Presenting Chungcheong Region as a Growth Axis in the 150 Trillion Won National Growth Fund Plan
Emphasizing a Strategy Centered on Youth Employment and Advanced Industries
Jung Hyun Park, Mayor of Buyeo County in South Chungcheong Province, stated that the Local Growth Fund, which will be allocated 60 trillion won out of the 150 trillion won National Growth Fund to be established over the next five years, will serve as a key pillar for balanced national development. He emphasized that South Chungcheong Province should take the lead in the Chungcheong region's Local Growth Fund.
On the 16th, Mayor Park told The Asia Business Daily, "The National Growth Fund is not just a simple injection of fiscal resources, but a national strategy to reposition local regions at the center of growth." He added, "The success or failure will depend on how quickly and how field-oriented the Local Growth Fund is designed."
The Lee Jaemyung administration plans to secure growth resources by fostering advanced industries such as AI and semiconductors, and, based on this, establish the National Growth Fund at a scale of 150 trillion won over five years. Of this, 60 trillion won, or 40%, will be allocated to the Local Growth Fund and invested in regional industrial transformation and reconstruction.
Mayor Park stressed, "The Local Growth Fund should not remain at the planning stage. As the local crisis deepens, the time and cost required for recovery increase, so the fund must be deployed to the field as soon as it is finalized."
He said, "Local governments, who know the field best, are best positioned to accurately assess the characteristics and potential of their regions. Local governments should be at the center of establishing and operating the fund, while the central government should support them institutionally and financially."
He continued, "Local growth begins with creating an environment where young people can return and settle down. The Local Growth Fund should focus on attracting and nurturing promising companies in advanced future growth industries to create quality jobs."
Mayor Park cited growth potential and execution capability as reasons why South Chungcheong Province should lead the Chungcheong region's Local Growth Fund.
He explained, "South Chungcheong Province is showing the fastest growth among non-metropolitan areas, with both population and investment increasing simultaneously. It has an environment where outcomes can be achieved most quickly relative to investment."
He further emphasized, "With strengths in international accessibility and investment attraction, South Chungcheong Province is geographically close to China, which is rapidly growing in advanced industries such as AI and humanoid robots. Leveraging this proximity is advantageous for attracting foreign investment."
He added, "It is a region with the conditions to expand the South Chungcheong Growth Fund into the 'South Chungcheong International Growth Fund.'"
Mayor Park stated, "South Chungcheong Province is adjacent to the Honam Energy Industry Belt, has excellent accessibility to the Seoul metropolitan area, and is well connected to Incheon International Airport. It offers an efficient environment for foreign investors and global companies to do business."
He continued, "For South Chungcheong Province to quickly establish the South Chungcheong International Growth Fund and lead the Chungcheong region's growth fund is a choice that contributes not only to the interests of a specific region but also to the growth of all local areas and the nation as a whole. The government, National Assembly, and local communities must work together to realize and implement the Local Growth Fund."
He further emphasized, "South Chungcheong Province can play a central role in creating livable local areas where young people return and in building a strong local base that leads Korea toward a multipolar system. A policy decision regarding the South Chungcheong International Growth Fund is necessary."
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