Developed as a 'Metropolitan Economic Zone' in the South Coast... 20.5 Trillion Won Invested

Comprehensive Plan Confirmed for Next 10 Years' Blueprint
Guiding Growth as a New Tourism Hub in Northeast Asia
Fostering High-Value Industries in the 4th Industrial Revolution

[Asia Economy Reporter Moon Jiwon] A 'Comprehensive Development Plan for the Namhaean Region' has been prepared to transform the southern coast into a new tourism hub of Northeast Asia and a central area of the Pan-Pacific economic zone.

The Ministry of Land, Infrastructure and Transport announced on the 30th that at the 21st National Land Policy Committee meeting, the amendment to the 'Comprehensive Development Plan for the Namhaean Region,' which presents the long-term development direction of the southern coast until 2030, was reviewed and approved.

The newly amended comprehensive plan reflects issues such as regional imbalance, low birthrate and aging population, and regional industrial stagnation. The vision of the comprehensive plan is 'a Namhaean community of coexistence and prosperity,' with goals including becoming the 5th largest economic zone in Northeast Asia, forming a new national land growth axis, and achieving a two-hour integrated living zone.

First, the plan promotes regional tourism revitalization by utilizing the Namhaean region's excellent natural landscapes. It aims to activate marine leisure tourism and develop the Namhaean region's key industries into high value-added industries responding to the 4th Industrial Revolution to strengthen regional competitiveness.

Additionally, by massively expanding transportation infrastructure, the plan lays the foundation for the region to leap forward as the center of the Pan-Pacific economic zone. It plans to continuously expand transportation networks by installing metropolitan roads, railway networks, and national highways and expressways in the Namhaean region.

It also intends to promote the co-growth of the Namhaean region by actively utilizing the natural, historical, and artistic resources of the Seomjin River basin. Coastal scenic roads will be maintained, and idle facilities such as Namhae Bridge, Seomjin Railway Bridge, and closed schools will be used as tourism resources.

The total project cost according to this amended plan is 20.5495 trillion KRW. This amount excludes project costs for installing new infrastructure such as roads, railways, ports, and airports. It is expected to generate a production inducement effect of 45.7192 trillion KRW, a value-added inducement effect of 15.0591 trillion KRW, and create approximately 286,137 jobs.

Lee Byung-hoon, Planning Officer of the Ministry of Land, Infrastructure and Transport's East-West-South Coast and Inland Region Development Planning Division, said, "We hope the Namhaean region will establish itself as a new national land growth axis of the Republic of Korea," and added, "We plan to continuously discover new tasks through collaboration with the relevant local governments."

This content was produced with the assistance of AI translation services.