Busan City Strengthens Proactive and Strategic Measures to Secure National Funding for 2024

Economic Vice Mayor Lee Seong-gwon Chairs Inspection Report Meeting

City's Major Projects Focus on Inclusion in Department Budget Proposals

On the 12th at 4 p.m., Busan City held the '2024 National Budget Securing Progress Report Meeting' in the video conference room on the 7th floor of City Hall, chaired by Lee Seong-gwon, Deputy Mayor for Economic Affairs, to secure the largest national budget for the next year.

At the meeting, following the project discovery report meeting in January and the national budget securing report meeting chaired by Mayor Park Hyung-jun in March, strategies for securing budgets for major national projects by each department, bureau, and headquarters in accordance with the 2024 government budget formulation guidelines, including newly discovered national projects, were discussed as the main agenda.

Busan City held the "2024 National Budget Securing Progress Report Meeting" chaired by Deputy Mayor for Economic Affairs Lee Seong-gwon to secure the largest national budget for the next year.

The four key investment focuses of the government budget formulation guidelines are ▲Enhancing economic vitality ▲Protecting vulnerable groups ▲Innovating economic structure ▲Strengthening public safety.

Major newly discovered projects include ▲Establishment of SMR materials and parts foundry ▲Construction of a technology support base for export-led future car industry innovation growth ▲Re-advancement project for elastic materials responding to core strategic industries ▲Creation and activation of a green data center cluster.

Major ongoing projects discussed in detail include ▲Early construction of Gadukdo New Airport ▲Local government-university cooperation-based regional innovation projects ▲Pilot project for revitalizing Yeongdo industrial area ▲Construction of the Hadang-Noksan urban railway line.

The city has been discovering major projects in various fields such as ▲New industry promotion ▲Industry-government-academia cooperation ▲Startup finance ▲Low-carbon green ▲Cultural attraction through project discovery and government public offering projects, and has been seeking countermeasures to accelerate ongoing projects to maximize national budget acquisition.

In particular, the city plans to thoroughly secure national budget by proactively proposing Busan-specific projects that align with government policy directions such as national agendas and responses to low birthrate and regional extinction.

This year, due to the government's strengthened sound fiscal policy, it has become more important than ever to reflect the city's major projects in the budget proposals submitted by each central government ministry to the Ministry of Economy and Finance by the end of May.

Accordingly, since February, the city has been holding weekly national budget strategy consulting meetings to early check the progress of securing the national budget. They are meticulously reviewing all aspects of national budget projects, including budget procedures, and supplementing project descriptions to ensure that each ministry fully recognizes the necessity of the projects.

The city has frequently held city administration briefing sessions by inviting policy advisors to ministers of each ministry, and plans to hold the ruling-opposition-government budget policy council earlier than usual this year.

Deputy Mayor for Economic Affairs Lee Seong-gwon said, “We will strengthen proactive and strategic responses and carefully manage to ensure that Busan’s major vision projects to leap forward as a global hub city are prioritized and reflected in the central government ministries’ budgets.”

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