Gwangju is set to receive 2.2trillion won next year in its biggest national budget allocation ever. Exceeding 2 trillion won will mean that Gwangju can spend more on the 2019 Gwangju FINA Swimming Championship, job creation, eco-friendly cars, the 4th Industrial Revolution and related projects.
The final budget was 428.8 trillion won, 7.1 percent or 28.3 trillion won more than this year’s 400.5 trillion won.
Included in the total budget, the City of Gwangju has secured the budget of 2.2 trillion won, an increase from the initial proposal made by the Gwangju City Government, which was 2.1 trillion won.
It is expected to translate to billions more for one of Gwangju’s highest priorities; the budget for the preparation of the 2019 World Aquatics Championship has been increased from 19 billion won to 25 billion won.
In the budget, funding for various social overhead capitals, SOC projects has been reflected. The list includes the construction of the 2nd Gwangju beltway, Gwangju – Gangjin expressway and Gwangju – Daegu initial Inland Railway construction.