Busan to Be Fostered as a Maritime Capital... City’s Key Projects Included in Government Budget Proposal

[Financial News] Government funding will now be fully directed toward a range of projects aimed at developing Busan, Korea's Maritime Capital.
Busan Metropolitan City Government said on the 1st that major projects to realize Busan, Korea's Maritime Capital were widely reflected in the 2027 government budget proposal announced by the Ministry of Planning and Budget.
The proposal broadly includes projects designed to achieve the four major city goals of the 9th elected administration: Busan, Korea's Maritime Capital, an innovative economic city, a balanced growth city, and a city of citizen happiness.
First, to complete its vision as a maritime capital, the budget includes 431.1 billion won for the Gadeok Island New Airport construction project, which will serve as a gateway to the southern region and a logistics hub.
New allocations also include 7.3 billion won for a demonstration project to convert port autonomous cargo-handling equipment to Embodied AI at the Port of Busan, and 3.6 billion won for a shipbuilding and shipping win-win cooperation support project.
The budget also includes 5 billion won for a project to strengthen global competitiveness in maintenance, repair and overhaul for small and medium-sized shipyard naval vessels, as well as 24.9 billion won for a project to build a fisheries food industry cluster.
For the innovative economy sector, 2 billion won was allocated for the development of large fuselage technology for next-generation aircraft based on domestically produced composite materials, and 3.5 billion won for building manufacturing infrastructure for compound semiconductors used in extreme and polar environments.
The government also plans to move ahead with 152.8 billion won for the development and demonstration of a new export-oriented research reactor, 8.5 billion won for support to build a heavy-ion accelerator, and 3.1 billion won for support to establish a clinical demonstration platform for advanced regenerative medicine.
In the balanced growth city category, the budget includes 16.3 billion won for construction of the Sasang–Hadan Line of the urban railway, 25.9 billion won for the Eomgung Bridge, 11.8 billion won for the Seunghak Tunnel, 7 billion won for road construction connecting Busan Bridge and Dongsam Innovation City, and 25.6 billion won for urban regeneration projects in nine areas, including the Sujeong district.
Projects aimed at creating a city of citizen happiness include 10 billion won for building a Busan children's hospital, 2.1 billion won for smart senior centers, 1.8 billion won for developing a community-based health care platform, 2.3 billion won for turning Amisan into a scenic sunset tourism landmark, and 1.9 billion won for replacing and maintaining eco-friendly vessels for the Nakdong River ecological tour boat service.
The city also plans to actively make the case for national funding during the National Assembly's budget review process and strengthen its coordination with lawmakers.
It will also operate a permanent task force at the National Assembly in line with the budget review schedule, protect the funding secured in the government proposal until the review concludes at the end of the year, and work to ensure that projects requiring additional increases are reflected in the parliamentary deliberations.
Chun Jae-soo said, "The inclusion in this government proposal is an important starting point for transforming Busan into a new growth engine for Korea and for changing both the city's industries and the daily lives of its citizens." He added, "We will secure the additional projects and funding needed during the National Assembly review process and complete Busan, Korea's Maritime Capital."

[email protected] Kwon Byung-seok Reporter