Gimhae Sets Next Year's Budget at 2.8538 Trillion Won, Prioritizing Pledge Projects and Resident-Focused Areas

Gimhae City in South Gyeongsang Province has drawn up a 2027 main budget proposal totaling 2.5838 trillion won.

This is the first main budget since the launch of the ninth popularly elected administration. It is up 102.2 billion won from this year's 2.4816 trillion won.

The general account totals 2.1935 trillion won, an increase of 119.9 billion won (5.78%) from the previous year, while the special accounts total 390.3 billion won, a decrease of 17.7 billion won (4.34%).

Major revenue sources for the general account include 466.6 billion won in local tax revenue (21%), 91 billion won in non-tax revenue (4%), 452.4 billion won in local share taxes (21%), and 143.9 billion won in adjustment grants (7%).

Gimhae City Hall, Gyeongsangnam-do. [Photo provided by Gimhae City]

Taking fiscal soundness into account, the city budgeted 30 billion won in local bonds, down from 50 billion won this year.

On the expenditure side, the budget focuses on securing momentum for the ninth administration's campaign pledge projects under the goal of "12 Major Transformations of Gimhae," reviving the local economy and investing in areas closely tied to daily life that have a high impact on residents.

Major campaign pledge projects include 18.1 billion won to expand the issuance of Gimhae Love Gift Certificates; 5 billion won to develop Yulha Sports Park; 2.2 billion won to develop the Nakdong Sunset Water Leisure Sports Park; 3 billion won to build a public parking lot for large trucks; 1.83 billion won to establish an animal welfare center and an abandoned animal shelter; and 670 million won for the future vehicle transition and advancement project and the development of a post-processing ecosystem for power semiconductors.

By sector, the budget includes 969.3 billion won for social welfare; 64 billion won for the economy and industry; 191.7 billion won for transportation and logistics; 150.1 billion won for culture and tourism; 148 billion won for the environment; 129 billion won for agriculture, forestry and fisheries; 183.5 billion won for safety and public administration; 78.4 billion won for land and regional development; 38 billion won for health; and 16 billion won for education, including the development of local talent.

The city has also drawn up its second supplementary budget proposal for 2026. It totals 2.8824 trillion won, comprising 2.4334 trillion won for the general account and 449 billion won for the special accounts.

Following review and approval at the second regular session of the 284th City Council, the second supplementary budget for 2026 is expected to be finalized on December 3, 2026, and the 2027 main budget on December 21, 2026.

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