Gyeonggi Province Secures Record 11.0625 Trillion Won in National Budget for Next Year

Gyeonggi Province has secured a record 11.0625 trillion won in national budget for next year.

The national budget for 2016 confirmed by the National Assembly on the 3rd allocates 11.0625 trillion won to Gyeonggi Province.

This represents an increase of 423.4 billion won (4%) compared to last year's 10.6391 trillion won, which marked the first time the province surpassed the 10 trillion won threshold in national budget allocation.

This amount also exceeds the initial government budget proposal of 9.4112 trillion won for next year by an additional 1.6513 trillion won.

During the National Assembly's budget review process, several projects received additional allocations of 2 billion to 5.5 billion won each: the Dongducheon-Yeoncheon Double-Track Railway (6 billion won), Byeolnae Line Double-Track Railway (7.05 billion won), Sangpae-Cheongsan Road Construction (2.21 billion won), Samga-Daechon Road Construction (3.91 billion won), Jongok-Youngjung Road Construction (2.92 billion won), Todang-Wendang Road Construction (1.47 billion won), and Gongdo-Daeduck Road Construction (0.33 billion won).

By major sector, 2.9686 trillion won in national budget has been confirmed for 57 social overhead capital (SOC) projects, including the Sangpae-Cheongsan road opening and the Samsung-Dongtan Metropolitan Rapid Railway.

For job creation, 114.8 billion won has been secured for 15 projects, including 1.4 billion won for aging industrial complex regeneration, 9.34 billion won for Pyeongtaek Goduk Industrial Complex infrastructure construction, 1.4 billion won for Pangyo Creative Valley, and 0.12 billion won for Gyeonggi Northern Polytechnic University.

An additional 0.38 billion won has been allocated for renewable energy support and regional energy projects.

For safety and disaster prevention, 31 projects totaling 27.03 billion won have been budgeted, including 0.4 billion won for children's protection zone improvement, 1.74 billion won for police facility expansion, 11.12 billion won for river maintenance in flood-prone areas, and 2.56 billion won for hazardous area management.

To date, Gyeonggi Province has made active efforts to secure national budget for next year, including Governor Nam Kyung-pil's visit to the Ministry of Strategy and Finance in August, followed by consecutive budget policy consultations with the Saenuri Party and the New Politics Alliance for Democracy.