Pohang City Goes 'All In' to Secure Next Year's National Budget... Securing Future New Growth Industry Engines

Next Year's National Budget Securing Report Meeting, Preparing for the Next 100 Years

Focusing on Discovering and Reviewing Projects Subject to Preliminary Feasibility Studies

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] On the 16th, Pohang City held the ‘2024 National Budget Securing Report Meeting’ at the city hall’s main conference room, kicking off efforts to secure new growth industry engines in preparation for the next 100 years.

Presided over by Vice Mayor Kim Nam-il, the report meeting focused on closely analyzing the government’s major budget investment priorities and mid-to-long-term growth strategies to respond accordingly, and enhancing the persuasiveness of pre-procedures and project promotion in line with the government’s budget formulation schedule.

Pohang City is going all-in to secure national funding for next year, taking a step faster to secure future new growth industry engines.

Prior to the meeting, 161 projects worth 1.022 trillion KRW were identified, including 44 new projects worth 127.8 billion KRW and 117 ongoing projects worth 894.2 billion KRW.

By sector, the status is as follows: ▲SOC sector 387.8 billion KRW ▲Research and Development (R&D) sector 224 billion KRW ▲Welfare and Environment sector 185.8 billion KRW ▲Culture and Tourism sector 21.7 billion KRW ▲Agriculture, Forestry, and Fisheries sector 133.7 billion KRW ▲Other sectors 69 billion KRW.

The report mainly focused on new projects, proposing projects to discover new growth engines such as ▲Secondary Battery Specialized Complex ▲Establishment of Integrated Large Equipment Utilization New Drug Design Platform ▲Green Biologics-based Animal Medicine R&BD Project ▲Construction of the National Pohang Specialized Science Museum ▲Construction of Food Tech Convergence Research Support Center.

National budget projects related to Typhoon ‘Hinnamnor’ are also being thoroughly reviewed. Pohang City plans to ensure that projects such as those related to the designation of the region for proactive industrial crisis response, construction of Hangsa Dam, and maintenance of Hyeongsan River as a national river proceed as planned.

Additionally, as part of disaster prevention infrastructure projects for building a safe city Pohang, new projects proposed include ▲Mopo District Coastal Maintenance Project ▲Maintenance Projects for Four Key Sewage Management Areas ▲Forest Disaster Prevention Projects.

To secure mid-to-long-term national budgets beyond 2024, the progress of projects subject to preliminary feasibility studies (hereafter referred to as ‘pre-feasibility studies’) was also checked.

Focus will be placed on responding to the pre-feasibility study evaluations for the ‘Hydrogen Fuel Cell Power Generation Cluster Construction’ project currently underway and the ‘Homi Peninsula National Marine Ecological Garden Creation Project’ selected as a pre-feasibility study target last December.

Thorough preparations will be made to ensure that the Hyeongsan River National River Maintenance Project, Local Waterworks Raw Water Pipeline Duplication Project, and National Hyeongsan River Battle Memorial Hall Project are selected as pre-feasibility study target projects.

Pohang City plans to supplement the inspection items raised at this report meeting and additionally discover new projects related to central government department public contests, holding a second national budget securing report meeting in April.

Vice Mayor Kim Nam-il said, “The faster and harder we work, the more national budget we will secure,” and urged, “Please do your best to enhance the persuasiveness of projects by frequently visiting relevant ministries and Gyeongbuk Province, and establishing cooperative systems with research institutes, experts, and members of the National Assembly.”

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