South Korea’s ruling party backs Saemangeum development and Hyundai investment in Jeonbuk
The ruling Democratic Party leadership traveled to Sunchang County in North Jeolla Province on March 13 to pledge continued support for regional development ahead of the June 3 local elections, highlighting efforts to overcome what party officials call “threefold marginalization” faced by Honam.
The visit centered on the Fermented Microorganism Industry Promotion Institute in Sunchang, where the party held an onsite supreme council meeting to discuss candidates and regional priorities. The party framed the trip as part of its strategy to consolidate support in the southwest ahead of local polls.
Democratic Party leader Jeong Cheong-rae underscored the aim of fair primary screening to nominate candidates who will work for Jeonbuk, presenting slogans such as “Again stepping up Jeonbuk, Again rising Jeonbuk, Jump Jeonbuk.” He said the party recognizes the region’s unique disadvantages and pledged active help to address them.
Jeong linked local development to the Saemangeum project, noting that President Yoon Suk Yeol’s government had begun a large-scale investment partnership with Hyundai Motor Group totaling around 9 trillion won. He said the government would push to streamline regulations, provide incentives, and accelerate infrastructure work to turn Saemangeum into a genuine engine of Jeonbuk’s growth.
In a separate address, Han Byung-do, the Democratic Party’s floor leader representing Iksan, estimated that Hyundai’s 9 trillion won investment could generate about 16 trillion won in induced economic activity and create roughly 71,000 direct and indirect jobs. He also cited the rural basic income pilot started in Sunchang as a notable policy test that should be scaled nationwide if successful.
Yoon Jun-byung, a Democratic Party lawmaker who chairs the Jeollabuk-do regional committee, said the National Assembly’s Administrative Safety Committee was slated to consider the Jeonbuk Special Self-Governing Province Act next week, arguing the process could help heal regional wounds from past decades.
The day closed with Jeong Cheong-rae taking part in a traditional jang (fermented paste) making session at the promotion institute, alongside renowned jang master Gang Sun-ok. The moment underscored the cultural dimension of regional development.
Context for U.S. readers: Saemangeum is a vast coastal reclamation and development project in western Jeollabuk-do, intended to spur industrial growth, attract investment, and diversify Korea’s regional economy. Hyundai’s multi-trillion-won investment is part of that broader effort, with potential implications for global supply chains, automotive components, and regional policy models. The Rural Basic Income pilot in Sunchang reflects Korea’s experimentation with social policy formats that could influence policy discussions on rural resilience and equity beyond Korea’s borders.