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Busan Metropolitan City’s Key Projects Reflected in Government Budget Proposal… One Step Closer to Realizing a Global Hub City

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Busan Metropolitan City (Mayor Park Heong-joon) announced today (29th) that its key projects have been largely reflected in the “2026 Government Budget Proposal” released by the Ministry of Economy and Finance.

The City has continuously emphasized Busan as the central city for balanced national development and a key investment destination. With the vision of realizing “a city of citizen happiness and a global hub city,” the City has meticulously reviewed the progress of existing projects and worked intensively on discovering new projects since the beginning of the year.

In particular, on August 14, Mayor Park Heong-joon met directly with Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, to actively stress the need for state funding for core projects. Until the final stage, Busan Metropolitan City persuaded the Ministry of Economy and Finance and other central government agencies, supplementing its project justifications, leading to this achievement.

With the inclusion of key projects in the areas of transportation and logistics, finance and startups, digital and new industries, and culture and tourism in the government proposal, Busan has laid the foundation to advance as a global hub city and to secure strong momentum for innovation.

[Transportation & Logistics] The “Gadeokdo New Airport construction project,” which had faced multiple delays and obstacles in the bidding process, secured KRW 689 billion in state funding, establishing a solid foundation for timely opening. In addition, several core projects for improving the transportation network in western Busan were reflected: ▲Busan Metro Sasang–Hadan Line construction (KRW 30 billion) ▲Busan Metro Hadan–Noksan Line construction (KRW 37 billion) ▲Daejeo Bridge crossing the Nakdong River (KRW 7 billion) ▲Eomgung Bridge (KRW 32 billion) ▲Jangnak Bridge (KRW 10 billion). These projects are expected to accelerate infrastructure development that will support Busan’s emergence as a global hub city.

[Finance & Startups] The City will also accelerate the creation of a startup-driven innovation hub. The “North Port Global Startup Hub” (KRW 5 billion) is scheduled for completion next year, while the “Blockchain Specialized Cluster” (KRW 2.2 billion) and the “Green Startup Town” (KRW 6.5 billion) have also been reflected, boosting Busan’s leap forward as a global financial city and Asia’s leading startup city.

[Digital & New Industries] Meaningful achievements were also made in future industries. New projects reflected include: ▲“Region-Led AI Transformation Project” (KRW 7 billion) ▲“AX-based AgeTech Demonstration Hub” (KRW 3 billion) ▲“High-Value Technology Development for Medical Radioisotopes” (KRW 2 billion) ▲“Maritime and Port AX Demonstration Center construction” (KRW 360 million). These AI, bio, and energy innovation projects are expected to contribute to the expansion of Busan’s advanced industry ecosystem.

[Culture & Tourism] To expand inbound tourism and develop differentiated tourism content, the following were included: ▲“Support for Advancement of K-Content-Based Tourism Ecosystem” (KRW 1.25 billion). In addition, cultural and tourism development projects in southern Busan were newly reflected: ▲“Nakdong Sunset Hwamyeong Eco Park” (KRW 1.66 billion) ▲“Amisan Sunset Tourism Landscape Project” (KRW 810 million). Also included were projects to create premium leisure spaces utilizing local tourism resources: ▲“Waterfront Walkway Construction Project” (KRW 3.5 billion) ▲“(National) Hwangnyeongsan Healing Forest” (KRW 1.8 billion) ▲“(National) UN Peace Memorial Hall Annex Construction” (KRW 200 million) ▲“Yeongdo Marine Healing Center Construction” (KRW 2 billion). These projects are expected to further strengthen Busan’s tourism competitiveness.

A future growth foundation for strengthening competitiveness in K-shipbuilding and marine industries has also been laid. Through the “Shipbuilding & Marine Future Innovation Talent Training Center” (KRW 11.1 billion), a systematic framework for fostering skilled professionals spanning research and production has been established. The “Next-Generation Marine Mobility Global Innovation Special Zone” (KRW 1.8 billion) is expected to accelerate the commercialization of advanced technologies and lead new markets. Support for “Enhancing Global Competitiveness of Small and Medium Shipyard Naval Vessel MRO” (KRW 4.9 billion) has also been included, further strengthening Busan’s role as a global maritime hub city.

The City plans to strengthen cooperation with local National Assembly members and actively persuade for state funding during the parliamentary budget review process, led by the Vice Mayor for Administrative Affairs. In line with the budget review schedule, the City will operate a “National Assembly Task Force” until the year-end review is completed, making every effort to defend the secured funds and to reflect additional necessary projects in the national budget.

Mayor Park stated, “As a result of active discussions with the government, many of Busan Metropolitan City’s major projects have been reflected, laying the foundation for Busan’s growth into a global hub city. Now, we will do our utmost to secure additional projects necessary for Busan’s future during the remaining National Assembly review process.”