During the 7th Local Government Term, Heo Seong-gon Administration Secures 817.8 Billion Won in National Funding for Next Year... Opening the Era of 1 Trillion Won

Heo Seong-gon, Mayor of Gimhae

[Asia Economy Yeongnam Reporting Headquarters, Reporter Ju Cheol-in] Gimhae City, Gyeongnam Province, has set its target for securing national funds next year at 817.8 billion KRW.

On the 18th, Gimhae City held the 2023 National Fund Securing Strategy Meeting and set a goal to secure 817.8 billion KRW in national funds, which is 60.6 billion KRW more than the 757.2 billion KRW secured this year. With this, Gimhae plans to open the era of 1 trillion KRW in combined national and provincial funds, including provincial subsidies.

Gimhae City intends to focus on securing national funds in areas such as strengthening competitiveness in future industries like future automobile parts and medical devices, projects linked to the government’s Green New Deal policies including the spread of electric and hydrogen vehicles, and public infrastructure construction such as the metropolitan road connecting Chojung and Hwamyung between Gimhae and Busan.

Additionally, to revitalize the local economy, which has been stagnant due to the prolonged COVID-19 pandemic, the city plans to promote rapid execution aiming to spend a total of 959.2 billion KRW in the first half of this year, including consumption and investment sectors. This is intended to inject vitality into the local economy directly affected by quarantine policies such as social distancing, while proactively responding to domestic and international uncertainties and downward economic factors in line with the government’s policy stance from the beginning of the year.

Mayor Heo Seong-gon said, “Since this year includes the presidential election, we will actively identify new and ongoing projects related to the new government’s policy directions,” and added, “To overcome the crisis of Omicron and lay the foundation for growth, we will concentrate all city administration capabilities on securing national funds.”

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