Kaeho Lee Proposes National Pension Service Public Investment in Gwangju Military Airport Relocation

Overcoming Local Fiscal Limitations in National Projects: A Win-Win Model
"Aligned with Public Welfare... Securing Long-Term and Stable Returns"

Kaeho Lee, member of the Democratic Party of Korea.

Kaeho Lee, a member of the Democratic Party of Korea representing Damyang, Hampyeong, Yeonggwang, and Jangseong in South Jeolla Province, officially proposed public investment by the National Pension Service in the Gwangju military airport relocation project during the National Assembly audit of the National Pension Service on October 24, drawing significant attention.

Assemblyman Lee stated, "The relocation of the Gwangju military airport is a national task that will determine the next 100 years for the Honam region." He explained that if the National Pension Service participates as a long-term and stable investor, it could create a 'mutually beneficial model of public interest and profitability,' simultaneously revitalizing the local economy and securing returns for the pension fund.

Currently, the Gwangju military airport relocation is being pursued through a 'donation for compensation' model. However, Assemblyman Lee pointed out that local finances alone are insufficient to cover the enormous costs, highlighting the inefficiency of the current structure, which imposes an excessive financial burden on local governments despite the project's status as a large-scale national initiative.

Assemblyman Lee explained that the city of Gwangju and South Jeolla Province could fully guarantee the stability and profitability of National Pension Service investments through institutional mechanisms such as the issuance of local bonds. He presented a concrete vision in which the National Pension Service could secure stable, long-term returns by participating in the development of land for purchase and investment in infrastructure, while the region could achieve balanced development and renewed vitality through a virtuous cycle.

Assemblyman Lee emphasized that the National Pension Service is more than a simple financial institution, describing it as a 'public fund management institution' that invests the valuable retirement funds of the people in social value and future growth. He asserted that, in line with the National Pension Act’s principle of 'investment for public welfare,' the National Pension Service must take an active role in promoting balanced national development and expanding regional infrastructure.

He also pointed out that while the National Pension Service invests tens of trillions of won each year in offshore assets such as foreign securities, it remains relatively passive in contributing to balanced regional development within Korea. He urged, "We must create a turning point for public investment so that the people's money returns to the people and their regions."

Assemblyman Lee suggested, "Gwangju and South Jeolla Province have the optimal conditions to lead the 'pension-type public investment model,'" and recommended, "Starting with the Gwangju military airport relocation project, we should expand cases of regional public investment by the National Pension Service."

He further emphasized, "Opening up the future of the regions with the people's assets is precisely the reason for the existence of the National Pension Service," and stated that if the National Pension Service participates in the relocation of the Gwangju military airport, it will become a turning point for balanced national development.

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