Chosun Biz
Jeong Min-ha
01 September 2026
MOLIT holds SOC outlays steady while trimming Gadeokdo airport funds amid execution delays and rising costs
The government set next year's social overhead capital (SOC) budget under the Ministry of Land, Infrastructure and Transport (MOLIT) at 21.1 trillion won, the same as this year. The ministry's overall budget rose 9.9%, but the SOC budget was frozen as projects with delayed execution and customary allocations were adjusted. The budget for the Gadeokdo New Airport, where site development work has been delayed, was cut 37% from this year.
According to the Ministry of Land, Infrastructure and Transport (MOLIT) on the 1st, the 2027 budget proposal for the ministry is 69 trillion won, up 9.9% from this year's main budget of 62.8 trillion won. Of that, the SOC budget for roads, railways and airports was set at 21.1 trillion won, the same as this year...
