Busan City-Ministry of Strategy and Finance Meeting Held, Major National Budget Projects Proposed

Visit by Budget Office Director of Ministry of Economy and Finance to Assess Regional and Municipal Issues

Suggestions on Government Budget Plan Direction and Major National Fund Projects

Busan City and the Ministry of Economy and Finance held a meeting on the 23rd to discuss the direction of the 2024 government budget formulation and Busan City's major national subsidy projects.

Meeting between Busan City and the Ministry of Economy and Finance. (Fourth from the left: Lee Seong-gwon, Deputy Mayor for Economic Affairs; Fifth: Kim Wan-seop, Director of Planning and Budget Office)

This meeting was arranged by the Ministry of Economy and Finance to communicate with local governments and to check regional issues on-site. Kim Wan-seop, Director of the Budget Office, along with the Administrative and Defense Budget Review Officer, Budget General Manager, and Budget Management Manager from the Ministry visited Busan.

In the morning, a 'City Administration Meeting' was held in the city hall video conference room.

The city regarded this meeting as a good opportunity to secure budgets for pending projects. Led by Lee Seong-gwon, Deputy Mayor for Economic Affairs, the Economic Special Advisor, Director of Planning and Coordination Office, Director of Urban Balanced Development Office, Finance Officer, and key heads of departments related to national subsidies attended.

They expressed gratitude for the government's active support for major Busan projects such as the budget allocation for supporting the 2030 Busan World Expo bid and the exemption from preliminary feasibility study for Gadeokdo New Airport, and also requested continuous support including national budget allocation for next year's major Busan pending projects.

In particular, they emphasized key projects aimed at building a foundation for the future transformation era and improving citizens' quality of life, including ▲early construction of Gadeokdo New Airport ▲construction of the Busan?Yangsan?Ulsan metropolitan railway ▲installation of water intake facilities to prevent green algae inflow in the Nakdong River ▲modernization of Busan Joint Fish Market ▲development of eco-friendly material-based vegan leather and establishment of a demonstration cluster.

In the afternoon, together with the Ministry of Economy and Finance, they visited the Renault Korea Motors factory and held an on-site meeting. At this meeting, they explained the 'Export-led Future Car Industry Innovation Growth Technology Support Infrastructure Project' linked with local finished car manufacturers and partner companies, and requested active government support for ecosystem creation.

The 'Future Car Strategic Industry Innovation Growth Ecosystem Creation' is a major pending issue that Mayor Park Hyung-joon is particularly attentive to for the future car transition of the automobile industry, a key industry supporting the regional economy, as he personally visited Renault Korea Motors on the 21st to discuss it.

The city plans to strengthen cooperation with local research institutes, finished car manufacturers, and parts companies to promote a region-led future car transition by providing full-cycle support.

Lee Seong-gwon, Deputy Mayor for Economic Affairs, stated, “Since the government is maintaining a sound fiscal policy, when discovering projects, we will consider the government's budget formulation direction but prioritize projects that can realize Busan City's green smart city vision. We will communicate frequently with the Ministry of Economy and Finance and do our best to secure national subsidies to successfully promote the city's major pending projects.”

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