Busan is good

Busan Secures KRW 10 Trillion in National Funding, Laying the Foundation for Its Leap Forward as a Global Hub City

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Busan Metropolitan City (Mayor Park Heong-joon) announced that, with the passage of the 2026 national budget during the National Assembly’s plenary session last night (December 2), the city has secured KRW 10.2184 trillion in national funding—its largest allocation ever.

This represents an increase of KRW 582.1 billion (6.0%) compared to last year’s KRW 9.6363 trillion, marking a significant step forward in strengthening Busan’s future competitiveness and improving citizens’ quality of life.

In particular, the “Nakdong River Basin Potable Water Supply System Establishment Project” has been included in next year’s budget, while key advanced industry projects in bio, digital, and marine sectors—such as the “Autonomous Driving-Based Smart Port Mobility Hub Development Project”—have also been newly approved. The original government allocation of KRW 688.9 billion for the Gadeokdo New Airport construction project was retained. With a substantial number of strategic projects reflected, the city has secured foundational momentum for its ascent as a global hub city.

Environmental and Safety Sector: Building a Safe Urban Environment for Citizens

The long-awaited “Nakdong River Basin Potable Water Supply System Establishment Project” received KRW 1.92 billion in design funding, enabling the full-scale pursuit of securing clean and safe water.

Additionally, KRW 3.4 billion was newly allocated for the management and operations of Geumjeongsan National Park—the nation’s first urban national park. Funding increases were also secured for the “Haksang–Gamjeon District 2 Disaster Risk Zone Improvement Project” (KRW 2.75 billion), the “Dongnae–Sumin Sewerage Maintenance Project” (KRW 1.902 billion), the “Busan Nakdong River Estuary Sluice Gate Upstream Daejeo Floodgate Improvement Project” (KRW 5 billion), and the “Non-Point Pollution Reduction Projects for Dongcheon and Bujeoncheon” (KRW 7.5 billion), strengthening the city’s disaster safety network.

Advanced Industry Sector: Securing Busan’s Future Growth Engines in Bio, Digital, and AI

Busan achieved notable progress in its efforts to reshape the city’s industrial landscape around next-generation growth engines.

A new allocation of KRW 766 million for the “Advanced Regenerative Medicine Clinical Demonstration Support Platform” and KRW 3 billion for the “Production and Development of Radiopharmaceuticals for Intractable Disease Diagnosis and Treatment” establishes a foundation for Busan’s emergence as a hub for advanced medical industries.

Additional new funding was secured for several cutting-edge projects:

• ●“Autonomous Driving-Based Smart Port Mobility Hub Development” (KRW 1.96 billion)

• ●“Aerospace Regional Innovation Infrastructure Development” (KRW 2 billion)

• ●“Shipbuilding AX Specialized AI Model House Development” (KRW 2 billion, including two additional sites outside Busan)

• ●“Extreme and Polar Industry Compound Semiconductor Manufacturing Infrastructure Development” (KRW 2 billion)

• ●“Silicon Carbide (SiC) High-Efficiency Power Semiconductor Substrate Analysis Support Center” (KRW 2 billion)

The city also secured increased funding for several existing strategic projects, including:

• ●“XR-Based Digital Twin System for Future Mobility Platform Support” (KRW 3.6 billion)

• ●“Biomass-Based Vegan Leather Development and Demonstration Cluster” (KRW 4 billion)

• ●“Intelligent Healthcare Product-Based Demonstration and Commercialization Support” (KRW 1.48 billion)

• ●“Blockchain Specialized Cluster Development” (KRW 4.06 billion)

These allocations are expected to accelerate the development of a robust advanced industry ecosystem in Busan.

Culture, Sports, and Tourism Sector: Strengthening Busan’s Global Cultural Competitiveness

Key projects supporting Busan’s emergence as a “global cultural hub” blending design, K-content, and marine leisure have also been reflected in the budget.

To commemorate Busan’s selection as the World Design Capital 2028, funding for the “Global Busan Design Fair” (KRW 600 million) was newly secured. The city also secured increased funding for the “Asia Content & Film Market Development Project” (KRW 600 million), reinforcing its standing as Asia’s leading visual media hub.

Three major marine exhibitions received increased allocations compared to the government’s initial proposal—

• ●“Busan International Boat Show” (KRW 430 million),

• ●“Korea International Marine Leisure Week” (KRW 500 million), and

• ●“Korea Marine Mobility & Safety Expo” (KRW 180 million)—
  enhancing Busan’s competitiveness as a center for global marine industries and tourism.

Funding was also secured for key public infrastructure projects that support citizens’ daily lives, including the full renovation of the “Deokcheon-dong Outdoor Swimming Pool” (KRW 1 billion) and the “Busan Indoor Ice Rink” (KRW 415 million). In addition, KRW 1.5 billion was allocated for the development of the “Beomeosa Temple Traditional Temple Food Experience Center,” which will serve as a distinctive wellness tourism destination unique to Busan.

One-Team Collaboration Between the City and Local Political Leaders

The city noted that this year’s success in securing national funding was largely due to strong “one-team” collaboration between the municipal government and local political leaders.

Led by Representative Kim Dae-sik, a member of the Budget Subcommittee, Busan-area lawmakers coordinated closely with the city to develop strategies in real time and strongly advocated to the central government. Through persistent negotiation during the National Assembly’s budget review, they succeeded in securing several key projects that were not included in the government’s original plan.

Mayor Park Heong-joon expressed his gratitude, stating, “This historic achievement in securing the largest-ever national budget allocation was made possible thanks to the dedicated cooperation of our region’s National Assembly members. I sincerely appreciate the efforts of the 18 Busan lawmakers who persistently advocated for our city throughout the review process.”

He added, “The beginning of the KRW 10 trillion national funding era signals a new chapter for Busan. We will ensure that every won of this precious funding is used effectively to materially improve citizens’ lives and transform Busan’s future. With unwavering dedication to creating a ‘Busan worth living in again’ and ‘a Busan where citizens are truly happy,’ we will make this a year in which Busan soars even higher as a global hub city.”