest budget ever for Chungnam and marks the first time the annual government budget has exceeded 8 trillion KRW, which is significant.

Next year’s budget items mostly reflect key regional issues such as the creation of Garorim Bay Marine Garden, the global landmark development of Haemi International Holy Site, and the establishment of a branch of the National Police Hospital.

Among these, securing the budget for the Garorim Bay Marine Garden project (36 billion KRW in national funds for main project design costs) is expected to positively influence the ongoing preliminary feasibility study for the main project. The province interprets the support from both ruling and opposition parties and the government as recognition of the policy necessity of this project (reflected in the budget), which will favorably affect securing related budgets during the project’s future implementation.

Chungbuk also secured the largest-ever government budget for next year. The total budget secured by Chungbuk Province is 7.6703 trillion KRW, an increase of 850.1 billion KRW from last year’s 6.8202 trillion KRW. The province expects next year’s government budget to play a vital role in addressing major regional issues such as the construction of the Chungcheong Inland Expressway, the Jungbu Inland Line (Icheon?Chungju?Mungyeong) railway construction, and the establishment of a semiconductor workforce training convergence center.

Yang Seung-jo, Governor of Chungnam Province, said, “Chungnam will open the era of 8 trillion KRW in national funds for the first time next year. In particular, the inclusion of budget for the creation of Garorim Bay Marine Garden and the master plan for the global landmark development of Haemi International Holy Site will enhance the value of Chungnam’s natural and cultural heritage and lay the foundation for its development as a world-class tourist destination.”

He added, “The province will focus its administrative power on swiftly advancing projects for which government budgets have been secured.”

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