Preliminary Candidate Min Hyung-bae's Pledge to Attract a 'Social Economy Innovation Town'

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Min Hyung-bae, a preliminary candidate of the Democratic Party for the National Assembly election in Gwangsan-gu (Eul), Gwangju Metropolitan City, pledged to attract a ‘Social Economy Innovation Town.’

Candidate Min stated, “Gwangju is a city where the ‘Gwangju-type job,’ a new job model through social dialogue, is being promoted, and it is a city leading the social economy in both quantity and quality,” adding, “Gwangju must take on the central role of the regional innovation towns that will spread in the future, in other words, the role of the ‘town of towns.’”

He also said, “The social economy prioritizes social goals such as employment, community restoration, and regional vitality over profit,” and “It is natural and appropriate for a social economy innovation town to be established in Gwangju, a city characterized by democracy and human rights.”

He continued, “Since the Gwangju Social Economy Support Center is already located in Gwangsan-gu, Gwangsan-gu is the optimal location for the innovation town.”

Meanwhile, according to preliminary candidate Min Hyung-bae, the social economy innovation town is a project by the Ministry of Trade, Industry and Energy to establish bases such as technology innovation, startup support, and networking spaces tailored to the characteristics and conditions of non-capital region local governments. Considering the reality of industrial crisis areas, the government designated Gunsan and Changwon as innovation town regions last year and is supporting them.

The Ministry of Trade, Industry and Energy plans to invest half of the approximately 28 billion KRW required for design, construction, and equipment establishment for each innovation town as national funds.

Once the innovation town is established, it is expected to solve various regional problems through growth support via technological innovation, direct employment of local residents, increased sales of social enterprises, and revitalization of local communities.