BUSAN — Busan has secured funding for major state projects including Gadeokdo New Airport and a new export-oriented research reactor, along with emerging industry programs in port artificial intelligence, naval vessel maintenance, repair and overhaul (MRO), and power semiconductors, accelerating its drive to fund a broad economic transformation.
The Busan Metropolitan Government said the 2027 government budget proposal announced by the Ministry of Planning and Budget on the 1st reflects a wide range of core projects under the city's ninth elected administration.
Most prominent are projects aimed at strengthening Busan's maritime and logistics competitiveness. The budget allocates 431.1 billion won ($311 million) for construction of Gadeokdo New Airport. Newly included items are 7.35 billion won for a demonstration project on autonomous port unloading equipment, 36.4 billion won for shipbuilding and shipping cooperation support, and 5 billion won to strengthen the global competitiveness of small and midsize shipbuilders in naval vessel MRO. Another 24.9 billion won will go toward building a seafood industry cluster.
Large sums were also set aside for emerging industries. The proposal includes 152.8 billion won for development and demonstration of a new export-oriented research reactor and 8.5 billion won for a heavy-ion accelerator. It also covers 2 billion won for technology development of large next-generation aircraft fuselages using domestically produced composite materials and 3.5 billion won for manufacturing infrastructure for compound semiconductors used in extreme and polar environments. A platform for clinical demonstration of advanced regenerative medicine received 3.1 billion won.
The city also secured funds for transportation networks and balanced urban development. The budget includes 16.35 billion won for construction of the Sasang-Hadan subway line, 25.95 billion won for Eomgung Bridge, 11.86 billion won for Seunghak Tunnel and 7 billion won for a road linking Busan Bridge and the Dongsam Innovation City. Urban regeneration projects in nine areas, including the Sujeong district, will receive 25.62 billion won.
Among projects with direct impact on residents, 10 billion won was allocated for construction of Busan Children's Hospital. The proposal also includes 2.1 billion won for smart senior centers based on personal data platforms and 1.89 billion won for development of a community-based health care platform using age tech. Another 2.3 billion won will go toward developing Mount Ami as a sunset viewing destination, and 1.9 billion won for replacing and maintaining eco-friendly vessels used for Nakdong River ecological tours.
The city plans to station a team at the National Assembly to press for increases in projects that need additional funding during the legislative budget review. The strategy is to protect allocations already in the government proposal while securing increases for local priority projects.
"Reflecting these projects in the government proposal is an important starting point for transforming Busan into a new growth engine for the country and for changing both industry and residents' daily lives," Mayor Jeon Jae-soo said. "We will secure the necessary projects and budgets through to the end of the National Assembly review."
