At Yeungnam University: "Severe Medical Infrastructure Shortage in North Gyeongsang, National Medical School Needed"
"Real Estate Index Gap Doubled"?Specialized Growth Is the Only Solution to Polarization
"Currently, North Gyeongsang Province is facing a serious situation where its growth engine has come to a halt."
On December 9, former Deputy Prime Minister for Economic Affairs Choi Kyunghwan met with chief executive officers (CEOs) at the forefront of the regional economy and diagnosed the crisis facing the North Gyeongsang economy in these terms, while also presenting specific solutions for a new leap forward.
Former Deputy Prime Minister and Minister of Economy Kyeonghwan Choi giving a special lecture to the executive MBA students at Yeungnam University Graduate School of Business Administration on the 9th.
During his lecture to the Executive MBA students at Yeungnam University Graduate School of Business Administration, a large number of CEOs and leaders who run businesses or are engaged in self-employment in the region attended, demonstrating their keen interest in the revival of North Gyeongsang’s economy.
Choi began his lecture by presenting concrete figures that illustrate the sense of crisis stemming from the overall stagnation of the Korean economy and the risk of local extinction due to the concentration of resources in the Seoul metropolitan area.
He pointed out, "As of June 2025, North Gyeongsang’s population extinction risk index stands at 31.4, ranking second lowest among the 17 provinces and metropolitan cities nationwide, and its fiscal independence rate has also hit rock bottom at 24.35%."
He particularly highlighted the widening gap in real estate price indices (Seoul 187.9 vs. North Gyeongsang 98.0), underscoring the deepening polarization between Seoul and the provinces.
On this day, Choi presented a 'Five-Point Strategy' to restart the halted heart of North Gyeongsang, which resonated strongly with the attending CEOs.
The core strategies he proposed are: ▲ Fostering region-specific new industries (the triangle strategy connecting Gumi-semiconductors/defense, Pohang-secondary batteries/materials, and Gyeongsan-ICT/R&D), ▲ Strengthening the competitiveness of local universities (with focused support for regionally specialized fields), ▲ Creating high value-added in the cultural tourism industry (specializing in Silla, Gaya, and Confucian cultural content), ▲ Converting the TK New Airport project into a national fiscal project, and ▲ Expanding the region’s inadequate medical infrastructure.
In particular, regarding the medical sector, Choi emphasized, "The number of doctors per 1,000 people in North Gyeongsang is 2.3, which is less than half of Seoul’s 4.7, threatening residents’ basic right to health."
As solutions, he called for the urgent establishment of a national medical school in northern North Gyeongsang and the rapid introduction of a telemedicine system.
Regarding the construction of the TK New Airport, he argued, "It is realistically impossible to relocate a military airport, which is directly linked to national security, through the donation-leaseback method entrusted to the private sector," and insisted, "Like the new airport in Gadeokdo, it should be converted into a national fiscal project to foster an integrated aviation logistics economic zone."
The Executive MBA students in attendance, who are responsible for the real economy of the region, showed deep interest in concrete regional development measures rather than mere theory.
One attendee commented, "He accurately addressed the labor shortages and lack of infrastructure that we experience while doing business in the region. In particular, the new industry triangle strategy and the plan to expand medical infrastructure are areas that I sincerely empathize with as a local resident."
In his closing remarks, Choi stated, "For the North Gyeongsang economy to rise again, we must not simply repeat the old ways. I hope that the regional leaders here will take the lead in driving innovation in their respective fields. I, too, will spare no effort and policy advice to ensure that North Gyeongsang’s engine can power up once again."
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