Breathing New Life into Communities... 21 Regional Development Projects Selected

Final Selected Projects for the 2020 Regional Development Public Contest (Provided by the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Chunhee Lee] The results of the regional development public contest project, which creates growth hubs in regions and fosters the tourism industry to revitalize local areas, have been announced. This year, a total of 21 projects were selected, receiving support amounting to 45 billion KRW.

On the 10th, the Ministry of Land, Infrastructure and Transport announced the final results of the '2020 Regional Development Public Contest Project.' This project has been promoted annually since 2015. It has contributed to discovering excellent projects needed by regions, enhancing regional vitality and residents' quality of life.

The contest projects are conducted in two types according to the purpose and content of the projects: 'Investment Leading Zones,' which discover and support strategic projects to foster regional growth hubs and activate private investment, and 'Regional Demand Customized Support Projects,' which support projects closely related to residents' daily lives within growth promotion areas.

This year, in preparation for domestic demand recovery after the COVID-19 pandemic and the concentration of population in the metropolitan area, the focus was on fostering practical growth hubs and tourism projects. Since May, through a three-stage evaluation (document review, final evaluation, and on-site evaluation) by an evaluation committee composed of private experts, a total of 21 projects were selected.

One project from Gimje-si, Jeonbuk, was selected for the Investment Leading Zone, which receives up to 10 billion KRW in support. For the Regional Demand Customized Support Projects, a total of 20 projects were selected from Samcheok-si and Yangyang-gun in Gangwon, Taebaek, Yeongju, Bonghwa-si, Yeongyang, and Sancheong-gun in Gyeongbuk, Hadong-gun in Gyeongnam, Gwangyang-si in Jeonnam, Sancheong-gun in Gyeongnam, Goesan and Okcheon-gun in Chungbuk, Gongju and Seocheon-si in Chungnam, Gimje-si, Jinan, and Muju-gun in Jeonbuk, and Gangjin, Haenam, and Wando-gun in Jeonnam.

The 'Special Vehicle Innovation Cluster Creation' project in Gimje-si, Jeonbuk, selected as an Investment Leading Zone, will receive a total project cost of 45 billion KRW, including 10 billion KRW in national funds, 15 billion KRW in local funds, and 20 billion KRW in private investment. Gimje-si, selected as an Investment Leading Zone, plans to establish a foundation by 2024 to foster the special construction machinery industry as a regional strategic industry in connection with the Baekgu Special Vehicle Industrial Complex (Phase 1 and 2).

The 20 projects selected for the Regional Demand Customized Support Projects will receive up to 2 billion KRW for elderly-friendly types and up to 2 billion KRW for general types.

The Ministry of Land, Infrastructure and Transport explained that the Regional Demand Customized Support Projects focused on selecting tourism projects that can increase the stay population, considering the recent increase in tourism demand and the continuous decrease in regional population.

In particular, projects such as the 'Gyeongjeon Culture Sharing Village' in Hadong-gun, Gyeongnam and Gwangyang-si, Jeonnam; the 'GEO FRIEND Exploration Tour' for linked tourism between Jinan and Muju-gun, Jeonbuk; and the 'Dasan-Gosan Theme Tourism Activation Project,' which creates Aejeolyang Park by storytelling Dasan and Yun Seondo in Gangjin and Haenam-gun, Jeonnam, are expected to contribute to domestic demand recovery and an increase in regional stay population after COVID-19 by providing various tourism conveniences based on the tourism resources of the two adjacent cities and counties.

Han Jeong-hee, Director of the Regional Policy Division at the Ministry of Land, Infrastructure and Transport, said, "Many projects utilizing excellent regional resources were discovered during this contest process," adding, "We will continue to support strengthening local government capabilities through consulting and joint training with local governments so that the selected projects can become a driving force for regional economic vitality and improving residents' quality of life."

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