Busan City has prepared a budget plan for next year that includes a project to pay 10 million won when the first child is born.
The city announced on the 9th that it will compile a 2027 budget of 19.3513 trillion won, an increase of 1.4202 trillion won (7.9%) compared to this year, and submit it to the city council on the 11th.
In the Citizen Happiness City sector, which increased KRW 592.8 billion from this year, KRW 33 billion was allocated to the 'Child Welfare Support Fund', which provides 10 million won for the first child born after July 1 next year, 12 million won for the second child, and 15 million won for the third child. It is separate from the maternity support paid by local governments.
To create a city that is good for raising children, 34.1 billion won will be invested to improve the teacher-child ratio in daycare centers. A new 13.3 billion won was allocated to the basic children's allowance of 200,000 won per month (300,000 won for home care).
The budget for the maritime and water sector, a pledge of Mayor Jeon Jae-soo, is KRW 1.089 trillion, a 30.7% increase from last year.
Seven items, including a relocation settlement fee of 2 million won per person, are provided to employees of shipping companies and their accompanying families relocating to Busan. KRW 37.7 billion and KRW 34.3 billion were allocated as subsidies for attracting companies and local investment promotion.
Construction of a complex dome arena will be carried out on the landmark site of the North Port, and pilot opera and ballet performances will be promoted in preparation for the opening of the opera house.
We will also support eco-friendly fuel costs for shipping companies piloting the Northern Sea Route (KRW 500 million), establish development plans for the International Logistics Promotion Zone and Gadeokdo Airport Complex (KRW 500 million each), and review the feasibility of building a Busan Express Train (TRX) (KRW 700 million).
A project to build the infrastructure of Busan, which is emerging as a world-class tourist city, is also being promoted.
The cost of the tourism acceptance posture improvement project will be significantly increased from KRW 100 million this year to KRW 12 billion next year, and will also support the creation of a global gateway tourism base (KRW 1.8 billion), support for facility improvement at lodging facilities in Western Busan (KRW 1.6 billion), and a global special tourism zone development project (KRW 2 billion).
6.5 billion won will be spent to expand special exhibitions at the city art museum and the modern art museum.
We will accelerate the transition to artificial intelligence (AI) in local industries and focus on expanding AI services that can be experienced by citizens.
Busan City will establish a detailed implementation plan for the creation of the K-Ocean AI Belt and lay the foundation for the physical AI transformation of Busan Port.
To this end, 2.6 billion won was allocated to Myeongji Noksan Ecomarine's specialized artificial intelligence conversion (AX) demonstration industrial complex and 2.1 billion won to Myeongji Noksan Edge AI Data Demonstration Center.
We will create a youth AI hub to promote AI utilization education and expand AI regional expansion support projects to promote the discovery and verification of AI services that can be experienced by citizens.
In the sports city sector, where 237.6 billion won will be invested, 8 billion won will be invested in a project to support the expansion of sports facilities, 600 million won will be invested in creating bicycle and walking paths from Yangsan to Gadeok and Dadaepo, and 1.9 billion won will be invested in operating an integrated reservation system for the park golf course along the Nakdong River.
In the field of innovative economic cities, youth policies will be promoted, including KRW 26.1 billion for a first career guarantee system that provides one-year employment experience at public institutions and private companies to 1,000 unemployed young people, KRW 2.5 billion for monthly rent support for youth, KRW 18.7 billion for support for youth asset formation, and KRW 1.5 billion for the operation of a youth future talent school.
Mayor Jeon Jae-soo said, "Next year's budget is the first step in initiating a major transformation in the future of Busan, the maritime capital, and we have tried to faithfully include key projects that will enable citizens to experience changes and achievements in city administration."
