Ulsan’s National Funding Surpasses KRW 3 Trillion for the First Time; All-Out Efforts Underway with Ruling and Opposition Lawmakers to Secure Increases

【Financial News Ulsan = Reporter Choi Su-sang】Ulsan-related national budget funding has surpassed KRW 3 trillion for the first time, but Ulsan Metropolitan City says it still needs more to foster future industries. The city is determined to make every effort to secure additional funding for projects not included in the proposal during the National Assembly’s review process.
According to Ulsan Metropolitan City on the 3rd, the 2027 government budget proposal includes KRW 3.0234 trillion for projects related to Ulsan, the largest amount ever and the first time the city has entered an “era of KRW 3 trillion in national funding.” The figure represents an 11.1% increase from last year and includes 61 new projects designed to drive future growth. The proposal is regarded as a major milestone in transforming the city’s industrial structure, as it lays the foundation for industrial AI transformation (AX), which applies artificial intelligence to traditional key industries.
However, inclusion in the government proposal is only the beginning. In line with the proposal’s submission to the National Assembly of the Republic of Korea, Ulsan Mayor Kim Sang-wook held a Budget Policy Consultation in Seoul the previous day with six local lawmakers from both ruling and opposition parties. The meeting was attended by Mayor Kim Sang-wook, Deputy Mayor for Economic Affairs Shin Min-sik, Senior Political Affairs Secretary Choi Hyeong-jun, and local lawmakers Kim Gi-hyeon, Park Seong-min, Yoon Jong-oh, Seo Beom-su, Kim Tae-gyu, and Kim Tae-seon.
At the meeting, Mayor Kim emphasized the need to secure an additional KRW 52.58 billion for 11 key projects that were either not included or only partially included in the government proposal during the National Assembly’s review. He said, "It is more important than anything else to secure the national budget needed by the region, from future industries to infrastructure closely connected to residents’ daily lives." Advancing the 11 key projects is essential to fully realize the significance of surpassing KRW 3 trillion in national funding.
The key projects include the construction of the National Industrial AI Transformation (AX) Demonstration Center, an industrial complex pilot unmanned automated factory, also known as a demonstration dark factory, the Bangudaecheon World Petroglyphs Center, a shipbuilding AX-specialized AI model house, and an access road to the general industrial complex in the Ulsan KTX station area. Many of these projects are considered crucial to the future of the region’s industries.
Kim Sang-wook, mayor of Ulsan Metropolitan City, said the city would maintain a strong cooperative system with the region’s political community and devote the full capacity of its administration to securing the additional funding needed through the final stages of the National Assembly’s review.
Meanwhile, the 2027 government budget proposal submitted to the National Assembly on the same day will be finalized at the end of this year after review by standing committees and the Special Committee on Budget and Accounts.
[email protected] Choi Su-sang Reporter