Gyeongsangbuk-do Gov. Lee Cheol-woo said the Gyeongsangbuk-do provincial government will concentrate on restoring the regional economy by attaching top priority to people’s livelihoods.
In his New Year’s message, Gov. Lee said, “Gyeongbuk will concentrate its all capabilities to restore people’s livelihood by front-loading 70 percent of this year’s budget in the first half.”
Gov. Lee said the Daegu-Gyeongbuk special local autonomous entity will be established with a focus on the transportation and tourism sectors, while robot, future car and bio collaboration projects will be implemented to build new growth engines for balanced national development.
The provincial government also plans to implement projects to actualize an airport-port economic sphere in the “two-port era” and the paradigm shift of the 4th Industrial Revolution, while stepping on the gas to nurture nuclear power, hydrogen and wind power energy economic spheres in the Pan-East Coast area in accordance with the ushering in of the carbon neutrality era, Gov. Lee said.
Gyeongsangbuk-do Gov. Lee Cheol-woo gets a business briefing from provincial government officials on this year’s major polices and pending issues at the provincial government in Andong on Jan. 10.
Government Allocating Largest Ever Budget of 10,017.5 billion won for Gyeongbuk
The National Assembly approved the national budget for the year 2022, including 10,017.5 trillion won for Gyeongbuk’s budget, the provincial government said on Jan. 3.
Government budget allocation of 10,017.5 billion won for Gyeongbuk was the largest one ever. Of the total, 5,433.5 billion won is set aside for state-recommended projects such as expressway and railway, and 4,584 billion won is allocated for a general subsidy.
Gyeongbuk’s state budget for this year represents a 3.1 percent rise over last year’s, which was set at 9,716.2 billion won.
The provincial government’s budget for state-recommend projects for this year increased 6.9 percent over last year’s set at 5,080.8 billion won.
The government’s allocation to the state budget for Gyeongbuk includes 3,333.7 billion won in the SOC sector, 424.4 billion won in the R&D sector and 1,349.8 billion won in the agro-fishery sector.
Gyeongbuk’s state budget allocation is coupled with building core social overhead capital and industry infrastructure in diverse areas to set up future growth engine foundation and budget for the R&D sector.
The government augmented 2 billion won for financing an expressway crossing Yeongil Bay, 500 million won for building an inland railway connecting Mungyeong and Gimcheon and 54.1 billion won for the Nambu Inland Railway Line. The government set aside 50 billion won for the new SOC budget to build Daegu’s first subway.
Gyeongbuk obtained 2 billion won for building a verification testing platform on artificial graphite, one of semiconductor and secondary battery raw materials, 2.25 billion won for building vehicle power chip infrastructure and 1.3 billion won for spent EV battery inline automation evaluation center as part of efforts to build foundation on investments in the advanced material industry sector.
