Chungcheongbuk-do held the kickoff meeting for the "Regional Revitalization Investment Fund" Task Force at the provincial office on the 10th, presided over by Vice Governor for Economic Affairs Lee Bok-won, marking the official launch of its activities.

The newly formed TF aims to expand the utilization of funds for private investment projects across the province. Centered around the Investment Attraction Division, it brings together six specialized departments, including Energy, AI Strategy, Tourism, Smart Agriculture, Livestock and Fisheries, and Balanced Development. The meeting brought together some 20 participants, including officials from the TF departments, project managers from Jecheon City and Boeun County, as well as representatives from the Regional Revitalization Investment Development Institute and the master fund management company.

The Regional Revitalization Investment Fund is a system designed to attract private investment using government-funded master funds as a catalyst, executing large-scale regional projects through Project Financing (PF). Through this TF, the province plans to systematically manage previously identified projects while accelerating the discovery of new initiatives eligible for the fund.

The meeting proceeded with a fund briefing followed by project discussions. First, the Regional Revitalization Investment Development Institute and the master fund manager explained the fund's structure, procedures, and shared actual operating cases.

Subsequently, the province and municipalities shared the current status of fund-utilized projects identified so far. Based on consulting feedback from the roadshow held on the 29th of last month, participants discussed concrete ways to refine each project, such as supplementing business plans and resolving critical prerequisites.

In his opening remarks, Vice Governor Lee Bok-won noted, "Unlike fiscal projects, fund-driven projects rely heavily on profitability and business structure for success." He urged, "Departments and local governments must collaborate without silos, and the development institute and management company should provide practical advice tailored to field realities."

He added, "The province will spare no administrative support, including streamlining permits and regulatory improvements. I hope today's meeting serves as a practical forum to establish concrete next steps for each project."

Reflecting the consulting results and the discussions from the meeting, Chungcheongbuk-do plans to actively devise solutions for project bottlenecks. Moving forward, the province will hold regular quarterly TF meetings to monitor progress while continuously discovering new projects.

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