# Busan Proposes 19.35 Trillion Won Budget Focused on Growth and Welfare The 2027 budget plan increases spending by 7.9% to support infrastructure and families. - **Source:** [Maeil Business](https://www.mk.co.kr) - **Published:** 2026-11-09 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/d9e6a8a2-5740-4ce1-990b-d1435d729992 ## Budget Expansion Strategy Busan Mayor Jeon Jae-soo announced a 19.35 trillion won budget for 2027, marking a 1.42 trillion won increase from 2026. This 7.9% rise aims to stabilize financial operations while funding key urban development projects. The proposal will be officially submitted to the Busan City Council on November 11 for review. ## Four Strategic Pillars The budget is structured around four core pillars: maritime capital, innovative economy, balanced growth, and citizen happiness. These categories prioritize long-term urban transformation and social welfare. By allocating resources into these specific sectors, the city aims to foster a sustainable environment for both economic investment and improved quality of life. ## Maritime Infrastructure Investment The maritime sector receives 1.01 trillion won, a 30.7% increase from the previous year. Funds are earmarked for a complex dome arena feasibility study at the North Port and eco-friendly fuel subsidies for Arctic route pilot voyages. Additionally, the city will provide 2 million won in relocation grants for shipping company employees. ## Boosting Tourism Capacity Busan is aggressively scaling its tourism infrastructure, increasing the budget for tourism reception improvements from 100 million won to 12 billion won. This significant jump supports facility upgrades for West Busan accommodations and expands exhibitions at the City and Modern Art Museums, aiming to accommodate the city's target of 5 million foreign visitors. ## Youth Employment Initiatives To foster an innovative economy, the city is investing 1.003 trillion won into youth career support programs. These initiatives are divided into public and private sectors, receiving 8.4 billion won and 17.7 billion won respectively. These measures are designed to ensure stable career entry points for young residents entering the local workforce. ## Integrated Public Transit Balanced growth efforts include allocating 200 billion won to unify the Dongbaek Pass and K-Pass into a single Busan-style integrated public transport pass by May. This consolidation aims to simplify commuting for residents, reflecting the city’s broader commitment to improving urban connectivity and accessibility across its diverse geographic districts and sectors. ## Childbirth and Family Support The city is prioritizing demographic stability with a 9.05 trillion won allocation for citizen happiness. This includes 330 billion won for 'Child Welcome' subsidies, providing 10 million won for the first child, 12 million won for the second, and 15 million won for the third, alongside 118 billion won for marriage support grants. ## Future Financial Outlook Mayor Jeon emphasized that the budget reflects current economic trends and revenue conditions to ensure fiscal stability. By focusing on tangible outcomes like childbirth support and infrastructure, the city aims to maximize the impact of every won spent. The council's cooperation is now essential to finalize these ambitious urban development plans. ## Sources covering this story - [Source — Busan Proposes 19.35 Trillion Won Budget for 2027](https://www.mk.co.kr/news/society/12202530) - [Kyunghyang — Busan Unveils 19 Trillion Won Budget Featuring New Childbirth Subsidies](https://www.khan.co.kr/article/202611091545001/?utm_source=khan_rss&utm_medium=rss&utm_campaign=total_news) --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._