GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU = Yonhap News) Gwangju confirmed a total of KRW 3.1573 trillion for its budget for 2014.

The city announced on January 1 that the National Assembly confirmed the city’s budget for 2014 as KRW 3.1573 trillion.

The budget scale was expanded by KRW 54.9 billion from the initial government budget proposal of KRW 3.124 trillion, and it is the biggest budget scale in the history of the city.

Budget for 47 new business projects is KRW 73.9 billion, and for 107 continuing business projects are KRW 3.834 trillion.

The projects include: development of one million automobile city (KRW one billion), establishment of dental technology and parts support center (KRW one billion), construction of Gwangju 2nd urban railway (KRW 5.2 billion), development of Asian food and culture district (KRW one billion), construction of Gwangju Pyeong-dong general business center (KRW 500 million), construction of Gwangju foreign worker support center (1.6 billion) and expansion work of expressway between Dong Gwangju IC and Gwangsan IC.

An official of Gwangju said that the mayor of Gwangju and local National Assembly members focused their effort to expand the budget scale during the National Assembly’s budget review.

shchon@yna.co.kr

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Jan. 1, 2014)

** This article was translated from the Korean.