Chungnam Invests 682.4 Billion KRW in North-South Balanced Development Project

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province announced on the 4th that it will invest 682.4 billion KRW over the next five years to promote 85 projects under the ‘Regional Balanced Development Project (Phase 2, Stage 1).’

The Regional Balanced Development Project has been underway since 2008 in accordance with the ‘Chungnam Regional Balanced Development Support Ordinance.’ Phase 1 projects were conducted from 2008 until this year, targeting 198 districts, with a total investment of 1.0909 trillion KRW.

The upcoming Phase 2, Stage 1 projects will be implemented from next year through 2025. During this period, the province will promote projects proposed by the province such as the marine debris zero project and the expansion of Naraewon arboretum and facilities, while also advancing the construction of the Seocheon Aviation Security Equipment Testing and Certification Center as a national public contest project.

Competitive public contest projects by cities and counties include six projects: ▲Gongju Baekje Culture Starcation Development ▲Nonsan Smart Farm Complex Development ▲Geumsan Regional Food Industry Standardization Support System Establishment ▲Buyeo General Industrial Complex Development ▲Cheongyang Social Community Specialized Complex Development ▲Yesan Oriental Stork Eco-friendly Ecological Complex Development.

Autonomous projects by cities and counties were selected through joint workshops and expert consultations in various fields, and will be carried out in nine cities and counties: Gongju, Boryeong, Nonsan, Geumsan, Buyeo, Seocheon, Cheongyang, Taean, and Yesan.

Major projects include 76 selected projects such as ▲Gongju Complex Community Center Construction ▲Boryeong Automotive Tuning Industry Ecosystem Development ▲Nonsan Complex Cultural and Sports Center Development ▲Geumsan Integrated Care Welfare Village Development ▲Buyeo Culture, Arts, and Education Town Development ▲Seocheon Re-Fine Janghang Cultural Regeneration Vitalization Project ▲Cheongyang Complex Family Culture Center Construction ▲Taean Malliponia Marine Leisure Tourism Infrastructure Development ▲Yesan Urban Forest Complex Cultural Space Development.

Kim Ha-gyun, Director of the Planning and Coordination Office of the province, said, “While the northern part of Chungnam, adjacent to the metropolitan area, has concentrated population, industry, and enterprises, the southern region continues to experience population decline and relatively slow industrial growth. The province will support the budget for the Regional Balanced Development Project to secure regional growth engines and will do its best to ensure smooth project implementation in cooperation with cities and counties.”