Bonghwa County Presents First "Win-Win Consumption Model" ... Proposes New Cooperation Framework

A New Model for Regional Cooperation
Bonghwa Leads the Way with Win-Win Consumption Agreement

Bonghwa County in North Gyeongsang Province has proposed a new cooperation model to overcome the crisis of local extinction.

Hyunguk Park, Bonghwa County Governor (sixth from the left), signed a win-win cooperation agreement with the Ministry of Economy and Finance and Korea Midland Power.

On August 28, the county signed a "business agreement to promote win-win consumption" with the Ministry of Economy and Finance and Korea Midland Power at the county office’s main conference room. This agreement serves as a concrete implementation case of the regional win-win consumption promotion plan discussed at the first economic ministers’ meeting of the new government on August 7.

At the signing ceremony, which brought together central government, public enterprises, and local governments, more than 40 people attended, including Hyungil Lee, First Vice Minister of the Ministry of Economy and Finance, Jongguk Lee, Head of Planning and Management at Korea Midland Power, and representatives of local residents.

Under the agreement, the three organizations will jointly promote practical measures to support the local economy, including: prioritizing the use of local specialty products for holiday and souvenir purchases; operating direct transaction markets at government offices; and participating in the Hometown Love Donation Campaign.

Bonghwa, the first pilot case outside the Seoul metropolitan area, is leading the way. Hyunkuk Park, Bonghwa County Governor, said, "The fact that the central government, public enterprises, and local governments have come together to promise win-win cooperation is a great strength for our county. In particular, since this agreement is the first case among local governments outside the metropolitan area, we will do our best to establish Bonghwa as a successful model."

With this agreement, Bonghwa County plans to fully activate a "win-win governance" system connecting the central and local governments, aiming to produce tangible results in responding to local extinction and revitalizing the local economy.

This agreement is noteworthy as it goes beyond simply promoting consumption, marking the first experiment in which the central government, public enterprises, and local governments create a unified economic ecosystem. If Bonghwa succeeds in establishing this model, it could signal a turning point for the future of local regions.