Busan is good

Busan gets largest grant from gov’t

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 Up 27.8% from 2008 to 3.3 trillion won

Busan has secured largest amount of subsidies from the central government's budget for 2009, opening the way for smooth implementation of various pending projects.

The city has won budgetary support of 3.3 trillion won($2.6 billion), the largest amount ever by recording an increase of 718 billion won, or 27.8 percent, from the 2.58 trillion won last year.

Mayor Hur Nam-sik and other officials at the City Hall have actively developed projects subject for central governmental supports as well as proper logic for persuading bureaucrats in Seoul about their necessity.

Also, they had frequent consultation with National Assemblymen representing the city to form a joint front in the budget battle to win the recordhigh subsidies.

In the course of parliamentary budget deliberation, the city has added such projects as constructing an industrial park for advancing the processing of fisheries products for exports, building a youth culture center in Buk-gu District, setting up a national library in Busan and establishing state-of-theart transportation infrastructure.

Busan has also secured an additional 73.6 billion won to the existing projects such as the PIFF, North Port redevelopment and refurbishing ecological streams.

Municipal officials expect these will help to promote the large pending projects as scheduled.

Expectations are higher than ever, too, that the city will reinvigorate regional economy this year with the increased budgetary support, especially by pushing ahead with the major infrastructure projects.

The projects include expanding Busan-Jinhae Free Economic Zone, redeveloping North Port, building roads linking New Port and North Port, and replenishing infrastructure in regional industrial parks.

The source of news : Dynamic Busan