Kim Kyungsoo: "30 Trillion Won in Annual Discretionary Budgets for Five Mega-City Autonomous Governments"

Kim Kyungsoo, former governor of Gyeongnam Province and a preliminary presidential candidate of the Democratic Party of Korea, pledged on the 26th to create a virtuous cycle in which the five mega-city autonomous governments, together with universities, research institutes, and companies, nurture people based on their unique characteristics, and in turn, people help develop the regions.

Former Governor Kyungsoo Kim of Gyeongnam Province. Photo by Asia Economy DB

On this day, at the joint speech event for the Honam region to select the Democratic Party's 21st presidential candidate, held at the Kim Daejung Convention Center in Gwangju, Kim stated, "I will provide more than 30 trillion won in annual discretionary budgets to the five mega-city autonomous governments."

He explained, "Currently, the central government allocates 90 trillion won in funds to local governments each year, but these come with strings attached," adding, "I am proposing that at least one-third of those funds be provided without such restrictions."

He continued, "It is time to change the national governance system," and emphasized, "Regions must be able to determine their own destinies."

Regarding the December 3, 2024 martial law incident, he said, "Forty-five years ago, Gwangju condemned the rebellion." Kim stated, "Because there was accountability for the 5·18 rebellion, we were able to overcome martial law and insurrection. Gwangju once again saved democracy in Korea," stressing, "This is why the spirit of May 18 Gwangju must be enshrined in the preamble of the Constitution."

He declared, "A second Chun Doohwan can never be tolerated. Through thorough accountability, we must ensure that no one ever even considers insurrection again," and added, "With an overwhelming change of government, I will completely put an end to rebellion."

He also mentioned the so-called 'Honam neglect theory,' saying, "For decades, Honam's support for the Democratic Party has remained unwavering, but there are still no concrete promises for regional development."

He appealed, "It is difficult to dream of regional development with a central government that does not understand the regions, holding onto budgets and authority, and distributing funds with strings attached as if doing a favor. Please give an opportunity to Kim Kyungsoo, candidate number 2, the symbol of Democratic Party victory, the symbol of President Kim Daejung, the symbol of President Roh Moo-hyun, and the 'son-in-law of Honam.'"

Meanwhile, the Democratic Party will hold a joint speech event for Gangwon, the Seoul metropolitan area, and Jeju at KINTEX in Ilsan, Goyang City, Gyeonggi Province, the following day, concluding the tour of primary events. The final presidential candidate will be selected at this event.