[Local Election Interview] Choi Eunseok: "Daegu's Economy Is on the Brink of Bankruptcy... The City Needs an Entrepreneurial Mayor"

Assemblyman Choi Eunseok Declares Candidacy for Daegu Mayor
Entrepreneur-Turned-Politician and Former CEO of CJ CheilJedang
Emphasizes Pinpoint Support for Local Companies Through "Selection and Concentration"
"Fundamental Innovation of Industria

"If we compare Daegu to a company, the city is currently like a business on the brink of bankruptcy. Now is the time when CEO-style leadership with an entrepreneurial mindset is desperately needed."

Choi Eunseok, member of the National Assembly for Dong-gu and Gunwi-gun Gap in Daegu, who has declared his candidacy for Daegu mayor in the 9th nationwide local elections scheduled for June 3, made this statement in an interview with The Asia Business Daily on the 24th. Choi is a politician with a background as an entrepreneur, having served as CEO of CJ CheilJedang, where he accelerated the global expansion of K-Food.

Choi Eunseok, a People Power Party lawmaker who announced his intention to run for mayor of Daegu, is giving an interview at the National Assembly Members' Office Building in Yeouido, Seoul on the 24th. Photo by Kang Jinhyung

He described Daegu’s economic situation as "bleak" and "desperate." Assemblyman Choi noted, "Candidates from political or administrative backgrounds claim that securing more budget will revive the economy," and emphasized, "But what Daegu really needs right now is not only an increase in budget size, but also a fundamental innovation of the industrial infrastructure."

The further the interview progressed, the more naturally his entrepreneurial qualities came to the fore. He stated, "It is meaningless to distribute the budget equally among all companies," and argued, "What’s needed is targeted, focused support based on a clear analysis of the global market, aligning with new technologies, trends, and business model transitions."

His vision for local government is not simply as a 'subsidy distributor', but rather as an 'accelerator' that fosters venture companies. The idea is to select promising companies and provide them with intensive support until they achieve global competitiveness, facilitating exchanges with overseas companies and technologies, attracting investment from foreign funds, and helping them enter new markets. In this way, Choi envisions that when local companies capable of thriving in the global market are born, sustainable jobs will naturally follow.

Assemblyman Choi stated, "What Daegu needs is not an administrator skilled at maintaining the status quo, but an entrepreneur who has actually achieved results in the market," stressing the urgent need for an industrial restructuring that will enhance the city’s self-sustainability. He then presented eight strategic industries to support Daegu’s economy: textiles, opto-electronics, machinery, bio-health, water, intelligent robotics, future mobility, and content IP.

He also said, "To become a city that attracts companies, we need a growth ecosystem where a predictable regulatory environment, industrial clusters, and supply chains are organically connected," adding, "We also need to ensure management stability, including talent, housing, and education." He continued, "Attracting large corporations is not a one-off MOU event. The key is not the scale of incentives, but providing confidence that, even ten years from now, this place will remain at the core of their headquarters strategy."

Regarding the integration of Daegu and Gyeongbuk administrations, he said, "We must secure the same level of support as Gwangju and Jeonnam." He added, "To enhance the competitiveness of the unified special city, the transfer of central government authority and budget to the local level must be ongoing," and, "Through administrative integration, we will achieve economies of scale, advance the industrial structure of Daegu and Gyeongbuk, and systematically nurture a portfolio of future core industries."

Choi Eunseok, a People Power Party lawmaker who announced his intention to run in the Daegu mayoral election, is being interviewed at the National Assembly Members' Office Building in Yeouido, Seoul on the 24th. Photo by Kang Jinhyung

The following is a Q&A with Assemblyman Choi:

-As an entrepreneur, how do you assess Daegu’s current industrial situation?

▲ After becoming a member of the National Assembly, I reviewed Daegu’s budget, administration, and the progress of its projects. Looking through the economic indicators, I found the situation truly bleak. It made me realize that politicians and public officials had really neglected Daegu. Not only have traditional industries declined, but even after attracting new industries, there has been no development of an industrial ecosystem. From a business leader’s perspective, it is desperate at every level: creating an industrial environment, innovating the ecosystem, and discovering and nurturing promising companies.

-Then what methods are needed?

▲ Let’s take the textile industry as an example. First, we need to coolly analyze the technological capabilities of Daegu-based companies within the global industrial sector. Next, we must clearly define which regions or markets we are newly entering and develop the technologies, trends, and business models needed to access those markets. We need to set a clear direction, such as shifting to industrial textiles or targeting high value-added fabric markets, and provide focused support to companies with the capacity to make such transitions.

-Are you saying that not all companies can benefit?

▲ That’s correct. If our support budget is 10 billion won, dividing it into 100 million won each for 100 companies is meaningless. That would only allow companies to barely keep their doors open. Instead, we should select a few companies with real potential and help them grow by matching them for technology and marketing exchanges with overseas companies and connecting them with global investment funds. This will create new jobs in fields that previously didn’t exist in the region. You need to understand the mechanics of industry to revive local industries.

-What is your solution for youth employment?

▲ The essence of the youth talent drain is not just about jobs. It is a complex issue involving the living environment. We need to address citizens’ concerns about entrepreneurship, healthcare, education, and housing culture for young people to return. We should connect youth ideas to investment and job creation, and create a city where emergency medical care is available within ten minutes anywhere. For housing, I will turn unsold apartments into company dormitories for employees, linking real estate, employment, and corporate attraction into a virtuous cycle.

-What is the status of the Daegu-Gyeongbuk administrative integration?

▲ Although there are various issues with the bill itself, National Assembly members from Daegu have agreed to pass the (Daegu-Gyeongbuk Integration Act) during this extraordinary session. I hope the Daegu-Gyeongbuk Integration Act passes at the same level as that of Gwangju and Jeonnam.

-What are the prerequisites for the true effects of integration?

▲ To ensure the competitiveness of the unified special city, it must include provisions for the continuous transfer of central government approval rights and budgets to local governments. For example, if Daegu is to develop a future advanced industrial complex, the authority to make decisions on visa exemptions or housing issues for attracting outstanding foreign professionals should rest with the local government. Only then can we achieve the true purpose of local autonomy.

-What is your vision for Daegu four years from now?

▲ I expect Daegu to become one of Korea’s three leading cities in every respect. Its economic indicators will have changed dramatically. Over 30 'Daegu Star Companies' will be created every year, and companies exceeding 1 trillion won in annual sales will emerge early, visibly transforming the city’s industrial structure. I will ensure that Daegu is recognized not as a stagnant city, but as one that is leaping forward. My vision for Daegu in four years is a city where everyone prospers, a city that is open, attractive, and sophisticated.

Choi Eunseok, a People Power Party lawmaker who announced his intention to run for Daegu mayor, is being interviewed at the National Assembly Members' Office Building in Yeouido, Seoul on the 24th. Photo by Kang Jinhyung

This content was produced with the assistance of AI translation services.