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Facilitating Rapid Economic Recovery and Stabilizing Livelihoods – Busan Metropolitan City Allocates KRW 1.0883 Trillion for 2025 3rd Supplementary Budget

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Busan Metropolitan City (Mayor Park Heong-joon) announced yesterday (18th) that it submitted the “2025 3rd Supplementary Budget Plan” totaling KRW 1.0883 trillion, representing a 6.2 percent increase compared to the 2025 original budget of KRW 17.6106 trillion, to the City Council.

This supplementary budget utilizes additional financial resources secured through the Government’s 2nd supplementary budget, surplus in various funds, and the issuance of local bonds. These funds will be allocated to areas such as the local matching portion of the livelihood recovery consumption coupon program, the regional gift certificate incentive, national subsidy programs such as welfare for vulnerable groups, and the needs arising from regional pending issues, with the aim of promoting rapid economic recovery and stabilizing livelihoods.

First, KRW 934.4 billion has been allocated to the “Livelihood Recovery Consumption Coupon Program” to support economic recovery and livelihood stabilization.
○ This includes KRW 870.6 billion in national funds provided through the Government’s 2nd supplementary budget and KRW 63.8 billion in local matching funds, which will be promptly allocated in order to efficiently distribute consumption coupons and support the revitalization of the local economy, in a way that citizens can feel.

Next, an additional KRW 83.7 billion has been earmarked for compensation for the “Regional Gift Certificate Incentive” to stimulate local consumption and strengthen support for small businesses.
○ The cashback rate of the Dongbaekjeon regional gift certificates was operated at up to 7 percent through August of this year; however, from September it will be expanded to up to 13 percent.
○ As the enhanced cashback benefit is expected to increase demand for the use of Dongbaekjeon, the City plans to promote revitalization of local consumption and boost sales of small businesses through this timely additional budget allocation.

KRW 46.9 billion has been allocated to national subsidy programs in the fields of youth and vulnerable group welfare and public transportation, in order to enhance citizen happiness.
○ Due to the extension of the support period for the “Temporary Special Rent Support Project for Youth” from one year to two years, an additional KRW 10.4 billion has been allocated, thereby expanding support to alleviate housing cost burdens for young people experiencing financial hardship.
○ For the “Daytime Activity Service Support Program for Persons with Developmental Disabilities”, KRW 4.9 billion has been allocated to support an additional 318 beneficiaries, and KRW 2.7 billion has been allocated for the “Support Program for Childcare Fees for Infants and Toddlers” to reflect a 5 percent increase in the unit cost for children aged 0–2 and children with disabilities.
○ In addition, to improve public transportation infrastructure, KRW 10 billion has been allocated for the construction of the Busan Metro Sasang–Hadan Line, and KRW 8.2 billion has been allocated for the LTE-R wireless communication network construction support project.

KRW 2.8 billion has been allocated to urgent financial needs related to regional pending issues, such as improving treatment of nighttime child caregivers and preparing for international events such as the World Heritage Committee.
○ KRW 100 million has been newly allocated to improve treatment for nighttime child caregivers, including allowances for caregivers for vulnerable groups during nighttime hours, in order to prevent safety incidents due to childcare service gaps and to provide more comprehensive and systematic childcare support.
○ KRW 500 million has been newly allocated for the creation of momentum and international promotion to ensure the successful hosting of the 2026 UNESCO World Heritage Committee meeting, which has been confirmed to take place in Busan.
○ KRW 500 million has been newly allocated to build citywide consensus and prepare for advancement as a global design hub city, following Busan’s final selection as World Design Capital (WDC) 2028.
○ KRW 600 million has been additionally allocated to maintain regular employment and promote hiring within the region. The City will expand support to 1,000 beneficiaries for the Hope Employment Retention Support program and 70 beneficiaries for the regular employment incentive program for individuals in their 40s and 50s.

Mayor Park Heong-joon stated, “Despite limited financial resources, this supplementary budget plan focuses funding on areas that can provide substantive support for rapid economic recovery and stabilization of livelihoods. We hope that it serves as priming water for revitalizing the local economy in a way that citizens can truly experience. We kindly request the active support and cooperation of our citizens and the City Council to ensure that these valuable financial resources are used in the right places.”