Ulsan City Opens the 3 Trillion Won Era... 61 New Future Growth Projects Included

Increase of 303 Billion Won from Last Year’s Proposal

61 New Projects with 260.6 Billion Won Focused on Future Industries

Ulsan City has secured 3.0234 trillion won in the government's proposed national budget for 2027, boosting prospects for the development of future industries and the advancement of key local initiatives.

Ulsan City announced on the first of the month that a total of 3.0234 trillion won related to local projects has been included in the 2027 government budget proposal. This represents an increase of 303 billion won (11.1%) compared to the 2.7204 trillion won allocated in last year's government proposal.

Particularly notable is the inclusion of a large number of new projects aimed at securing future growth engines and enhancing industrial competitiveness. The government’s budget proposal for next year includes 61 new projects in Ulsan, totaling 260.6 billion won, targeting the city’s future development.

Major new projects include support for the Ulsan-Gwangju humanoid-based automotive industry manufacturing artificial intelligence transition (M.AX), as well as the ▲Ultra-large industrial artificial intelligence (AI) research support project, ▲establishment of a support center for AI-based ship equipment and advanced component demonstration, ▲demonstration of hydrogen-based medium and large excavators applying solid-state hydrogen storage alloys, and ▲creation of facilities for the promotion of the disaster safety industry in response to heat waves.

This budget proposal is regarded as targeting both industrial transformation and the securing of new growth engines, since it includes projects that integrate artificial intelligence into Ulsan’s core industries such as automobiles, shipbuilding, and hydrogen, while simultaneously expanding the foundations for new high-tech industries.

Continued projects also lay the groundwork for advancing major local initiatives.

These include budget allocations for ▲construction of the Ulsan Outer Ring Expressway, ▲construction of the Nongso-Oedong National Road, ▲establishment of the Ulsan Petrochemical Artificial Intelligence Transition (AX) Demonstration Industrial Complex project, and ▲maintenance of Gyeongsangjwa-do Byeongyeongseong Fortress in Ulsan.

Accordingly, Ulsan City expects to secure stable progress in local key projects such as expanding the transportation network, strengthening industrial competitiveness, and maintaining historical and cultural resources.

This achievement resulted from Ulsan City’s comprehensive efforts to secure government funding, ranging from discovering new projects to ensuring support for ongoing local priorities.

Ulsan Mayor Kim Sangwook and city officials communicated the necessity of local priority projects through meetings with the Minister of the Ministry of Strategy and Finance and visits to the Presidential Office. They also focused administrative efforts on securing national funding by consecutively holding meetings on securing the 2027 national budget for key roads and railways, and urgent meetings to identify large-scale national budget projects.

Collaboration with political circles also contributed to these outcomes. Ulsan City has established close cooperative systems with local National Assembly members of both ruling and opposition parties, working together to ensure the inclusion of local priorities and future industry projects in the government’s budget proposal.

Ulsan City plans to shift to a parliamentary response system from September 3, when the government’s budget proposal is submitted to the National Assembly.

The city intends to select projects not fully reflected or omitted from the government’s proposal that require budget increases by the National Assembly, and will hold budget policy consultations with local National Assembly members and maintain a permanent presence within the Assembly to secure additional funding.

Ulsan Mayor Kim Sangwook said, “We have dedicated the city’s full administrative resources to ensure that key projects supporting Ulsan’s future growth and quality of life for its citizens are included in the 2027 government budget proposal,” adding, “We will not simply stop at the government’s proposal but will continue to work closely with the local political sector throughout the parliamentary review process to secure additional funding for projects that have been omitted or only partially included, doing our utmost until the end.”

The government budget proposal for 2027 will be submitted to the National Assembly by September 3 and is expected to be finalized by the end of the year following parliamentary review.

Ulsan City Hall.

This content was produced with the assistance of AI translation services.