Busan is good

Busan Metropolitan City Launches Full-Scale Effort to Secure 2026 National Funding Holds “Budget Policy Consultation Meeting between Busan Metropolitan City and the People Power Party Busan Metropolitan Chapter”

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Busan Metropolitan City announced that on the morning of October 31, it held the “Budget Policy Consultation Meeting between Busan Metropolitan City and the People Power Party Busan Metropolitan Chapter” at the Glad Hotel in Yeouido, Seoul.

This meeting was organized ahead of the final stage of the national budget review by the Special Committee on Budget and Accounts of the National Assembly to reflect Busan’s major pending projects in the 2026 government budget and to request legislative support.

The meeting was attended by Mayor Park Heong-joon, Jeong Dong-man, Chair of the People Power Party Busan Metropolitan Chapter, and 12 local National Assembly members.

Busan Metropolitan City and the People Power Party Busan Chapter have strengthened their cooperative framework, achieving tangible results. Following their previous budget policy consultation in September, they accomplished significant milestones, including the private investment eligibility approval for the Busan-type Urban Express Railway (BuTX), the passage of the Geumjeongsan National Park designation through the Central Urban Planning Committee, the government’s commitment to hold a Health Insurance Policy Deliberation Committee meeting within this year for the public conversion of Busan Baptist Hospital, and the waiver of rush-hour tolls at Garak Interchange (IC). These achievements demonstrate the effectiveness of the city-party collaboration system.

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Building on these outcomes, the city and the People Power Party Busan Chapter agreed to reactivate their joint efforts to secure national funding during the National Assembly’s budget deliberation phase. They discussed budget acquisition strategies, project prioritization, and solutions to major pending issues.

In line with the National Assembly’s budget review schedule beginning November 6*—covering comprehensive policy inquiries (Nov. 6–7), economic ministries (Nov. 10–11), non-economic ministries (Nov. 12–13), budget subcommittee sessions (Nov. 17–24), and the legal deadline for budget approval (Dec. 2)—Busan plans to make every effort to preserve approved funding and secure additional allocations where needed.
(*Comprehensive policy inquiries: Nov. 6–7; Economic ministries: Nov. 10–11; Non-economic ministries: Nov. 12–13; Budget Subcommittee: Nov. 17–24; Budget approval deadline: Dec. 2)

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During the meeting, the city presented 27 key national funding projects and 17 major policy issues to the People Power Party Busan Chapter.

The proposals included:
▲ Establishing a safe drinking water supply system in the Nakdong River Basin
▲ Building a next-generation aircraft component advanced manufacturing demonstration base
▲ Constructing an autonomous smart port mobility hub
▲ Establishing manufacturing infrastructure for compound semiconductors for extreme and polar industries
▲ Developing core technologies for Physical AI
▲ Promoting spatial computing industries based on AI
▲ Building a marine and port AX (Augmented eXperience) Demonstration Center
▲ Developing AI-based smart factory technologies for the footwear industry

In addition, the meeting discussed response strategies for five priority projects—construction of the Bansong Tunnel, construction of the Hwangnyeong 3 Tunnel, creation of the Dadae Marine Leisure Tourism Complex, reconstruction of Sajik Baseball Stadium, and designation of a Hydrogen Specialized Complex—including congestion road designation, feasibility re-evaluation, and competitive project selection.

The city and lawmakers focused particularly on projects with high potential for inclusion in the budget bill to identify concrete strategies for securing funding.

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They also explored ways to resolve core pending issues for Busan’s advancement into a “Global Maritime Hub City” that ensures citizens’ happiness.

The discussion covered:
▲ Supporting the public conversion of Busan Baptist Hospital, which is scheduled for deliberation by the Health Insurance Policy Committee in December
▲ Accelerating total project cost negotiations to enable the Busan Cooperative Fish Market modernization project to begin construction within the year
▲ Pursuing the establishment of the National Dental Research Institute, for which public competition is likely
▲ Requesting national plan inclusion for the Bujeon Multi-Modal Transfer Center and the underground relocation of the Gyeongbu Railway (Gupo–Gaya Depot section)
▲ Preparing for the 2026 World Heritage Committee and World Library and Information Congress in Busan
▲ Promoting the establishment of the fractional investment asset exchange in Busan before its preliminary license deadline

In light of the Second Relocation of Public Institutions, the city and lawmakers examined attraction strategies and target institutions in detail to formulate joint response measures.

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The meeting also reviewed progress on Busan’s key strategic issues, including:
▲ Early construction and timely opening of Gadeokdo New Airport
▲ Relocation and consolidation of the Ministry of Oceans and Fisheries and maritime public institutions to Busan
▲ Relocation of shipping companies’ headquarters to Busan
▲ Establishment of a Maritime Court in Busan
▲ Enactment of the Busan Global Hub City Special Act
▲ Creation of a clean city free from illegal banners for the happiness of citizens

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Meanwhile, Busan Metropolitan City is operating a permanent task force in Yeouido to coordinate closely with National Assembly standing committees and the Budget and Accounts Committee, making final efforts to ensure Busan’s core projects are reflected in the government budget.

The city will also participate in the Budget Policy Consultation Meeting of the People Power Party Busan–Ulsan–Gyeongnam Region on November 4 to continue its all-out efforts to secure funding.

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The meeting was attended by Jeong Dong-man, Chair of the People Power Party Busan Metropolitan Chapter, along with Kim Do-eup, Chair of the Policy Committee, and National Assembly members Lee Seong-gwon and Kim Dae-sik (Budget Committee), reaffirming their determination to cooperate on Busan’s key projects and funding needs.

Lawmakers Lee Seong-gwon and Kim Dae-sik stated, “We will do our utmost to ensure that as many Busan-related projects as possible are reflected in the budget at the Budget Committee stage.”

Chair Jeong Dong-man added, “Strategic government investment is needed for the early construction and timely opening of Gadeokdo New Airport, redevelopment of North Port, the second relocation of public institutions, and the relocation of the Ministry of Oceans and Fisheries and the Korea Development Bank. We will strengthen party-level support to help Busan rise as a global maritime capital.”

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Mayor Park Heong-joon emphasized that “Budget allocations and related public institution relocations tied to AI-led industrial transformation—particularly Manufacturing AI and Vertical AI—must be reflected in the budget.”

He added, “This is a turning point for Busan to truly emerge as a global hub and a global maritime capital. To achieve this, the government must follow through on its promises—such as the swift re-bidding of Gadeokdo New Airport, reinforcement of the Ministry of Oceans and Fisheries, relocation of HMM and concentration of shipping enterprises, strengthening of marine policy finance, establishment of a digital innovation finance testbed, and realization of local autonomy and fiscal decentralization—by enhancing institutional frameworks, infrastructure, authority, and functions.”

He concluded by reiterating, “For Busan to become a global maritime hub, the Busan Global Hub City Special Act must be passed. I sincerely ask for the cooperation of People Power Party members to ensure its passage during the regular National Assembly session.”