Busan Jinhae Free Economic Zone Authority Goes All-In to Secure Next Year's National Budget

Commissioner Park Sungho Sets Goal of Securing an Additional 23.8 Billion KRW

Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) has begun identifying new projects and reviewing their progress to secure national funding for next year.

The Authority announced on the 13th that it held a briefing session on the progress of securing national funds on the 11th, presided over by Commissioner Park Sungho. The focus was on discovering key projects that could revitalize the Authority and contribute to the local economy in connection with policies currently being promoted by central government ministries.

At this briefing, discussions were held on reporting the main priority projects among all national funding applications, strategies to secure national funds for each project, and the identification of new projects, with the goal of securing an increase of 23.8 billion KRW in national funding compared to the previous year.

Major projects included development initiatives such as the Bobaebokhap District arterial road, the northern access road to the Busan-Jinhae Free Economic Zone, and the northern arterial road in the Ungdong District, all aimed at strengthening investment attraction and site competitiveness. In addition, efforts will be focused on securing national funding for new projects related to the shipbuilding equipment aftermarket to expand logistics infrastructure.

The Authority plans to intensively identify new projects and expand target projects until the end of May, when ministry budget proposals are submitted to the Ministry of Economy and Finance. To secure national funding, they will establish plans to visit relevant central ministries for each project and actively persuade them through direct visits.

Commissioner Park Sungho stated, "With flexible strategies and swift responses, we will continue to collaborate with central ministries and city/provincial governments to do our utmost to secure national funding and revitalize the local economy."