Deputy Prime Minister-Minister Kim Dong-yeon of the Ministry of Economy and Finance (MOEF), other economic ministers and local government heads gesture during their meeting at the Sejong Government Complex Convention Center on Aug. 8.

Deputy Prime Minister-MOEF Minister Kim gives a speech during his meeting on innovative growth with local government chiefs. (Photos: MOEF)

Deputy Prime Minister-Minister Kim Dong-yeon of the Ministry of Economy and Finance (MOEF) said the government will invest at least 2.5 trillion won next year in eight leading projects, including the platform economy, smart factory and self-driving cars.
Deputy Prime Minister Kim made the remarks at a meeting at the Sejong Government Complex Convention Center on Aug. 8 in which the MOEF Minister Kim and other economic ministers as well as 17 provincial and metropolitan government heads came together to share ways of promoting innovative growth.
The government plans to set aside 2.5 trillion won in solving grievances and complaints provincial and metropolitan city government chiefs wanted to fix and create more than 10,000 jobs.

Metropolitan city and provincial government consultative bodies designed to serve as platforms to communicate on innovative growth between government and local governments will be inaugurated in September.
Currently, the government supports diverse provincial projects with a focus on the Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of SMEs and Startups (MSS), but it comes under fire for lacking efficiency due to the spreading of functions among the ministries. Reflecting the criticism, central and local governments plan to inaugurate regional innovation consultative bodies on Sept. 21.

The meeting took place one month after the 7th local autonomous governments were inaugurated following the June 13 local polls. The participating local government heads shared the view that the central government should boost investments into provincial areas and ease regulations to promote balanced development and sustainable growth.

Gyeonggi-do Gov. Lee Jae-myung proposed that the state should spearhead the development of granted areas returned in the wake of the relocation of United States military bases, like the former Yongsan military complex site. He called for a shift into a state-initiated development method, saying that the northern region of the province has insufficient financial resources to buy the spacious public land.

Incheon Metropolitan City Mayor Park Nam-choon requested the government explore ways of making the most of about 10 international organizations, including the Green Climate Fund (GCF), which are located in Incheon. He called for relaxation of regulations that stand in the way of the development of the original urban area.
Chungcheongbuk-do Gov. Lee Si-jong suggested the super-metropolitan development strategy involving nine provincial and municipal governments focusing specialized high-tech industries. He called for joint R&D and manpower development to promote balanced state development and secure potential for innovative growth.
Gangwon-do Gov. Choi Moon-soon asked for the government support for the parliamentary approval of the so-called regulation-free bill to boost the mountain tourism of the Daegwallyeong.

Gwangju Metropolitan City Mayor Lee Yong-sup called for the extension of the current eight free economic zones across the nation to include such areas as Gwangju and the North Port area of Busan. Mayor Lee suggested the development of a new job creation model in Gwangju, designed to overhaul such issues as wage hikes, labor-management relationships and contractor-subcontractor ties and the spreading of the exemplary practice to other parts of the nation.