Heo Taejeong Pledges to Create 1 Trillion Won Daejeon-Style Citizens’ Growth Fund

Four Core Strategies and Seven Key Pledges for Economic Paradigm Shift

Democratic Party candidate for Daejeon Mayor Huh Taejung (Photo by Mo Seokbong)

Heo Taejeong, the Democratic Party candidate for Daejeon Mayor, held a press conference at his campaign headquarters on the 19th, announcing, "I will transform Daejeon into the center of Korea’s advanced economy by reinventing the Daedeok Special Zone, establishing AI demonstration infrastructure, and creating a 1 trillion won Citizens’ Growth Fund."

Heo presented four core strategies and seven key pledges to shift the paradigm of Daejeon’s economy, with goals to achieve an economic scale of 75 trillion won and create 100,000 quality jobs during his term.

The vision of "Daejeon, the Center of Korea's Advanced Economy" goes beyond piecemeal industrial support and is evaluated as an integrated growth strategy that differentiates itself from previous sector-specific policies by designing a virtuous economic cycle—connecting research, industry, job creation, and citizens’ income.

Heo emphasized, "Although Daejeon possesses world-class research capabilities, these outcomes have not sufficiently translated into citizens’ quality of life or regional economic growth. It is now time to move beyond being just a research city, and transform into an advanced industrial economic city where technology leads to corporate management, companies create jobs, and this ultimately increases citizens’ income."

Referring to initiatives from the 7th popularly elected administration such as the designation of the Biomedical Regulation-Free Special Zone, the establishment of the Bio ICT Convergence Innovation Cluster, and the creation of Startup Park and TIPS Town, he explained, "The foundation for deep-tech industries is already in place."

The four core strategies are: ▲ Transforming from a research city into an advanced industrial city (reinventing the Daedeok Research and Development Special Zone and amending the relevant Special Zone Act) ▲ Shifting from an individual growth industrial structure to a mutually growing and scaling up industrial structure ▲ Transitioning from a service-centered economy to a future-oriented advanced manufacturing-centered economy ▲ Establishing Daejeon as Korea’s hub for AI demonstration infrastructure.

The seven key pledges include: ▲ Establishing a large-scale GPU data center ▲ Creating a mayoral AI strategic task force and nurturing AI talent ▲ Building a distributed energy smart power grid ▲ Normalizing the Ansan Defense Industrial Complex based on AI and building a Defense AI and Semiconductor Cluster ▲ Fostering the advanced sensor industry based on public foundries ▲ Creating a medical and biotech innovation cluster ▲ Raising a 1 trillion won Daejeon-style Citizens’ Growth Fund to foster a global startup and business city.

Regarding the creation of a global startup and business city, Heo pledged to nurture 30 prospective unicorn companies, foster 2,000 advanced venture companies, and achieve 1,000 technology commercialization cases.

As key performance indicators for his term, he proposed: ▲ Achieving an economic scale of 75 trillion won ▲ Creating 100,000 quality jobs ▲ Achieving a per capita gross regional product of 50 million won ▲ Achieving a per capita citizen income of 35 million won.

Heo stated, "I will build a city where Daejeon’s achievements directly translate into citizens’ income and the future of our youth. Daejeon will become Korea’s top growth city, and I promise to bring about clear changes during my term."

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