Gyeonggi Province Secures Record 5.5471 Trillion Won in National Government Funding

Gyeonggi Province announced on the 2nd that it has secured a record 5.5471 trillion won in national government funding.

According to the province, as the 2024 government budget passed through the National Assembly plenary session on the 1st, Gyeonggi Province secured 5.5471 trillion won in national funding, an increase of 934.3 billion won compared to the previous year and the largest amount in history.

The Metropolitan Rapid Transit (GTX), expansion of roads and main railway networks, the Pyeongtaek Goduk Industrial Complex, and DMZ tourism resource activation projects are among Gyeonggi Province's major priority projects that are mostly included, representing a significant qualitative achievement according to the province's explanation.

Breaking down the secured national funding, the Metropolitan Rapid Transit (GTX) first secured a total of 32.6 billion won, including 10 billion won for basic planning services for the Samseong-Dongtan section and 22.6 billion won for the Samseong-Dongtan section basic design and shared section construction costs.

Gyeonggi Province expects the GTX project promotion to gain further momentum with this national funding secured. The province predicted that once the preliminary feasibility study currently underway by the Ministry of Economy and Finance is completed, procedures such as basic planning and preliminary environmental review will proceed, leading to the GTX project being promoted as a full-scale state project.

Along with GTX, funding of 981.6 billion won for 19 railway line projects to address traffic congestion in the metropolitan area has also been secured. Beyond the 15 lines including the Yeoju Line (Seongnam-Yeoju) that were reflected in this government budget proposal, the budget for new lines—Indeokwon-Suwon, Wolgot-Pangyo, Gyeongwon Line (Dongducheon-Yeoncheon), and Yeoju-Wonju lines—were additionally secured during the National Assembly deliberation process.

615 billion won will be invested this year in infrastructure development for the Pyeongtaek Goduk Industrial Complex, where Samsung Electronics has confirmed its relocation. With this national funding secured, Gyeonggi Province sees the acceleration of Samsung Electronics' entry and the creation of an opportunity to generate over 30,000 jobs through industrial complex development.

In particular, the industrial water supply facility project costs—which had been problematic—will now be supported through both the regional special accounting and general accounting, enabling the Goduk Industrial Complex's foundational construction projects to proceed smoothly.

National funding of 845.5 billion won has also been secured to promote SOC (Social Overhead Capital) projects in northern Gyeonggi Province, which suffers from poor infrastructure due to development restrictions from overlapping regulations.

As a result, various road projects to address development and traffic congestion in northern Gyeonggi Province can continue, including the installation of Howon IC on the Outer Ring Expressway, the Guri-Pocheon private finance highway, the alternative bypass road for National Route 3, the Jori-Beobwon-Sangsu local road 56, the Jinjap Line, the Gyeongwon Line, the Gyeongui Line, and the Byeolnae Line.

An official from Gyeonggi Province stated, "This is a result of National Assembly members from Gyeonggi Province joining forces across party lines during the National Assembly budget deliberation process," and added, "We have created an opportunity to ignite a revolution in public transportation culture through early construction of railway networks such as GTX and to revitalize the people's economy through job creation."