Daejeon and Chungnam Confirmed as Innovation Cities... Passed Balanced Development Committee Plenary Session

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The designation of innovation cities in Daejeon and Chungnam has been confirmed.

On the 8th, according to Daejeon City and Chungnam Province, the National Balanced Development Committee held a plenary session and deliberated and approved the proposal to designate innovation cities in Daejeon and Chungnam. Following the plenary session's approval, the Ministry of Land, Infrastructure and Transport will proceed with the designation process of innovation cities in Daejeon and Chungnam through an official gazette notification within this month.

With the designation as an innovation city, Daejeon plans to relocate public institutions and related private companies and research institutes, and create a national innovation cluster of industry-academia-research through cooperation with local universities.

In particular, the plan is to develop the old downtown area, including the station area, into an innovation city to revitalize the declining old city center and thereby resolve the east-west imbalance.

Chungnam plans to use the designation of the innovation city as an opportunity to restructure regional industry and spatial organization. The province aims to respond to the crisis in national key industries and usher in a renaissance era for manufacturing by linking with the Chungnam National Innovation Cluster.

Additionally, Chungnam has presented a blueprint to foster the southwestern region of the province as a new growth hub and lead a turning point in national balanced development centered on Chungnam.

Heo Tae-jung, mayor of Daejeon, said, “The designation of Daejeon as an innovation city is a great achievement made possible by the power of 1.5 million citizens,” and added, “We expect the designation of the innovation city to be a turning point where the region and citizens leap forward together.”

Yang Seung-jo, governor of Chungnam Province, stated, “We will strive to ensure that Chungnam can lead national balanced development through the designation of the innovation city,” and added, “To this end, the province will take the lead to ensure that the designation of Chungnam’s innovation city is completed not for regional interests but as a new vision for national balanced development.”