Gyeongbuk Province Invests 23 Trillion Won in Daegu-Gyeongbuk Integrated New Airport... "A Representative Model of the Korean New Deal"

Government Announces '3+1 Comprehensive Plan' Adding Safety Net Strengthening and Integrated New Airport to New Deal
164 Projects with 12 Trillion Investment (Excluding New Airport) ... Creating 75,000 Jobs

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Gyeongsangbuk-do announced a 'Gyeongbuk-type New Deal 3+1 Comprehensive Plan' with three pillars: 'Digital New Deal,' 'Green New Deal,' and 'Strengthening Safety Nets,' including the construction of an integrated new airport, as a proactive response to the government's Korean New Deal policy direction on the 6th.

According to this plan, a total of 12.39 trillion KRW (35.3956 trillion KRW including the integrated new airport construction project cost) will be invested in 164 projects by 2025, expecting to create 75,000 jobs.

The 10 major priority projects of the Gyeongbuk-type New Deal include ▲(AI) fostering the active smart living care industry (2021?2027, 500 billion KRW) ▲establishing a 5G-based convergence industry cluster (2019?2025, 100 billion KRW) ▲(Data) creating an accelerator data utilization open infrastructure (2021?2025, 270 billion KRW) ▲(Electric vehicle) high-performance secondary battery technology development project based on safety and reliability (2022?2028, 540.5 billion KRW) ▲(Hydrogen) establishing a hydrogen fuel cell power generation cluster (2020?2025, 242.7 billion KRW), among others.

Additionally, ▲(Renewable energy) establishing an energy industry convergence complex (2020?2025, 1.0312 trillion KRW) ▲(Startup) creating a Gyeongbuk-type youth startup special zone (2020?2023, 20 billion KRW) ▲(Venture) Gyeongbuk-type special job model (Pohang Venture Valley) (2021?2025, 100 billion KRW) ▲Gyeongbuk-type smart talent training project for 10,000 people (2020?2025, 136.2 billion KRW) ▲construction of the integrated new airport and related SOC (social overhead capital) (2020?2028, 23.0056 trillion KRW) are also included.

The Gyeongbuk Province will promote a creative Gyeongbuk-type New Deal project by adding 'Strengthening Safety Nets' and the 'Integrated New Airport Construction Project' to the government's core New Deal policies of 'Digital New Deal' and 'Green New Deal.' Among these, a massive investment of 23.0056 trillion KRW will be made in the construction of the integrated new airport and related SOC (social overhead capital).

The Daegu-Gyeongbuk Integrated New Airport, finally selected on August 28, is a core pillar of the Gyeongbuk-type New Deal project and a representative project of Korea's New Deal after the COVID-19 pandemic, with 9.27 trillion KRW allocated for new airport construction and 13.7356 trillion KRW for related SOC construction.

The Daegu-Gyeongbuk Integrated New Airport is expected by Gyeongsangbuk-do to absorb air logistics for Daegu and Gyeongbuk currently handled by existing airports such as Incheon Airport, thereby strengthening regional industrial competitiveness and significantly contributing to attracting businesses and revitalizing tourism. Gyeongsangbuk-do estimates airport demand will reach 10 million passengers by 2050 and plans to enhance airport accessibility by constructing runways over 3,200 meters long and building three railway lines and three highway routes to attract medium- and long-distance routes.

Governor Lee Cheol-woo emphasized, "The post-COVID era will be determined by creative ideas and bold, leading policy responses for the region's future," adding, "Going forward, through the Gyeongbuk-type New Deal, we will successfully construct the integrated new airport and become a leading region in digital and green industries, creating new jobs and revitalizing the local economy."

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