Shin Jeonghoon Announces Vision for Integrated Gwangju: 20 Trillion Won Budget and 1 Trillion Won Fund Investment

Fostering 1,000 Youth Startups
Unveiling Seven Key Future Innovation Projects
Establishing a 1 Trillion Won Youth Startup and Challenge Fund
Creating 1,000 Youth Startups and 20,000 Jobs
Ensuring Fiscal Transparency Through the "Investment Council"

Shin Junghoon

Shin Jeonghoon, chairman of the National Assembly’s Public Administration and Security Committee and a Democratic Party candidate in the primary for Mayor of the Integrated Special City of Jeonnam-Gwangju, held a vision announcement on March 16 in the briefing room of the Gwangju Metropolitan Council. At the event, he unveiled his vision for the Gwangju region, which includes plans to utilize 20 trillion won in fiscal resources, create a 1 trillion won youth startup and challenge fund, and promote seven key innovation projects for the future of Gwangju.

On this day, candidate Shin stated, “A great transition will begin in Gwangju to open a new century for Jeonnam-Gwangju,” presenting the direction of the integrated special city as recovery of livelihoods, fostering future industries, and establishing a large-scale living zone.

In particular, highlighting his experience in Naju’s development through the creation of the Innovation City, relocation of Korea Electric Power Corporation, and the establishment of Korea Energy Engineering University, he said, “This has already been proven in Naju. A region can be transformed through strategy and execution,” indicating his intent to leverage this as the driving force for the successful establishment of the integrated special city.

Shin emphasized that approximately 20 trillion won in fiscal resources will be invested in the integrated special city over the next four years, clarifying that these funds will not be used for display projects but will be prioritized for supporting the livelihoods of local communities, including fishermen, small business owners, workers, and care workers.

He also stressed that the “Integrated Special City Investment Council,” in which citizens, experts, and local governments will all participate, will enhance the public nature and transparency of fiscal management.

As a youth policy, he proposed the creation of a 1 trillion won youth startup and challenge fund. By combining investments from the integrated special city, the government’s parent fund, and private venture capital, the fund will be linked to strategic industries such as AI, energy, cultural content, and biotechnology. The goal is to nurture 1,000 youth startups and create 20,000 jobs.

His vision is to transform Gwangju and Jeonnam from cities that young people leave into cities to which they return, and ultimately into a startup hub in the southern region that even attracts youth from other areas.

He also introduced a plan to develop the “Yeongsangang 300-ri Waterside Bicycle Path” to foster Yeongsangang River as a tourism and economic axis connecting Gwangju and Jeonnam. By combining a bicycle path stretching from Gwangju to Mokpo with stay-type tourism infrastructure, he aims to create a southern-style ecological tourism and regional economic model.

For the overall development strategy of Jeonnam-Gwangju Special City, he proposed a three-axis growth strategy for the Gwangju, eastern, and western regions. Centered on seven economic sectors—AI, energy, biotechnology, cultural tourism, agri-food, semiconductors, and advanced manufacturing—he aims to establish a new growth structure for the southern region of Korea.

As a pledge for the Gwangju region, he presented seven core future innovation projects.

Major points include: the creation of a robot, AI, autonomous driving, and advanced mobility industry campus centered on the relocated military airport site; the promotion of the Gwangjucheon and Yeongsangang Renaissance; establishment of culture, ecology, and gastronomy tourism platforms; development of a global e-sports and digital culture industry street in Chungjang-ro; fostering Gwangju as a youth startup hub city; transportation innovation centered on BRT; and creation of a digital and AI finance convergence complex special zone.

He also presented a strategy for linking the Gwangju region with surrounding areas. Shin announced plans to nurture Naju as an energy technology cluster; Hwasun as a biomedicine industry hub; Damyang as an eco-cultural tourism city; Jangseong as a data center and AI strategic base; Hampyeong as an RE100 data center and AI agri-industry hub; and Yeonggwang as a clean energy and future mobility industry center.

Shin stated, “When it becomes a city where you can travel anywhere within one hour, Gwangju and Jeonnam will become a single economic zone,” presenting his concept for a mega-scale living area spanning Jeonnam and Gwangju.

He added, “I will realize an integrated special city where industry, transportation, and daily life are all connected beyond the administrative boundaries of Gwangju and Jeonnam.”

He also emphasized, “As the person who designed the integration, I will ensure its success,” and “I will make sure that the changes starting in the Gwangju region lead to the growth of both Jeonnam and Gwangju as a whole, and develop Jeonnam-Gwangju Special City into the central city of the New Southern Economy.”

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