Busan is good

Busan Allocates KRW 281.3 Billion in First Supplementary Budget to Boost Economic Vitality and Enhance Quality of Life

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Busan Metropolitan City, led by Mayor Park Heong-joon, announced that it submitted the “First Supplementary Budget Proposal for 2026,” totaling KRW 281.3 billion—an increase of 1.6% from the 2026 main budget of KRW 17.9311 trillion—to the City Council last week (February 27).

This supplementary budget utilizes additional secured financial resources, including the finalized ordinary local shared tax allocation for 2026, to respond to essential needs for stabilizing people’s livelihoods and to more swiftly promote the recovery of regional economic vitality. The budget focuses on: ➊ a globally dynamic city brimming with economic vitality and ➋ a citizen-centered happy city with convenient daily life.

First, KRW 99.3 billion has been allocated to leap toward a “Globally Dynamic City with Vibrant Economic Vitality.”

[Revitalizing the People’s Economy and Neighborhood Commercial Areas: KRW 72.7 billion]
Support for small business owners and traditional markets will be expanded to stabilize livelihoods and boost local consumption.

The Dongbaekjeon local currency program will increase cashback benefits through June, applying a monthly limit of KRW 500,000 with a 10% cashback rate. A citywide campaign will also be launched to promote the purchase of local products, strengthening a virtuous cycle of consumption in neighborhood commercial areas and supporting business recovery.

Two additional Onnuri gift certificate refund events will be held at 100 traditional markets. Public support consulting services will be newly provided to four markets to accelerate market improvement projects. In addition, a safety management package project will be implemented at four markets to enhance electrical, fire, and gas safety at individual market stores, thereby strengthening support for traditional markets.

A preliminary feasibility study response service will be carried out to advance the modernization project of the Banyeo Agricultural and Marine Products Wholesale Market. Two cultural tourism-type markets will be fostered to support the development of regionally distinctive products. Furthermore, convenience facilities at the International Underground Shopping Center will be expanded and remodeling will be undertaken to enhance competitiveness in local commercial districts.

To ease the financial burden on small and medium-sized enterprises and small business owners, an additional KRW 668 billion in policy financing will be provided, along with expanded interest subsidies to support business stability.

[Revitalizing the Domestic Economy by Enhancing Urban Vitality: KRW 26.6 billion]
Urban vitality will be restored and domestic economic activity promoted through infrastructure investment and increased tourist attraction.

Support will be provided for facility replacement investment in future vehicle production plants to create new jobs and strengthen the competitiveness of local partner companies. Overseas marketing support for local SMEs will also be reinforced to enhance export competitiveness.

A Visit Busan Pass promotion targeting returning foreign tourists will be implemented to encourage repeat visits. A trolley route will be introduced for the City Tour Bus in the original downtown area to attract tourists and enhance Busan’s appeal as a global tourism city.

The Busan International Marathon, symbolizing Busan as a maritime capital, and the Marine Mobility and Safety Expo will be hosted, while the Global Busan Design Fair will be promoted without disruption to attract visitors and elevate the city’s standing as a vibrant global city.

Seodong-ro within the Seo-Geumsa Redevelopment Promotion District will be expanded to improve residential conditions. Additionally, one Haha Center and two pedestrian safety streets will be newly developed through the second Happy Challenge Project to boost urban vitality.

Next, KRW 95.8 billion has been allocated to realize a “Citizen-Centered Happy City with Convenient Daily Life.”

[Improving Everyday Services and Strengthening Health and Safety Foundations: KRW 52.4 billion]
Improvements in public services that citizens can experience daily will support the restoration of a healthy and safe daily life.

The “Everyone’s Card” flat-rate program will be introduced, providing unlimited refunds for monthly public transportation expenses exceeding KRW 55,000, thereby enhancing convenience and satisfaction in public transit use.

Free tolls during commuting hours on the Eulsukdo Bridge and Sanseong Tunnel will continue. Following the opening of the Mandeok–Centum Expressway, road structure improvements at its starting and ending sections will be carried out to improve traffic services.

The Youth Rental Deposit Loan Interest Support Program will shift from a first-come, first-served monthly application system to year-round rolling applications, supporting an additional 400 individuals. Remodeling of 140 aging public rental housing units will include installation of high-performance insulation windows and LED lighting to strengthen housing welfare.

The Maternal and Newborn Health Management Support Program will assist a total of 9,000 individuals to meet rising demand. One additional Moonlight Children’s Hospital will be designated, and support for the Busan-style emergency patient transport system will be expanded to reinforce the city’s medical safety net.

A National Safety Experience Center and a Busan Children’s VR Disaster Safety Experience Education Center will be established to expand hands-on safety education infrastructure. Comprehensive improvements will also be carried out in four natural disaster risk areas, including the Hakjang 2 District, and in two flood-prone living zones, including the Daeyeon District, to protect citizens’ safe daily lives.

[Expanding Infrastructure for Rest, Leisure, and Citizen Happiness: KRW 43.4 billion]
Cultural foundations that allow citizens to enjoy rest and leisure in everyday life will be expanded to enrich quality of life.

Eight sports lecture programs for residents aged 65 and older will be implemented. Ten public sports facilities, including Sajik Indoor Gymnasium, will undergo renovation to strengthen everyday sports infrastructure.

The Park Zoo within Busan Children’s Grand Park will be acquired, laying the groundwork for operating an eco-friendly hub zoo in a city currently without one. The long-closed Hwamyeong Outdoor Swimming Pool will be redeveloped into a four-season water and leisure complex to expand recreational infrastructure.

In line with the designation of Geumjeongsan as a national park, the Geumgang Park area will be reorganized and a master plan will be established to determine long-term development directions. Public design improvements will be carried out in the Haeundae Tourism Special Zone, and urban forest projects will be implemented at the Haeundae Arboretum Spring Flower Garden and Climbing Plant Garden to enhance the urban landscape and environment.

A Temple Food Experience Center will be constructed and a Seon Culture Center established to provide opportunities for mental and physical healing. Performance project funding will be provided to two organizations selected for the Ministry of Culture, Sports and Tourism’s Regional Representative Arts Group Support Program, revitalizing the performing arts ecosystem and expanding citizens’ access to cultural enjoyment.

Mayor Park Heong-joon stated, “Through this supplementary budget proposal, we sought to swiftly and effectively invest newly secured financial resources to promote recovery of the people’s economy and enhance citizens’ quality of life. I hope this budget will serve as a stepping stone toward completing the visions of a ‘Global Hub City’ and a ‘Citizen Happiness City’ that we have pursued during the 8th popularly elected administration. I ask for the active support and cooperation of our citizens and the City Council so that these valuable resources may be used where they are most needed.”