BUSAN — Busan has secured additional state funding after its strategic investment plan to counter population decline and regional extinction risks was recognized for its effectiveness.
The city said on the 12th that it earned an "excellent" grade in the Ministry of the Interior and Safety's investment plan review for the additional allocation of the 2026 metropolitan account of the Local Extinction Response Fund, securing an extra 3.4 billion won ($2.4 million).
The review covered 14 metropolitan cities and provinces, assessing the feasibility of each local government's project plans, how well they fit regional conditions and how closely individual projects were linked, with funds distributed on a differentiated basis. Busan scored highly for project designs that closely reflected local conditions and residents' needs.
For the review, the city built its plan around three pillars — generations and activity, youth and growth, and space and settlement — and highlighted tailored projects designed to maximize the impact of the funding.
The 3.4 billion won will go to a shared-generation campus project that will convert idle university facilities in Geumjeong District into a combined cultural and sports hub for all age groups, and to the Busan Youth First Career Connection Project, which assigns dedicated managers and offers step-by-step job training to help young adults settle in the region. The money will also support the Vacant Home Plus Dream project, which converts long-abandoned vacant homes in depopulating areas into creative spaces for artists and community facilities.
The city plans to maximize synergy by linking the new projects with existing programs funded by earlier allocations, including workation promotion, the fostering of young local creators and Busan's 365 open part-time daycare centers.
Mayor Jeon Jae-soo said the additional funding "is the result of recognition for a strategic response that draws on Busan's own regional strengths, including university cooperation, youth settlement and the regeneration of idle spaces."
"We will carry out the secured funding without setbacks to dramatically improve living conditions and build a city where every generation, from young adults to older residents, is happy," he said.