Busan City Secures Record High National Budget of 7.7 Trillion Won for Next Year

Record Largest Scale Even Under Acting Authority System
Busan City, Fruit of United Efforts by Ruling and Opposition Parties

Major National Funded Projects of Busan City.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City has secured the largest amount of national funding in its history under the authority delegation system.

Busan City (Acting Mayor Byun Sung-wan) announced on the 3rd that the final amount of national funding secured for 2021 is 7.722 trillion KRW.

This does not include the 3.9 trillion KRW allocated for the third government disaster relief fund and vaccine budget due to the spread of COVID-19.

This is an increase of 646.5 billion KRW compared to the 7.0755 trillion KRW secured last year, marking the largest scale in Busan City's history.

This result is evaluated as a combination of efforts by the local political circles, who worked hard to secure the budget, and Busan City's commitment to expansionary fiscal policy in preparation for the post-COVID-19 era.

Busan City is known to have established its budget plan under the strategic task of ‘Responding to the Post-COVID-19 Era,’ focusing on ▲‘National Balanced Development and the Economic Re-advancement of the Southeast Region,’ ▲‘Advancement of Regional Industrial Structure Linked to the Korean New Deal,’ and ▲‘Expansion of Social Overhead Capital and Urban Infrastructure Development.’