Gangwon-do Decides to Support Regional Development Projects Worth 200 Billion Won

Passed Investment Review Committee... 36 Projects Including Smart Senior Centers Construction
"Plan to Harmoniously Manage Local Issues Projects Under Sound Fiscal Policy"

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on the 7th that, as a result of the 3rd local fiscal investment review, 36 projects totaling 204.5 billion KRW were approved, which is expected to further accelerate the promotion of regional issue projects.

Exterior view of Gangwon Special Provincial Government Building.

The local fiscal investment review is a system that comprehensively evaluates the feasibility, appropriateness of input resources, urgency, and demand analysis results of large-scale investment projects promoted by local governments. If a project is not recognized as appropriate in this review, national, provincial, and municipal funding cannot be allocated.

The review is classified by investment scale into central, provincial, and city/county self-assessments. This review mainly targeted projects promoted by Gangwon Province ranging from 4 billion to 30 billion KRW, projects promoted by cities/counties ranging from 6 billion to 20 billion KRW, and event-type projects (3 to 30 billion KRW) that undergo regular re-examination every three years.

The Gangwon Province investment review began in August with a preliminary practical review by the responsible department, followed by on-site practical reviews by 12 private members of the investment review committee to verify surrounding conditions and locations. Subsequently, comprehensive practical reviews, preliminary written reviews by committee members, and comprehensive committee reviews were conducted in sequence.

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Major projects that passed this investment review include the Gangwon-type Smart Senior Center Construction (promoted by Gangwon Province, total project cost 10 billion KRW), Gangwon National University Rear Gate Public Parking Lot Construction Project (Chuncheon City, 9.6 billion KRW), Woljeongsa World Youth Meditation Center Construction (Pyeongchang County, 18.7 billion KRW), Inje-eup Urban Life Park Construction (Inje County, 15 billion KRW), and 2024 Small and Medium Smart City Construction Project (Taebaek City, 16.4 billion KRW). These projects are expected to contribute to improving residents' living environments and regional industrial development.

In particular, the Gangwon-type Smart Senior Center Construction project is a project that introduces smart equipment to enable elderly residents to receive health management and various cultural programs at senior centers. Last month, Governor Kim Jin-tae personally visited the first smart senior center and announced plans for continuous expansion.

Additionally, event-type projects that have become representative local tourism festivals, such as the Pyeongchang Daegwallyeong Music Festival (promoted by Gangwon Province, 1.4 billion KRW), Wonju Dancing Carnival (Wonju City, 1.4 billion KRW), Donghae Mureung Festival (Donghae City, 800 million KRW), Hongcheon Ginseng Hanwoo Premium Festival (Hongcheon County, 500 million KRW), Hoengseong Hanwoo Festival (Hoengseong County, 2.2 billion KRW), and Jeongseon Arirang Festival (Jeongseon County, 2.2 billion KRW) also passed the re-examination held every three years.

?Governor Kim Jin-tae of Gangwon Province stated, “Going forward, the provincial investment review will continue to prioritize sound fiscal management as a basic policy and harmoniously reflect regional issue projects.”