Yeongdeok County Selected for Ministry of Land's "Public-Private Win-Win Investment Agreement Project"

Creation of MICE Facilities
Expectations for Job Creation and Revitalization of the Local Economy

Yeongdeok County in North Gyeongsang Province has been selected for the "Public-Private Win-Win Investment Agreement Project" organized by the Ministry of Land, Infrastructure and Transport, and will invest a total of 16 billion won, including 5 billion won in national funds over four years, into the "Samsa Marine Park Shared Conference Center Development Project."

Bird's-eye view of Samsa Marine Park Shared Conference Center.

This project is designed to foster regional win-win cooperation, job creation, and revitalization of the local economy through collaboration between local governments and the private sector. Yeongdeok County is among five cities and counties nationwide that were ultimately selected.

For this project, Yeongdeok County jointly planned the "Samsa Marine Park Shared Conference Center Development Project" with private companies Panac and Sono International. The project received high marks in the evaluation process for its feasibility and sustainability.

As a result, Yeongdeok County will establish a banquet-style convention hall with a capacity for 300 people, as well as a multipurpose space for demand-tailored workforce training, on the outdoor performance hall site within Samsa Marine Park, adjacent to Panac Operated by Sono, which opened in December 2024.

The budget required for the project will be sourced from 5 billion won in national funds secured through the selection, 1.5 billion won in provincial funds, 3.5 billion won in county funds, 3 billion won from funds, and 3 billion won in private capital.

This project is expected not only to establish the infrastructure necessary for the MICE (Meeting, Incentives, Convention, Exhibition) industry in the region, leveraging the expertise of the operating company Sono International, but also to foster a sustainable local economic ecosystem. This will be achieved through customized workforce development linked to private investment facilities, the creation of youth jobs, the provision of event spaces for local residents, and the operation of specialized exhibitions such as expos.

In particular, Yeongdeok County aims to reinvest the operating profits from these facilities back into tourism infrastructure, creating a virtuous cycle that stimulates tourism demand. The county expects this will generate an economic ripple effect of more than 33 billion won per year and maintain approximately 230 jobs, thereby revitalizing the local economy, which has recently been weakened by large-scale wildfires.

County Governor Kim stated, "This project is not just about building infrastructure but is an investment in the future of the region. We will develop the Samsa Shared Conference Center as a win-win platform where local residents, youth, and businesses can all grow together."

Governor Kim Kwangyeol added, "This project goes beyond simple infrastructure construction and represents an investment in the future of the region. We will work closely with our private sector partners to ensure that the development of the Samsa Shared Conference Center becomes a win-win platform where local residents, youth, and businesses can grow together."