17% Increase from 2025 Main Budget of 38.6 Billion Won
Busan and Gyeongnam Contributions Raised After Three-Year Freeze
The Busanjin-Hae Economic Free Zone Authority (headed by Park Sungho) announced on December 18 that it has set its main budget for 2026 at 45.2 billion won, which was confirmed through the council meeting.
The Busanjin-Hae Economic Free Zone Authority is a local government association established with Busan Metropolitan City and Gyeongnam Province as members. The council, the highest decision-making body composed of representatives from both regions, reviews and approves the budget. On this day, the council meeting was attended by 11 council members, including Song Hyunjun (Chairman) and Lee Bokjo from the Busan Metropolitan Council, as well as Jeon Hyunsook (Vice Chair) and Lee Chiwoo from the Gyeongnam Provincial Council.
The main budget for 2026 has been set at 45.2 billion won, an increase of about 17% compared to the previous year (38.6 billion won). The focus is on strengthening the competitiveness of investment attraction centered on core strategic industries and systematically supporting the sustainable growth of tenant companies, despite global economic uncertainties.
An additional 13.3 billion won in funding from Gyeongnam Province for infrastructure projects in 2026 is planned to be secured through a supplementary budget, bringing the total budget to 58.5 billion won. The additional funds will be allocated to four projects, including access roads for the Dudong and Ungdong districts.
In addition, to gain an edge amid fierce competition among global economic zones, the member contributions from both regions, which had been frozen for three years (2023-2025), have each been increased by 500 million won. This structural improvement, which previously limited project implementation due to the high proportion of essential expenses, now enables a more aggressive approach to project execution.
To strengthen investment attraction for core strategic projects, the authority plans to highlight its unique strengths and identify investment opportunities by targeting specific countries and sectors.
Major new initiatives include: △ overseas investment briefings for core strategic industries, △ domestic investment briefings for BJFEZ, and △ BJFEZ investment promotion familiarization tours (FAM Tours). Additionally, a new project will be launched to establish an investment attraction network by registering as a full member and engaging with the Korea Foreign Company Association and the Korea Association of Medium Enterprises.
A new e-commerce seller training program has also been introduced to help companies in the zone build practical skills in areas such as start-up, logistics, and delivery, enabling them to expand into overseas markets through e-commerce. Furthermore, to vitalize the local coffee industry, a new program will be launched to train integrated coffee and logistics specialists, covering everything from green coffee bean imports to domestic and international distribution systems. This is the first such initiative by the authority to lay the foundation for industry-linked investment attraction.
In terms of business support, a new industrial accident prevention interpretation app project for foreign workers has been introduced to overcome language barriers and strengthen workplace safety. The authority will also support a major accident safety management program to improve workplace safety and labor conditions for companies. In addition, close support programs such as ESG consulting and digital transformation support, as well as on-site business briefings, will be significantly expanded to help companies establish a stable management environment and enhance their competitiveness.
Park Sungho, Head of the Authority, emphasized, "As a global hub, the Busanjin-Hae Economic Free Zone Authority must prioritize investment attraction activities and business support to continue developing amid competition with domestic and international economic zones," adding, "We have focused the core project budget on these efforts."
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