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Busan-Ulsan-Gyeongnam Megacity Economic Union Promotion Division Embarks on Full-Scale Effort to Secure National Funding as a “Leader of the Local Era”

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The Busan-Ulsan-Gyeongnam Megacity Economic Union Promotion Division (hereinafter referred to as “the Promotion Division”) announced that it has launched the Busan-Ulsan-Gyeongnam Megacity National Funding Response Team with the goal of advancing into one of the eight major economic blocs of Northeast Asia, officially initiating efforts to secure national funding for key pending projects in 2026.

Since March 2023, the Promotion Division has worked together with the three local governments to identify and promote 58 joint cooperative projects. Of these, 22 require national funding for next year.

Major projects include:

• ●the construction of the Busan–Yangsan–Ulsan Metropolitan Railway,

• ●the Busan New Port–Gimhae Expressway,

• ●establishment of transfer and multimodal transfer centers across the region, and

• ●the hydrogen fuel-based commuter aircraft regional innovation mega-project.
  These initiatives span infrastructure development, fostering new growth industries, and improving quality of life.

To this end, the Promotion Division and the three cities and provinces will operate an integrated cooperative system from the Ministry of Economy and Finance’s budget planning stage to the National Assembly’s deliberation in December to jointly secure national funding.

During the government budget proposal phase, the Promotion Division will collaborate closely with national funding teams and relevant departments from each region. At the National Assembly review stage, the planning and coordination directors of the three local governments will visit the Assembly together to provide briefings on key projects and submit funding proposals.

Joo Min-hee, Director of the Busan-Ulsan-Gyeongnam Megacity Economic Union Promotion Division, stated, “We will make every effort not only to secure national funding but also to ensure that related government policies are reflected, so that the Busan-Ulsan-Gyeongnam Megacity can become a new model for balanced regional development.”