Yeosu City, Next Year's Budget 1.4825 Trillion Won... 25 Billion Won Increase from This Year

Comprehensive Plans for the World Island Expo and Yeosu Man Renaissance
Focused on Economic Recovery, Welfare for the Vulnerable, and Strengthening Citizen Safety

Yeosu City, Jeollanam-do (Mayor Jeong Gi-myeong) announced on the 20th that it has finalized the 2025 budget proposal and will submit it to the city council on the 21st.

According to the city, next year's budget proposal is 1,482.5 billion KRW, an increase of 25 billion KRW (1.7%) from this year's main budget of 1,457.4 billion KRW.

Yeosu City has finalized the 2025 budget proposal and will submit it to the City Council on the 21st. Next year's budget is 1.4825 trillion won, an increase of 25 billion won from this year's main budget of 1.4574 trillion won. Photo shows the exterior view of Yeosu City Hall.

The general account increased by 14.8 billion KRW (1.1%) to 1,351.1 billion KRW, and the special account rose by 10.2 billion KRW (8.4%) to 131.4 billion KRW.

The city has slightly increased the budget compared to this year's main budget, focusing on preparations for the upcoming 2026 Yeosu World Islands Expo, acquisition of long-unexecuted urban park sites, and current issues such as welfare, safety, and the local economy. Accordingly, key projects such as the large-scale regional projects?the 2026 Yeosu World Islands Expo, the Yeosu Bay Renaissance Comprehensive Development Plan, and the completion projects for 2025?can be smoothly promoted.

In addition, the budget actively reflects citizen-centered expenses such as ▲resolving the population extinction crisis and revitalizing the local economy ▲universal welfare policies ▲climate change response environmental policies ▲improvement of residential conditions.

To prepare for the successful hosting of the 2026 Yeosu World Islands Expo, the budget includes ▲225.5 billion KRW for entrusted projects supporting the Expo ▲1.86 billion KRW for contributions to the 2026 Yeosu World Expo Organizing Committee foundation ▲2 billion KRW for the development of the Gaedo rural tourism and leisure complex ▲800 million KRW for installing smart lighting around the Expo site ▲1.87 billion KRW for the construction of the Gaedo Island Fishing Village Culture Center.

As part of the '8th Term' election pledges, the budget reflects ▲2.5 billion KRW for the construction of a temporary city hall ▲1.45 billion KRW for the regeneration project of Yeosu Ocheon General Industrial Complex ▲5.15 billion KRW for childbirth incentives ▲700 million KRW for interest support on housing rental loans for newlyweds ▲1.33 billion KRW for free meals at senior citizen centers ▲2.62 billion KRW for convenience and rest facilities for transportation workers.

For securing future growth engines, the budget includes ▲10 billion KRW for the regional revitalization investment fund (Myodo LNG Hub Terminal) ▲1.6 billion KRW for building energy self-sufficiency infrastructure in Yeosu Industrial Complex ▲1.12 billion KRW for supporting public-led offshore wind farm development projects.

Citizen-centered residential environment improvement projects include ▲840 million KRW for the creation of Gwan-gi Reservoir Ecological Park ▲1.85 billion KRW for urban gas supply pipelines and LPG pipeline networks in eup/myeon areas ▲2 billion KRW for expanding Dolsan living SOC ▲1.5 billion KRW for the Hallyeo District Urban Regeneration New Deal Project ▲650 million KRW for opening urban planning roads in the Hallyeo District Urban Regeneration New Deal Project ▲3 billion KRW for road expansion from Yulchon Intersection to Yeonhwa Village. Notably, the city plans to issue 37 billion KRW in local bonds to purchase sites for long-unexecuted urban parks (Museonsan and Jasan Park).

Projects for protecting socially vulnerable groups, recovering the local economy, and strengthening social safety nets include ▲1.82 billion KRW for the Jeollanam-do?Yeosu City birth basic allowance ▲1.62 billion KRW for Yeosu-style youth rental housing support ▲3.18 billion KRW for entrusted operation of the transportation disadvantaged mobility support center ▲6.25 billion KRW for discount compensation for Yeosu Love Gift Certificates ▲1 billion KRW for interest difference compensation for small business support ▲950 million KRW for youth interns (Yeosu-style youth customized internship project) ▲860 million KRW for installing security CCTV for citizen safety ▲1.19 billion KRW for operating safety guardians on school routes.

Mayor Jeong Gi-myeong of Yeosu said, “The 2025 budget proposal focuses on essential projects directly related to citizens' lives, such as revitalizing the local economy and welfare for vulnerable groups amid uncertain domestic and international economic conditions and deteriorating local tax revenues due to poor business performance of petrochemical companies in the Yeosu National Industrial Complex. We will ensure the main budget is finalized without any setbacks through continuous communication and cooperation with the city council.”

Meanwhile, the city’s budget proposal will undergo review by the city council’s standing committees and the Budget and Accounts Special Committee starting from the 3rd of next month and is scheduled to be finalized on the 16th.