Incheon Secures 6.47 Trillion Won in National Funding for Next Year, Marking Record High

The Incheon Metropolitan Government announced on December 8 that it has secured 6.4735 trillion won in national subsidies for next year’s budget. This is an increase of 603.8 billion won (10.3%) compared to the 5.8697 trillion won secured this year, marking the largest amount ever and ushering in the era of over 6 trillion won in national funding for the first time in history.

Major national projects for which funding has been secured include 309.5 billion won for the Greater Seoul Metropolitan Express Railway (GTX-B), 140.5 billion won for the Cheongna extension of Seoul Metro Line 7, 114.2 billion won for the Incheon-origin Korea Train Express (KTX), 10.7 billion won for comprehensive development support for the five West Sea islands, 16.1 billion won for congestion road improvements between Gongdan Overpass and Seo-Incheon IC, 69.1 billion won for the supply of electric vehicles and charging infrastructure, 87.8 billion won for the supply of hydrogen vehicles, and 120.9 billion won for support for senior employment, among others.

Incheon City Hall

This year in January, the city established a basic plan for securing national funding and selected key projects, continuously requesting their inclusion by the central government. Since May, Mayor Yoo Jeongbok has held frequent meetings and consultations with the Ministry of Economy and Finance and senior officials from central government ministries, focusing on explaining and persuading them of the necessity of securing national funds.

In addition, the city worked closely with local National Assembly members to secure additional national funding, mobilized all administrative resources-including the continuous operation of a national funding situation room-and actively responded during the National Assembly budget review stage.

As a result, the city explained that, during the National Assembly’s budget review process, a total of 10.8 billion won was additionally reflected compared to the government’s original budget proposal. This includes 3.5 billion won (up from the previous 1 billion won) for supporting global regulatory compliance and automotive cybersecurity certification and evaluation, 750 million won for the construction of the Incheon Integrated Veterans Hall, 500 million won for a feasibility study on the construction of the Ganghwa Goryeo Museum, and 1.62 billion won for the installation of non-point pollution reduction facilities in Gyeyang District.

Mayor Yoo stated, "Securing these key budget items despite challenging fiscal conditions is the result of cooperation among the Incheon Metropolitan Government, the central government, and the National Assembly," adding, "We will ensure the smooth implementation of major projects."

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