Five locations, including Busan Seo-gu, Nonsan in South Chungcheong Province, Imshil in North Jeolla Province, Wando in South Jeolla Province, and Yeongdeok in North Gyeongsang Province, have been selected as targets for the public-private coexistence investment agreement project. The selected five locations are set to receive up to 5 billion won in government funding and will be reborn into medical and healthcare industrial complexes or tourist attractions according to regional characteristics.
The Ministry of Land, Infrastructure and Transport announced on the 14th that it has finalized the selection of five projects through the public-private coexistence investment agreement program for 2025 to respond to the regional extinction crisis and enhance local vitality by pooling the capabilities of the private sector, government, and local governments.
The public-private coexistence investment agreement project is a cooperative initiative led by the private sector to plan and operate local coexistence projects, while the public sector supports infrastructure development, and was first introduced last year. The nine projects selected last year, including the "Gyeichon Classic Art Village" in Pyeongchang County, Gangwon Province, and the "Fermentation Sensory Complex Platform" in Yeongyang County, North Gyeongsang Province, are currently receiving government support and are in progress.
The Ministry of Land, Infrastructure and Transport supports selected projects with government funding of up to 5 billion won for infrastructure development. To maximize the impact of these projects, relevant government support programs, including the regional extinction response fund, will be interconnected.
The projects selected this time are those that can enhance local vitality by integrating the regional industrial resources and entrepreneurial ecosystem or promoting specialization of tourist resources.
Busan Seo-gu, a representative area of population decline within the metropolitan local government, plans to build a medical and healthcare industrial ecosystem by utilizing local characteristics, including three university hospitals, in cooperation with the Busan National University Hospital's Biomedical Research Institute, among others. The plan includes providing office space for startups in the medical field and supporting specialized programs across all areas of entrepreneurship to focus on the research and development (R&D) of the medical field and nurturing startups in the medical industry.
Nonsan City in South Chungcheong Province will collaborate with companies like Bitseom Co., Ltd., Ibigah Group, and Konyang University to continuously exhibit the stained-glass works of artist Kim In-joong and operate a food and beverage academy alongside a café. Through this project, plans are in place to reconstruct the grain warehouse, a remnant of exploitation during the Japanese colonial era located in Ganggyeong-eup, into a complex cultural space utilizing stained glass, establishing it as a hub for regional culture and arts.
Imshil County in North Jeolla Province plans to create experience-based recreational spaces such as Playbill, tree houses, and glamping sites in collaboration with theme park specialists Dreamland Co., Ltd. and Dream Leisure Co., Ltd., linked to the cheese theme park. This project aims to expand the thematic space and provide various recreational and staying environments to create a synergy effect with the Imshil Cheese Theme Park.
Wando County in South Jeolla Province will work with the Daewoo Foundation (Art Sonje Center), which operates a hospital in Wando and contributes to national welfare improvement through cultural and artistic projects. Centered around Kim Seon-jeong, the art director of Art Sonje Center, plans are set to establish the "Wando Island Art Museum” to showcase renowned works and integrate various programs, including artist residences and art festivals, linked to Wando's vision project of healing the mind.
Yeongdeok County in North Gyeongsang Province will build a shared conference center linked with local tourism facilities such as hotels and resorts within the Samsa Marine Park in collaboration with Panack Corporation and Sono International, which are specialized in the tourism industry. This initiative aims to add conference and convention functions to local tourist resources and operate a remote vacation work (workation) program for corporations and local talents, thereby enhancing the attractiveness and usability of existing tourist resources and further revitalizing the local economy.
By October of this year, the Ministry of Land, Infrastructure and Transport plans to sign an agreement between the ministry and local governments after deliberation by the Local Era Commission and to invest in a budget for four years to advance the establishment of facilities for public-private cooperative regional coexistence projects until 2028.
Kim Ji-yeon, director of the land policy division at the Ministry of Land, Infrastructure and Transport, emphasized that “collaboration with the private sector, which possesses flexibility and diversity, is more important than ever to respond to regional extinction,” and expressed hope that participation from universities, corporations, and public interest foundations with creativity and expertise would infuse life and vitality into the region.