Busan Metropolitan City has submitted a supplementary budget of 281.3 billion won ($200 million) to the city council, targeting economic recovery and improved public services to advance its vision as a "Global Hub City" and "City of Citizen Happiness."
The city announced on the 3rd that it submitted its first supplementary budget for the year to the city council on the 27th of last month. The supplementary budget represents a 1.6% increase over the original budget of 17.93 trillion won. Additional secured revenues, including confirmed ordinary local shared tax allocations, will be concentrated on stabilizing livelihoods and revitalizing the regional economy.
The city allocated 99.3 billion won toward becoming a "globally vibrant economic city." Specifically, 72.7 billion won will be invested in economic recovery and neighborhood commercial district revitalization. The local currency Dongbaekjeon will offer enhanced benefits through June, including a 10% cashback rate with a monthly limit of 500,000 won. Two additional Onnuri gift certificate refund events will be held at 100 traditional markets. Policy funds totaling 668 billion won will be additionally supplied to small and medium enterprises and small business owners, with expanded interest subsidies to reduce financial burdens.
Some 26.6 billion won was allocated for urban vitality enhancement. The measures aim to boost industrial competitiveness through future mobility production facility investment support and strengthened overseas marketing for SMEs. The city will also promote the "Visit Busan Pass" to encourage repeat visits by foreign tourists and introduce trolley-style city tour buses in the original downtown area. Tourism and MICE demand will be expanded through hosting an international marathon, a maritime mobility and safety expo, and the Global Busan Design Fair.
For realizing a "City of Citizen Happiness with convenient daily life," 95.8 billion won was allocated. First, 52.4 billion won will be invested in improving tangible services and strengthening health and safety infrastructure. The "Everyone's Card" flat-rate program will refund public transportation costs exceeding 55,000 won monthly, while toll-free passage on Eulsukdo Bridge and Sanseong Tunnel during commuting hours will continue. Youth rental deposit loan interest support will shift to year-round applications, adding 400 beneficiaries.
In healthcare and safety, maternal and newborn health management support will expand to 9,000 recipients, and one additional Dalbit Children's Hospital will be designated. Natural disaster risk areas and flood-prone residential zones will be improved, along with expanded experiential safety education infrastructure.
Some 43.4 billion won was allocated for expanding leisure facilities. This includes expanded sports classes for seniors aged 65 and older, renovations of 10 public athletic facilities, and acquisition of The Park Zoo within Busan Children's Grand Park. Hwamyeong Outdoor Swimming Pool will be transformed into a year-round multipurpose leisure facility.
In conjunction with Geumjeongsan's designation as a national park, a master plan will be established for reorganizing the Geumgang Park area. Urban environments will be improved through public design enhancements in Haeundae's special tourist zone and urban forest development at Haeundae Arboretum. Cultural opportunities will also be expanded through support for regional representative arts organizations in the performing arts sector.
If the supplementary budget passes the city council, it is expected to serve as a catalyst for invigorating the regional economy amid the economic slowdown while accelerating citizen-oriented policies.
Mayor Park Hyung-jun said, "We will deploy the additional secured funds quickly and effectively to promote economic recovery and improve citizens' quality of life." He added, "I hope this supplementary budget serves as a stepping stone to completing the 8th popularly elected administration's vision of a 'Global Hub City' and 'City of Citizen Happiness.'"