Yeosu City Secures Record-High 816.9 Billion KRW in National Funding for Next Year... Up by 47.8 Billion KRW

32 Billion KRW Secured to Support Hosting the 2026 Yeosu World Island Expo
Hwatae?Baegya National Route 77 and Yeosu?Namhae Undersea Tunnel Projects Also Included

Yeosu City, South Jeolla Province (Mayor Jeong Gimyeong), announced on December 4 that it had secured a record-high 816.9 billion KRW in national funding from the 2026 government budget, which passed the National Assembly on December 3. This represents an increase of 47.8 billion KRW compared to this year.

Previously, Mayor Jeong Gimyeong, along with relevant officials, made multiple visits to central government ministries, the Ministry of Economy and Finance, and the National Assembly. He continuously communicated with members of the Special Committee on Budget and Accounts, including Chairman Han Byungdo, as well as local National Assembly members, actively explaining the city’s key pending projects.

This is a photo of Jeong Gi-myeong, Mayor of Yeosu City, visiting the National Assembly on November 14th to request an increase in national funding for major local projects ahead of the National Assembly's review of the next year's government budget proposal. Provided by Yeosu City

As a result, during the National Assembly’s budget review process, the city succeeded in securing an additional 5 billion KRW for two projects. Considering that the government’s original budget proposal had been slightly reduced, this additional 5 billion KRW is regarded as a significant achievement resulting from proactive efforts.

However, the city expressed regret that additional funding for new projects, such as the “Yeosu Island Passenger Ship Half-Price Fare Support” and the “Jinnamgwan National Defense Culture Platform Project,” was not secured during the National Assembly’s budget deliberations.

Major SOC (Social Overhead Capital) projects reflected in the government budget include the Yeosu Hwatae-Baegya Road Construction Project (109.5 billion KRW), the Yeosu-Namhae Undersea Tunnel Construction Project (52 billion KRW), the Gyeongdo Marine Tourism Complex Access Road Construction (1 billion KRW), and the construction of the Geomundo Samho Bridge (12.7 billion KRW).

In the agriculture, forestry, and maritime sectors, the budget includes the Gwangyang Port Nakpo Pier Redevelopment Project (36.7 billion KRW), the Phase 3 Reclamation Site Port Redevelopment Project at Gwangyang Port (12.2 billion KRW), and the Special Situation Area Development Project (Phase 4 Comprehensive Island Development Project) (14.5 billion KRW).

In particular, in response to the crisis in the petrochemical industry, the city secured funding for the Regional Industrial Crisis Response Project (17.9 billion KRW), the Development of Carbon-Free Fuel-Based NCC Process Technology for Petrochemicals (8.3 billion KRW), and the Carbon Capture and Utilization Technology Development and Demonstration Project (5.5 billion KRW).

In the culture and tourism sector, projects include the Southern Region Wide-Area Tourism Development Project (Beauty & Spa Wellness Tourism Hub Project, 3.12 billion KRW), and the K-Tourism Island Development Project (2.6 billion KRW). In relation to the 2026 Yeosu World Island Expo, the budget includes the hosting of the 2026 Yeosu World Island Expo as an international event (3.2 billion KRW) and the designation of 2026 as the Year of Visiting Islands (2 billion KRW).

Mayor Jeong Gimyeong stated, “Despite difficult circumstances, our efforts to secure even one more won in national funding have resulted in achieving the highest-ever amount of national support. This was only possible thanks to the hard work of our staff and the united cooperation of everyone, including local National Assembly members Ju Cheolhyeon and Cho Gyeweon, who provided strong support.”

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