President Yoon Announces Creation of 800 Billion KRW 'East Coast Hydrogen Economy Industrial Belt' (Comprehensive)

26th Public Discussion Forum Held in Gyeongsan, Gyeongbuk
"Connecting Gyeongbuk and Nationwide into a '2-Hour Living Zone'"
Support for 300 Billion KRW SMR National Industrial Complex in Gyeongju
Creation of 130 Billion KRW National Marine Ecological Park in Homigot

President Yoon Suk-yeol is speaking at the 26th "Public Livelihood Discussion" held on the 20th at the Cheonma Art Center, Yeungnam University Gyeongsan Campus, Gyeongsan-si, Gyeongbuk, under the theme "Northeast Asia Advanced Manufacturing Innovation Hub, Gyeongbuk."
[Image source=Yonhap News]

President Yoon Suk-yeol stated on the 20th, "For Gyeongbuk to make a new leap forward, industrial structure innovation is paramount," adding, "We will support the creation of an 800 billion KRW-scale East Coast 'Hydrogen Economy Industrial Belt' project to develop Gyeongbuk into a 'hub of the hydrogen industry'." He also presented a blueprint to connect Gyeongbuk and the entire country into a '2-hour living zone' by accelerating the construction of the 3.4 trillion KRW-scale Yeongilman Transversal Expressway and the Seongju-Daegu Expressway.

On the same day, President Yoon held the 26th 'Public Livelihood Discussion' under the theme 'Northeast Asia Advanced Manufacturing Innovation Hub, Gyeongbuk' at Yeungnam University located in Gyeongsan, Gyeongbuk. This discussion was held outside Seoul for the first time in three months since the March Chungbuk Livelihood Discussion.

In his opening remarks, President Yoon mentioned former President Park Chung-hee. He said, "Gyeongbuk can be said to be the region that shaped today's Republic of Korea," and introduced, "Especially, the birthplace of the Saemaul Undong (New Village Movement), which fundamentally transformed our country, is the Sindori village in Cheongdo-gun, not far from here."

He continued, "Former President Park, while traveling by train to a flood damage site in the Gyeongnam region, was so surprised by the scenery outside the window that he stopped the moving train and visited Sindori village," explaining, "When the village was discouraged by flood damage, they not only restored the flood damage but also took the opportunity to build roads and improve roofs to make the village better. President Park was impressed by this and started the Saemaul Undong in April 1970, modeling it after Sindori village."

In particular, President Yoon emphasized, "The essence of our government's local era policy is that if a region discovers competitive fields on its own and establishes development models, the central government actively supports them," adding, "Our government's local era policy aligns with the spirit of the Saemaul Undong."

Yoon: "Supporting Gyeongbuk’s Leadership in Nuclear Industry Restoration and New Industrialization"

President Yoon stated, "Currently, the Pohang 'Hydrogen Fuel Cell Cluster' and Uljin 'Nuclear Hydrogen National Industrial Complex' are being promoted. For this, the construction of a 'hydrogen pipeline network' is essential," and added, "We will support smooth financing by using the 'Regional Revitalization Investment Fund' as seed money."

He continued, "Through the establishment of a 'Nuclear Industry Growth Fund,' technology development, prototype production, and infrastructure expansion, we will support the creation of a 300 billion KRW-scale 'Small Modular Reactor (SMR) National Industrial Complex' in Gyeongju, and ensure the smooth construction of Shin-Hanul Units 3 and 4 to restore the nuclear industry ecosystem and enable Gyeongbuk to play a leading role in new industrialization." The Gumi Industrial Complex, designated as a semiconductor specialized complex last July, will be nurtured as a production base for semiconductor materials and components, and a 'Research and Development (R&D) Verification Center' for system semiconductor design verification is planned to be established by 2026.

President Yoon also announced, "We will invest 150 billion KRW to build a 'Startup Park' in Gyeongsan and an 'Advanced Manufacturing Incubating Center' in Pohang, and create a 30 billion KRW-scale regional innovation venture fund to support financing, nurturing Gyeongbuk as a key player in 'Startup Korea'." He introduced plans to develop Gyeongbuk as a hub for smart farms and to spread the successful model of the 'Innovative Agriculture Town' nationwide, while actively utilizing the 250 billion KRW-scale Ministry of Agriculture, Forestry and Fisheries advanced smart farm support budget.

President Yoon Suk-yeol is speaking at the 26th "Public Livelihood Discussion" held under the theme "Northeast Asia Advanced Manufacturing Innovation Hub, Gyeongbuk" on the 20th at the Cheonma Art Center, Yeungnam University Gyeongsan Campus, Gyeongsan-si, Gyeongbuk.
[Image source=Yonhap News]

Yoon: "Farmland Act Needs Revision... Could Become an Obstacle to Agricultural Productivity"

When an attendee suggested spreading rural welfare and rural innovation cases, President Yoon said, "We need to reform rural areas and revise the Farmland Act," adding, "If we are not careful, the fundamental principle of 'Gyeongja Yujeon' (the prohibition of tenant farming), a constitutional principle, could become an obstacle to institutional changes that increase agricultural productivity. Therefore, I hope the Ministry of Agriculture, Food and Rural Affairs reflects deeply on institutional reform."

He also pledged to significantly expand Gyeongbuk's outdated transportation infrastructure. President Yoon emphasized, "We will swiftly promote the construction of the 3.4 trillion KRW-scale Yeongilman Transversal Expressway and accelerate the construction of the Seongju-Daegu Expressway to connect Gyeongbuk and the entire country into a '2-hour living zone.' We will also firmly manage the plan to expand the chronically congested National Road No. 7 section from Gyeongju to Ulsan from four lanes to six lanes."

President Yoon committed to actively building tourism infrastructure utilizing Gyeongbuk's natural environment. He promised, "We will create a 130 billion KRW-scale National Marine Ecological Park at Homigot in Pohang and support the East Coast leisure belt project, which includes building hotels and resorts in Pohang, Yeongdeok, Uljin, and other East Coast areas."

Additionally, he announced plans to invest 20 billion KRW to build the 'East Sea National Defense History and Culture Center' in Pohang by 2026 and to promote the establishment of an 'International Education Center' to enhance the global capabilities of Gyeongbuk students and support students from multicultural families. Regarding the integration of Gyeongbuk and Daegu, President Yoon added, "We will spare no government-level support to ensure that the integration improves residents' quality of life and becomes a new driving force for regional development."

Woo Dong-gi, Chairman of the Provincial Era Committee, Lee Cheol-woo, Governor of Gyeongbuk, and Ahn Deok-geun, Minister of Trade, Industry and Energy, are applauding President Yoon Suk-yeol's remarks at the 26th "Public Livelihood Discussion" held on the 20th at the Cheonma Art Center, Yeungnam University Gyeongsan Campus, Gyeongsan-si, Gyeongbuk, under the theme "Northeast Asia Advanced Manufacturing Innovation Hub, Gyeongbuk."
[Image source=Yonhap News]

On the same day, Lee Cheol-woo, Governor of Gyeongbuk Province, requested President Yoon to establish medical schools at Andong National University and POSTECH. Governor Lee said, "This idea came from the medical crisis, but healthcare should move toward public healthcare," proposing, "There are three provincial medical centers and three county medical centers, and by expanding departments such as obstetrics, internal medicine, and pediatrics, the country should become one where all citizens can receive medical facility support." He also requested, "Since we need to create public medical centers, please establish a medical school at Andong National University and a research-oriented medical school at POSTECH to secure the necessary talent."

Yoon: "Goal is for Central and Local Governments to Share Tax Burden"

In particular, President Yoon emphasized the active role of local governments in his closing remarks. Citing recent visits from governors of Georgia, USA, he said, "If local governments are to compete fiercely overseas to attract companies, they must be given ample resources and authority, and accessibility to the region must also be ensured."

He added, "The goal is for taxes to be shared between the central and local governments," explaining, "Corporate tax and income tax should be split evenly between the central and local governments." President Yoon added a caveat, "I don't know how quickly this will be achieved," but urged, "Even if there are national projects at the central government level, both central and local governments must fiercely compete under their own responsibilities."

About 100 people attended the discussion, including local residents, energy new industry entrepreneurs related to nuclear power and hydrogen in Gyeongbuk, startup entrepreneurs, parents, and members of the Gyeongbuk Local Era Committee. From the government and local governments, there were Woo Dong-gi, Chairman of the Local Era Committee, Lee Sang-min, Minister of the Ministry of the Interior and Safety, Ahn Deok-geun, Minister of the Ministry of Trade, Industry and Energy, Park Sang-woo, Minister of the Ministry of Land, Infrastructure and Transport, and Oh Young-joo, Minister of the Ministry of SMEs and Startups. From the Presidential Office, there were Sung Tae-yoon, Chief of Policy Office, Park Chun-seop, Senior Secretary for Economic Affairs, and Jang Sang-yoon, Senior Secretary for Social Affairs.

Meanwhile, the Presidential Office reported that after the livelihood discussion, President Yoon visited the Yeungnam University History Hall, where records of former President Park Chung-hee are exhibited, and reviewed the footsteps of former President Park.