Busan is good

Busan Metropolitan City Makes All-Out Effort to Secure National Funding for Its Leap Forward as a “Maritime Capital at the Center of Future Transformation”

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that the mayor will meet with Minister of Planning and Budget Park Hong-keun at 10:00 a.m. today, July 22, at the Government Complex Sejong to strongly request national funding support for major pending projects.

The visit is intended to fully implement the newly established municipal vision of “Busan, a Maritime Capital at the Center of Future Transformation,” following Mayor Chun’s inauguration, and to proactively incorporate key drivers capable of propelling Busan forward into the 2027 national budget proposal.

At the meeting, Mayor Chun will emphasize that Busan is both an innovation hub that will lead the future economy and a central pillar of balanced national development. He will request the government’s full cooperation, focusing on key projects that must be included in next year’s budget to achieve the city’s four major urban goals.

The major priority areas that Busan Metropolitan City will propose to the Ministry of Planning and Budget are as follows.

For new projects, the city will request initial funding to help Busan advance as an “innovative economic city opening the future.” The projects include the Busan Port Physical AI Transformation Demonstration Project, a core initiative that will drive AI-based advanced transformation, with a requested budget of KRW 16 billion; the Five Hubs and Three Special Zones Shipbuilding and Maritime Growth Engine Initiative, which will help establish Busan as a global capital of AI-powered shipbuilding and maritime industries, with a requested budget of KRW 30 billion; the establishment of a full-cycle production platform for next-generation power semiconductors, which will create a core ecosystem for advanced strategic industries, with a requested budget of KRW 21.6 billion; and the development of large-fuselage technology for next-generation aircraft using domestically produced composite materials, which will help secure leadership in emerging aviation industries, with a requested budget of KRW 6.8 billion.

The city will also request the government’s particular attention and national funding support to ensure the timely completion of the Development and Demonstration of a New Research Reactor for Export project, a concluding-stage project that will lead the advancement of regional medical technology, with a requested budget of KRW 152.8 billion.

Mayor Chun Jae-soo said, “The projects we will propose are the cornerstones that will enable Busan to grow as a ‘Maritime Capital at the Center of Future Transformation’ and ultimately realize the goals of becoming ‘a city of balanced growth where every neighborhood is a good place to live’ and ‘a city where all citizens are healthy and happy.’”

He added, “We will communicate closely with the Ministry of Planning and Budget and relevant central government ministries to secure the necessary national funding and momentum so that citizens can tangibly experience Busan once again moving forward toward the world and tomorrow.”