Chungcheongnam-do, South Korea – April 5, 2025 – Chungcheongnam-do Province announced on April 3rd a significant investment of ₩164.1 billion (approximately $121 million USD) aimed at fostering balanced development across seven southwestern cities and counties by the year 2030.
The province's Balanced Development Committee finalized the selection of 16 projects, totaling ₩164.1 billion, during a meeting held on March 31st at the provincial government office. These projects constitute the second phase of the second stage of the Regional Balanced Development Project, scheduled to run from 2026 to 2030.
This second round of selections focused on incorporating projects that were not included in the initial selection last year. The newly approved initiatives align with the project's core objectives, including the cultivation of new industries, revitalization of old downtown areas, and improvements to attract population and enhance the quality of life for residents.
The breakdown of confirmed projects by city and county (excluding Gongju, Nonsan, and Geumsan, which were part of the first selection) is as follows:
Boryeong: 3 projects, ₩36.6 billion (approx. $27 million USD)
Buyeo: 1 project, ₩9.3 billion (approx. $6.9 million USD)
Seocheon: 4 projects, ₩23.4 billion (approx. $17.3 million USD)
Cheongyang: 2 projects, ₩19.7 billion (approx. $14.5 million USD)
Hongseong: 2 projects, ₩29.6 billion (approx. $21.8 million USD)
Yesan: 3 projects, ₩33.5 billion (approx. $24.7 million USD)
Taean: 1 project, ₩12.0 billion (approx. $8.8 million USD)
Key projects highlighted include:
Boryeong: Establishment of an energy convergence and integration cluster (₩17.2 billion / approx. $12.7 million USD). This initiative aims to create a hub for renewable energy technologies and related industries, potentially attracting investment and creating jobs in the region.
Buyeo: Creation of the "Education Companion Maru" (₩9.3 billion / approx. $6.9 million USD). This project likely involves establishing an educational support center or community learning space to enhance educational opportunities for residents of Buyeo.
Seocheon: Fostering young farmers and establishing a smart agriculture hub (₩6.0 billion / approx. $4.4 million USD). This initiative seeks to support the next generation of agricultural professionals by providing training and resources in modern, technology-driven farming practices.
Cheongyang: Development of a "Young Chef Cultivation Center" (₩8.9 billion / approx. $6.6 million USD). This project aims to nurture culinary talent among young people in Cheongyang, potentially boosting the local food industry and tourism.
Hongseong: Creation of a regional cooperation hub in the Yongbongsan area (₩18.0 billion / approx. $13.3 million USD). This likely involves developing infrastructure and programs to promote collaboration and synergy among businesses and communities in the scenic Yongbongsan region, potentially focusing on tourism and local products.
Yesan: Establishment of a youth entrepreneurship support center at the Yeokjeon Market (₩8.3 billion / approx. $6.1 million USD). This initiative aims to revitalize the traditional market area by providing resources and mentorship for young entrepreneurs to start and grow their businesses.
Taean: Development of a food tourism industry hub (₩12.0 billion / approx. $8.8 million USD). Given Taean's coastal location and agricultural produce, this project likely focuses on enhancing culinary experiences for tourists and promoting local food specialties.
The province meticulously selected the 10 eligible cities and counties (Gongju, Boryeong, Nonsan, Geumsan, Buyeo, Seocheon, Cheongyang, Hongseong, Yesan, and Taean) by analyzing 17 indicators across seven key sectors: population, fiscal capacity and income, employment and industry, infrastructure, living environment, education and culture, and welfare. Project identification has been underway since the latter half of 2023.
In the first half of 2024, the province had already selected 10 provincial proposal projects worth ₩322.6 billion, 17 city/county competitive bidding projects totaling ₩244.1 billion, and the first round of 25 city/county autonomous projects amounting to ₩311.9 billion. This latest announcement brings the total investment in regional balanced development for the southwestern region to a substantial ₩1.0427 trillion (approx. $768 million USD) across various project categories.
Soh Myung-soo, Director of Chungcheongnam-do's Balanced Development Bureau, emphasized, "The second phase of the second stage of the Regional Balanced Development Project is designed to enhance the competitiveness of underdeveloped cities and counties. We will dedicate our efforts this year to ensuring the smooth progress of these projects, including the completion of development plans and preliminary administrative procedures."
This significant investment signals Chungcheongnam-do's strong commitment to addressing regional disparities and fostering sustainable growth across its southwestern territories. The diverse range of projects, focusing on strategic sectors like renewable energy, agriculture, tourism, and entrepreneurship, holds the potential to create a more vibrant and equitable future for the region's residents.
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