On Jan. 16 Prime Minister Kim Min-seok announced a plan to merge Daejeon with South Chungcheong Province and Gwangju with South Jeolla Province. The government would provide up to 40 trillion won ($27.3 billion) in financial incentives over the next four years to these newly formed “integrated special cities.” The cities would be given greater administrative autonomy and priority in the relocation of public institutions in the hope of revitalizing local economies.

The plan is a key part of President Lee Jae Myung’s balanced national development strategy and aligns with his broader “5 Regions + 3 Special Zones” national development framework aimed at stimulating growth in regional hubs through corporate subsidies, tax breaks and streamlined regulations.

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