Launch of 'Yeongga Economic Research Institute' Led by Seoul Residents from Andong

Private Investment and Tourism Revitalization Activities

The (tentatively named) Yeongga Economic Research Institute, chaired by lawyer Nam Young-chan and involving prominent figures from Andong living in Seoul, will hold its inaugural seminar at the Press Center in Seoul on the 15th.

In the future, the institute plans to organize itself as a incorporated association and aims to expand activities that help revitalize the economies of local regions facing population extinction risks and economic stagnation.

The Yeongga Association, composed of 240 members originally from Andong residing in Seoul, established the (tentatively named) Yeongga Economic Research Institute as an affiliated organization on the 4th. The Yeongga Association has been concerned about the decline of local areas threatened by population loss and has sought countermeasures. As part of this effort, they launched the Yeongga Economic Research Institute in Seoul and began full-scale activities.

The scene of the inaugural general meeting of the (tentatively named) Youngga Economic Research Institute held in Seoul on the 4th.

The (tentatively named) Yeongga Economic Research Institute plans to carry out regional economic revitalization activities such as attracting small and medium-sized enterprises and private investment to the region, promoting culture and tourism, and stimulating consumption through the activation of the sixth industry, which combines production, processing, and distribution of agricultural specialties.

At the founding general meeting, lawyer Nam Young-chan, representative attorney of Law Firm Class, was appointed as chairman to lead the institute, and Professor Cho Bong-hwan of Myongji University was appointed as director.

The (tentatively named) Yeongga Economic Research Institute will cover two main topics at the founding seminar held at the Seoul Press Center on the 15th: strategies for raising and managing hometown love donations and measures to promote regional industry-academia-research cooperation.

The seminar will be attended mainly by members of the Yeongga Association, prominent figures from Andong living outside the region, as well as representatives from Andong City and the city council. Following greetings from Moon Sang-bu, president of the Yeongga Association, and Nam Young-chan, chairman of the Yeongga Economic Research Institute, congratulatory speeches will be given by National Assembly member Kim Hyung-dong, Mayor Kwon Ki-chang, and City Council Chairman Kwon Ki-eok.

Going forward, the institute plans to stabilize its organization by registering as an incorporated association, appointing advisors from various fields, and assigning dedicated staff. To this end, it plans to apply for incorporation registration with the relevant government ministry in May, using this milestone to actively attract private support and interest.

The institute intends to focus on concrete and practical measures such as attracting local small and medium-sized enterprises, expanding agricultural product consumption, and improving packaging and design of agricultural specialties, rather than engaging in large-scale government policy discourses.

Moon Sang-bu, president of the Yeongga Association, and Nam Young-chan, chairman of the Yeongga Economic Research Institute, stated, “The Yeongga Economic Research Institute will do its utmost to revitalize the economy of regions at risk of population extinction, and continuous interest and support from Yeongga members and others are necessary to properly fulfill this role.”