Fundraising up to 20 Billion KRW over 9 Years to Create a Sustainable Island
Yeosu City, Jeollanam-do (Mayor Jeong Gi-myeong) announced on the 18th that four locations?Geumo-do (Songgo) in Nam-myeon, Gaedo (Sinheung) and Hahwa-do in Hwajeong-myeon, and Myo-do (Changchon)?have been finally selected for the Ministry of the Interior and Safety’s “2025 Island Region Specialization Project.”
The “Island Region Specialization Project” is a national project that supports residents in organizing their own groups to discover main businesses and generate income.
The project proceeds through a total of four stages. In the first stage, a resident capacity-building project is promoted, and upon meeting the criteria, it advances to the second stage of “discovering and selecting village main businesses,” the third stage of “expanding main businesses and building related infrastructure,” and the fourth stage of “resident self-reliance capacity enhancement education and consulting,” gradually becoming more advanced.
Earlier, in April, the Ministry of the Interior and Safety received first-stage project applications from 20 islands among the “188 islands targeted for development in special situation areas,” conducted document and on-site evaluations, and finally selected 10 islands.
Among them, Yeosu City recorded the highest number nationwide again this year, with four islands (Geumo-do, Gaedo, Hahwa-do, Myo-do) selected. A total of 1.6 billion KRW in national funds will be invested, with 400 million KRW allocated to each island for the first-stage project.
A city official said, “We will promote the project by leveraging the unique characteristics of the islands,” adding, “Expanding island-based infrastructure is expected to be a driving force for the successful hosting of the 2026 Yeosu World Islands Expo.”
Meanwhile, Ando, selected in 2023, has completed the first-stage project, and Hwataedo has confirmed the second-stage project, securing an additional budget of 900 million KRW over two years.
Also, the first-stage projects are actively underway on three locations selected in 2024: Geumo-do (Jikpo) and Chodo (Uiseong, Daedong).
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