Rep. An Ho-young Introduces the 'Jeonbuk Saemangeum Special Self-Governing Province Act' as Main Sponsor

Separate Account Established in the Special Fund for National Balanced Development... Designation of Saemangeum Investment Promotion Zone and Free Trade Area Also Possible

[Wanju=Asia Economy Honam Reporting Headquarters, Reporter Kim Han-ho] Ahn Ho-young, a member of the Democratic Party of Korea and National Assemblyman for Wanju, Jinan, Muju, and Jangsu, who declared his candidacy for Governor of Jeonbuk Province, on the 12th, officially proposed the "Special Act on the Establishment of Jeonbuk Saemangeum Special Autonomous Province and Designation of Saemangeum Economic Free Special Zone (hereinafter Jeonbuk Saemangeum Special Autonomous Province Act)" to guarantee high-level autonomy for Jeonbuk Province and promote balanced development and economic growth.

The bill stipulates the establishment of the Jeonbuk Saemangeum Special Autonomous Province, which guarantees high-level autonomy by leveraging the regional and economic characteristics of Jeonbuk Province, and ensures that additional ordinary local allocation tax and local education finance grants can be secured over the next 10 years.

Additionally, it mandates the installation of a separate account in the National Balanced Development Special Account to provide support and allows the creation of a separate development fund for regional development.

Furthermore, to expedite the development of Saemangeum, the bill grants the governor the authority to designate Saemangeum as an investment promotion district and establish a free trade zone, and includes provisions to offer tax and other relief benefits to investors and resident companies.

Ahn, who proposed the establishment of the Jeonbuk Saemangeum Special Autonomous Province as his first pledge upon announcing his candidacy for Jeonbuk Governor, explained that with the financial and administrative authority secured through this law, he will innovate Jeonbuk’s transportation and industrial infrastructure and lay the foundation for sustainable development.

Ahn said, “Jeonbuk, which lacks a metropolitan city and has been marginalized in national balanced development, is facing severe economic recession and the risk of local extinction. By enacting a special law granting high-level autonomy, we can change the framework of Jeonbuk and secure the momentum for groundbreaking development.”

Meanwhile, Ahn Ho-young, the only two-term National Assemblyman from Jeonbuk in the 20th and 21st National Assembly, and a prospective candidate for Jeonbuk Governor, currently serves as the spokesperson for the National Assembly Environment and Labor Committee, chairman of the Democratic Party Central Committee’s Saemangeum Green New Deal Committee, and senior vice-chairman of the Policy Committee.

Wanju=Honam Reporting Headquarters, Reporter Kim Han-ho stonepeak@asiae.co.kr