Mayor Lee Gang-deok, "Establishing a Full-Scale Bridgehead for Pohang's Future New Industries and Yeongilman Bridge"

Securing National Budget for Next Year... Securing Stepping Stones for Future New Industries and Regional Long-Standing Projects

Start of Yeongilman Bridge, Ensuring Construction of the Nation's Main Artery 'Economic and Logistics Bridge'

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Mayor Lee Kang-deok is explaining the significance of Pohang City's securing of national funds for the next year at the briefing room on the 26th.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Dong-guk] Mayor Lee Kang-deok of Pohang emphasized on the 26th, “Through securing national funding for next year, we have secured a foothold for new industries that will open Pohang’s future, and achieved meaningful results as the Yeongilman Bridge, a long-standing regional project, is set to begin in earnest.”

Mayor Lee visited the city hall briefing room that day and said, “Despite difficult domestic and international conditions such as the government’s fiscal policy shifting to sound finance and a significant decrease in large SOC compared to the previous year, Pohang City succeeded in securing 1.2923 trillion won in national funding for next year. This is a stepping stone for new industries and long-standing regional projects that will brighten Pohang’s future, with a total project cost scale reaching 13.9325 trillion won,” he said.

The mayor explained, “We secured 55 new projects, a significant increase from 36 projects the previous year, reflecting diversification in the discovery of national projects. To invigorate the local economy and create conditions for companies to invest in the region, we were recognized for our regional capabilities in future growth industries such as secondary batteries, bio, and hydrogen, successfully discovering key detailed projects like the ‘Gyeongbuk Digital Innovation Hub.’ At the same time, we achieved meaningful results by securing various national budget funds essential to Pohang, such as the construction of Yeongilman Bridge and designation as an industrial crisis preemptive response area.”

The mayor emphasized, “Especially regarding the construction of Yeongilman Bridge, national funding was reflected for the first time in the government proposal, and through additional appropriations by the National Assembly, we secured a budget of 5 billion won for next year. We will start design next year and make every effort to ensure that Yeongilman Bridge, expected to bring innovative changes to the regional economy, logistics, and tourism by connecting the nation’s main artery in 2025, can begin full-scale construction.”

He added, “Regarding the designation of the industrial crisis preemptive response area, after the government budget proposal was submitted to the National Assembly, Typhoon Hinnamnor occurred, and the designation was approved on October 31. Despite the difficult situation in securing the budget, we frequently visited relevant ministries to explain and persuade them, ultimately securing six new industrial crisis-related projects worth 123.1 billion won (total project cost 181.7 billion won).”

Along with these six new projects, six projects (465.5 billion won) included in the existing government proposal are planned to proceed as public contest projects, and it is expected that Pohang will be given preferential treatment by awarding additional points due to the designation as an industrial crisis preemptive response area.

Additionally, through securing budgets for the construction of Hangsa Dam and the new and expanded rainwater pumping station projects, all efforts will be made to build a safe city Pohang and ensure the smooth progress of large SOC projects in the region.

Mayor Lee Kang-deok said, “I would like to repeatedly express my gratitude to National Assembly members Kim Jeong-jae and Kim Byung-wook, as well as all members of the Gyeongbuk Province city and provincial councils, who worked together to secure national funding for new industries that will open Pohang’s new future and solve essential regional long-standing projects. Although the concentration in the metropolitan area and the acceleration of local extinction present difficult circumstances, we will continue to do our best to secure national funding to present new possibilities and hope for balanced regional development and to ensure a safe and pleasant life for citizens.”

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