[2021 Budget Plan] 26 Trillion Won Allocated to Expand Public Sector Investment Including SOC

9.2 Trillion Won for Alleviating Traffic Congestion Including GTX
Green Remodeling for 84,000 Public Buildings

[Asia Economy, reporter Moon Jewon] The government has allocated 26 trillion won for public sector investment, including social overhead capital (SOC), an increase of 2.8 trillion won (11.9%) compared to this year.

First, 9.2 trillion won will be invested to alleviate traffic congestion in major metropolitan areas, including the Greater Seoul Metropolitan Express Train (GTX) and the Daegu Metropolitan Railway. The government will also accelerate the timely completion of key national road and rail networks such as the Busan-Ulsan double-track railway, as well as the construction of expressways from Sejong to Guri and Dangjin to Cheonan, and the Honam high-speed rail line.

In the logistics sector, three additional hub-type smart joint logistics centers for small and medium-sized enterprises will be established. An online trading system for agricultural and livestock products will be created, and a new 500 billion won loan program for advanced logistics equipment will be introduced.

One trillion won has been allocated for the green and zero-energy transformation of public buildings. Through this, 84,000 public buildings will undergo green remodeling, and energy-saving facilities will be installed at 133 locations, including daycare centers and new sports facilities.

For the 'SOC Digitalization' project, 2.4 trillion won has been allocated. This project aims to enhance management efficiency and prevent safety accidents by establishing digital management systems in four major SOC sectors: roads and railways, airports and ports, water resources, and disaster response. By next year, intelligent transportation systems (ITS) will be installed on 50% of national highways, and IoT sensors will be installed on 62% of railway sections.

Investment in disaster prevention, such as for floods, has also been expanded. Safety and disaster prevention investments for aging infrastructure such as roads, railways, and reservoirs have been increased to 6 trillion won. Smart flood management systems, including remote sluice control devices, will be installed and operated at 1,218 national rivers. Early risk warning systems will be installed at 510 high-risk disaster areas, including steep slopes.

1.7 trillion won will be used for projects such as repairing and renovating aging bridges and tunnels, and improving 210 hazardous roads. In addition, 1.8 trillion won has been allocated for the renovation of 401 aging railway facilities, seismic performance reinforcement at 5 sites, and improvement of 1,221 track switches.