The Ministry of Land, Infrastructure and Transport budget has been set at a record 62.4 trillion won. This is an increase of 7.3% (4.2 trillion won) from this year. A large budget will be invested in enhancing the safety of transportation networks such as aviation, railways, and roads, recovering the local construction market, and supplying public housing.
The Ministry of Land, Infrastructure and Transport noted on the 29th that the '2026 budget proposal' has been finalized at 62.4 trillion won, an increase of 4.2 trillion won from this year's main budget. Of the total budget, the government budget is 24.2 trillion won, and the fund is 38.2 trillion won. This represents a 6.7% and 7.8% increase compared to this year's main budget.
Looking at the institutional sector, the social overhead capital (SOC) budget is 20.8 trillion won. This is an increase of 1.3 trillion won (6.5%) from this year. The social welfare budget has increased to 41.6 trillion won, up 3 trillion won (7.8%) from this year.
By accounting, the budget is 24.2 trillion won, and the fund is 38.2 trillion won. The housing & urban fund has increased from 35.3955 trillion won this year to 38.1497 trillion won next year, reflecting a 7.8% expansion.
Looking by institutional sector, 8.5 trillion won has been allocated to major transportation network expansions, including the metropolitan area express railway (GTX), railway and road projects, and the construction of eight new airports, including the Gadeokdo new airport. A budget of 500 billion won has also been allocated for the purchase of unsold dwellings in local areas.
The Ministry of Land, Infrastructure and Transport has set the public housing budget for residential stability at 22.8 trillion won. This is an increase of 6.3 trillion won compared to this year's related budget of 16.5 trillion won. Through this, the ministry plans to supply a total of 194,000 units of public housing next year.
Investments in safety measures across transportation networks, including aviation, railways, and roads, have also been expanded. The budget for strengthening airport facility safety will dramatically increase from 22.4 billion won this year to 120.4 billion won next year. The railway safety budget will be expanded from 24 trillion won to 29 trillion won.
Enhancements to ground exploration equipment for preventing ground subsidence (sinkholes) and supporting local governments in ground exploration will also be strengthened. This budget will grow approximately tenfold from 1.5 billion won this year to 14.4 billion won next year.
In order to promote regional balanced development, the account allowing local governments to expand their budget formulation rights will increase from 800 billion won this year to 1.3 trillion won next year.