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Busan Metropolitan City Secures Additional KRW 3.4 Billion After Receiving an Excellent Rating in Regional Account Evaluation for Local Extinction Response Fund

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Busan Metropolitan City (Mayor Chun Jae-soo) announced that it has secured an additional KRW 3.4 billion for 2026 after receiving an Excellent rating in the evaluation of investment plans for the additional allocation from the 2026 Regional Account of the Local Extinction Response Fund.

The additional funding was allocated on a differentiated basis following an evaluation of investment plans submitted by 14 metropolitan cities and provinces nationwide. Busan's Excellent rating demonstrates the strength of its policy initiatives.

Busan Metropolitan City received high marks in the evaluation for identifying three projects closely aligned with local conditions and residents' needs, centered on the key themes of "Generations and Activities," "Youth and Growth," and "Spaces and Settlement." The major projects to be financed through the newly secured funding are as follows.

(Establishment of an Intergenerational Shared Campus) Busan Metropolitan City will transform unused facilities at a local university in Geumjeong-gu into an intergenerational hub offering educational, cultural, and sports activities. The project will open university spaces left underutilized due to the declining school-age population to the local community, transforming them into activity spaces for people of all generations.

(Busan Youth First Career Bridge Project) This project will provide systematic support to help young people turn their first work experiences into employment opportunities and long-term settlement in the region. Twenty professional managers will be assigned to provide personalized career planning support, beginning with initial consultations, while participants will receive 50 hours of progressive job competency training per person annually.

(Vacant House Plus Dream Project) This project will revitalize long-abandoned vacant houses in population-declining areas, transforming them into creative spaces for artists and community hubs where residents can interact. In addition to improving living conditions, the initiative is expected to bring renewed vitality to neighborhood commercial districts in Busan's historic downtown areas.

In addition, Busan Metropolitan City has been steadily implementing a range of initiatives using previously secured allocations from the Local Extinction Response Fund to strengthen local vitality. These include promoting workations, fostering young local creators, and operating the Busan-style 365 Open Part-Time Childcare Centers.

Mayor Chun Jae-soo stated, "Securing this additional funding is particularly meaningful because it provides financial resources for initiatives that reflect Busan's unique characteristics, including collaboration with local universities, helping young people settle in the region, and revitalizing underutilized spaces."

He emphasized, "We will continue to make strategic use of the Local Extinction Response Fund to improve living conditions and devote our utmost efforts to making Busan a city of happy citizens that connects all generations and their futures, from marriage and childbirth to childhood, youth, and older adulthood."