Pohang City Secures 1.5183 Trillion Won in National Budget for Next Year to Lead Local Economy and Public Livelihood Stability

Approval of the First Ever Budget Reduction Without Increase, Yet 107.6 Billion KRW Rise Compared to Last Year

Achievement Realized Through Cooperation of Local Lawmakers, Gyeongbuk Province, Universities, Research Institutes, and Political Circles

On the 10th, Pohang City secured a national investment budget of 1.5183 trillion KRW for 2025, which will lead the local economy and stabilize people's livelihoods, following the approval of the government budget proposal.

The 2025 budget increased by 107.6 billion KRW (7.6%) compared to the previous year, with 54 new projects amounting to 102.4 billion KRW and 164 ongoing projects totaling 1.4159 trillion KRW secured.

Despite the government's sound fiscal management policy and the unprecedented approval of a budget with no increases but only cuts, the secured amount increased, particularly with a significant 21.9 billion KRW increase in new project funding.

Mayor Lee Kang-deok expressed his gratitude, saying, "I would like to thank all those who contributed greatly, including the staff who worked hard to secure national funds, Representative Kim Jeong-jae, Representative Lee Sang-hwi, officials from Gyeongbuk Province, city and provincial council members, and the political community. We will also proactively prepare for the government supplementary budget and securing national funds for 2026."

Major new projects include ▲Establishment of underground pipeline infrastructure for the secondary battery specialized complex (7.1 billion KRW) ▲Pohang Small Giant Research and Development Special Zone (Phase 2) (1.8 billion KRW) ▲No-Code manufacturing technology innovation ecosystem establishment (2.3 billion KRW) ▲Development of demonstration technology for oil-gas subsea separation system (3.0 billion KRW) ▲Support for battery and semiconductor specialized graduate schools (6.0 billion KRW) ▲Pohang City southern living area rural agreement (2.8 billion KRW), among others.

By sector, the SOC (Social Overhead Capital) sector secured 38 projects worth 651.9 billion KRW, including ▲Construction of Yeongilman Cross Bridge (455.3 billion KRW) ▲Construction of the Coast Guard pier at Pohang Yeongilman Port (7.7 billion KRW) ▲Construction of the second phase of the southern breakwater at Pohang Yeongilman Port (9.2 billion KRW) ▲Construction of Local Road No. 20 Hyoja to Sangwon (Dongbin Bridge) (12.1 billion KRW), among others.

The R&D sector secured 71 projects totaling 479.8 billion KRW, including ▲Establishment of a new drug design platform utilizing large equipment (5.3 billion KRW) ▲Support for the Bio Future Technology Innovation Research Support Center (4.5 billion KRW) ▲Technology development for the steel industry’s leap forward (11.6 billion KRW) ▲Glocal University 30 (POSTECH) (27.2 billion KRW) ▲Development of marine leisure equipment and safety technology (5.6 billion KRW), among others.

Other sectors secured 109 projects worth 386.6 billion KRW, including ▲Construction of Ocheon Hangsa Dam (8.4 billion KRW) ▲Water supply for Pohang Blue Valley National Industrial Complex (Phase 2) (0.5 billion KRW) ▲Construction of the East Sea Marine Complex Exhibition Center (12.9 billion KRW) ▲Community complex facilities in earthquake-affected areas (5.4 billion KRW) ▲Maintenance of Homigot Port (9.1 billion KRW) ▲Coastal maintenance of Yeongildae District (7.1 billion KRW), among others.

Only the SOC sector decreased by 15.1 billion KRW compared to the previous year, while all other sectors increased.

In particular, the R&D budget increased by 42.8 billion KRW to 479.8 billion KRW compared to the previous year. Pohang City secured 64.9 billion KRW for 22 projects in key areas such as secondary batteries, hydrogen, and bio industries, and led the increase in the R&D budget by securing a total of 12.4 billion KRW for 11 projects, including 9 new digital and AI public projects.

However, some projects such as pine wilt disease control, the second phase construction of Yeongilman Port international passenger terminal, and the secondary battery recycled raw material stockpile center, although well-negotiated with the Ministry of Economy and Finance and relevant departments for budget increases, were not reflected in the final budget due to the approval of the reduced budget proposal, which was regrettable.

The city plans to start discovering national funds for 2026 from the end of November and hold a national fund securing report meeting in January. It will supplement efforts by discovering new projects with preliminary feasibility study scales of over 50 billion KRW in the SOC sector, follow-up new projects related to the selection of specialized complexes (secondary battery, bio, hydrogen), and high-quality new projects with a high national fund ratio.