Busan Allocates 1.0883 Trillion Won in 3rd Supplementary Budget for Economic Recovery and Livelihood Stability

Busan Announces 3rd Supplementary Budget for 2025
Focus on Consumer Coupons, Welfare, and Public Transit Expansion
Additional Support for Small Businesses and Vulnerable Groups

Busan City has formulated the "3rd Supplementary Budget Proposal for 2025" totaling 1.0883 trillion won, a 6.2% increase compared to next year's original budget.

This supplementary budget, submitted to the city council, was prepared using national subsidies secured through the central government's second supplementary budget, surplus funds from various grants, and proceeds from local bond issuance. The city plans to focus its investments on revitalizing the local economy and supporting livelihoods by prioritizing projects such as consumer coupon programs, regional gift certificate incentives, welfare for vulnerable groups, and expansion of public transportation infrastructure.

A total of 934.4 billion won has been allocated to the consumer coupon program for livelihood recovery, combining 870.6 billion won in national funding and 63.8 billion won from the city. The city intends to boost the local economy by swiftly distributing these consumer coupons.

An additional 83.7 billion won has been allocated to expand the cashback program for the Dongbaekjeon regional gift certificate. The cashback rate for Dongbaekjeon, which had previously been capped at 7%, will be raised to 13% starting in September, with the aim of stimulating local consumption and increasing sales for small businesses.

Welfare spending has also increased. The support period for the youth monthly rent assistance program has been extended from one year to two years, with 10.4 billion won allocated. Additional funding includes 4.9 billion won for daytime activity services for people with developmental disabilities and 2.7 billion won for expanding childcare subsidies for infants and toddlers. The budget also includes 10 billion won for the construction of the Sasang-Hadan urban railway line and 8.2 billion won for the establishment of a wireless communication network (LTE-R), among other transportation infrastructure projects.

Funding has also been allocated for current issues, including 100 million won for improving the treatment of nighttime child care workers, 500 million won for preparations to host the 2026 World Heritage Committee in Busan, and 500 million won for responding to the selection of the 2028 World Design Capital (WDC). An additional 600 million won has been allocated to expand the Hope Employment Retention Subsidy and regular employment hiring incentives.

Busan Mayor Park Hyungjun stated, "Despite limited resources, we have concentrated our funding on areas that will provide tangible support for stabilizing livelihoods and revitalizing the economy," adding, "This will serve as a catalyst for restoring economic vitality that citizens can truly feel."

Busan City Hall.