{"id":251728,"date":"2026-03-20T17:40:47","date_gmt":"2026-03-20T08:40:47","guid":{"rendered":"https:\/\/tenbizt.com\/en\/news\/uncategorized\/2026\/03\/20\/gyeonggi-province-plans-drive-2-economic\/"},"modified":"2026-04-15T16:25:41","modified_gmt":"2026-04-15T07:25:41","slug":"gyeonggi-province-plans-drive-2-economic","status":"publish","type":"post","link":"https:\/\/tenbizt.com\/en\/news\/politics\/2026\/03\/20\/gyeonggi-province-plans-drive-2-economic\/","title":{"rendered":"How Gyeonggi Province Plans to Drive 2% Economic Growth Amidst National Challenges"},"content":{"rendered":"<p>Translation result <\/p>\n<div class=\"inner-subtitle\">\n<p>We\u2019ll shoulder 2% of the 3% growth and the supplementary budget drive<\/p>\n<\/div>\n<div class=\"figure\">\n<figure><img decoding=\"async\" src=\"https:\/\/contents-cdn.viewus.co.kr\/image\/2026\/03\/CP-2023-0078\/image-df548e19-07b5-4077-86cc-2af42a159ba6.png\" alt=\"&nbsp; Screen capture\" \/><figcaption>&nbsp; Screen capture<\/figcaption><\/figure>\n<\/div>\n<p>Gyeonggi Province Governor Kim Dong\u2011yeon said the first 10 months of the Lee Jae\u2011myung administration \u201chave been an exhilarating time economically,\u201d noting that the president set a 3% potential growth target. He said Gyeonggi Province has pledged to deliver 2 percentage points of that goal by backing housing and growth policies on the ground.<\/p>\n<p>\u200bKim told OhmyTV\u2019s \u201cPark Jung\u2011ho\u2019s Hotspot\u201d on the 20th that during the three years of the Yoon Suk Yeol government, Gyeonggi countered fiscal austerity with expanded spending, responded most actively to climate-policy backsliding, increased the social-economy budget by more than 200%, and sharply raised R&amp;D funding. He said the province even earned the label of an \u201cexile government\u201d for boldly opposing Yoon\u2019s policy reversals. By contrast, Kim praised the Lee administration for prioritizing speed and tangible results, saying it has shown quick decision\u2011making in crises and underscored how vital a leader\u2019s judgment can be during economic and security shocks such as the Middle East situation. \u201cEven as an economist, I\u2019m impressed by the administration\u2019s economic insight,\u201d he added.<\/p>\n<p>\u200bKim said that when President Lee proposed a 3% potential growth target, Gyeonggi committed to delivering 2 percentage points of it. \u201cOn housing, we announced a plan to supply 800,000 homes,\u201d he said, \u201cand we\u2019ve deployed special judicial police to crack down on market\u2011distorting actors like price\u2011fixing cartels and rental fraud.\u201d He expressed confidence that the Lee administration could be the first to achieve both housing stability and growth, and vowed that Gyeonggi would be the government\u2019s primary partner on those two fronts.<\/p>\n<p>\u200bHe strongly backed the supplementary budget plan President Lee recently proposed. Kim said opposition criticisms that it is populism or vote\u2011buying reflect either ignorance of economics, pure obstructionism, or both. \u201cGiven the Middle East crisis, an exchange rate in the 1,500 KRW range (about $1.13), and severe hardship among small businesses and the self\u2011employed, we need a swift, bold, and sufficient response,\u201d he said.<\/p>\n<p>\u201cYou spend the budget when you need it. Now is the time to inject funds, not to hoard them,\u201d Kim said. He called the president\u2019s decision to move quickly on the supplementary budget timely and judged the scale\u2014around 20 trillion KRW (about $15 billion)\u2014to be appropriate. Gyeonggi will support the effort by preparing its own supplementary budget.<\/p>\n<p>On conflicts with the central government during Yoon Suk Yeol\u2019s tenure, Kim said, \u201cOver three years, prosecutors have raided the provincial office 14 times, and they even searched my office and computer. Investigators and prosecutors once remained in the provincial meeting room for nearly a month, and Gyeonggi was treated unequally in various policy and budget decisions.\u201d<\/p>\n<p>He added that even when the president attended a major Gyeonggi investment event, the governor was deliberately excluded. Despite that pressure, Kim said the provincial administration pursued expansionary fiscal policy, climate action, social\u2011economy programs, and R&amp;D investments\u2014taking a path opposite the central government\u2019s.<\/p>\n<p>\u200bAsked about former lawmaker Yoo Seung\u2011min, who some see as a potential rival in an \u201ceconomist vs. economist\u201d matchup from the opposition, Kim said he hoped the public would not be tired again by chants of \u201cYoon Again\u201d or \u201cTto\u2011Yoon.\u201d He said Yoo could be one of the candidates, but there is no need to single him out. \u201cWhat matters is that a competent, upstanding, and competitive candidate emerges and competes on policy,\u201d Kim said. He added, \u201cIf I clear the primary, I will not only win the gubernatorial race decisively but also lead the Democratic Party to sweep all 31 cities and counties\u2014securing victories for mayors, provincial assembly members, and city councilors.\u201d<\/p>\n<p>On Gyeonggi\u2019s recent cancellation of YouTuber Jeon Han\u2011gil\u2019s \u201cYoon Again\u201d concert booking, Kim said he was determined not to allow groups chanting \u201cYoon Again\u201d or \u201cTto\u2011Yoon\u201d any use of Gyeonggi venues. The event was canceled decisively because it was disguised as a March 1st family cultural performance and distorted the spirit of the March 1st Movement, he said. \u201cI wasn\u2019t afraid at all,\u201d he added, noting that even if on\u2011site attendance would have been low, the organizers likely aimed for viral reach on YouTube. Gyeonggi could not tolerate its venues being used to stage what it saw as an attempted revival of illegal martial\u2011law or insurrectionist forces.<\/p>\n<p>\u200bKim concluded by framing the upcoming local elections as both a positive judgment on the Lee administration\u2019s first\u2011year achievements and as a verdict on the political forces chanting \u201cYoon Again.\u201d \u201cA president who gets things done needs a governor who gets things done,\u201d he said. \u201cWe don\u2019t have a minute to waste on missteps or trial\u2011and\u2011error. When it comes to the economy, livelihoods, and growth, I am confident I will outwork anyone.\u201d<\/p>\n<p>\u00a9 Dailian Co., Ltd. Unauthorized reproduction or redistribution prohibited.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gyeonggi Province Governor Kim Dong-yeon highlights the exciting economic developments under the Lee Jae-myung administration.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_thumbnail_url":"https:\/\/contents-cdn.viewus.co.kr\/image\/2026\/03\/CP-2023-0078\/image-df548e19-07b5-4077-86cc-2af42a159ba6.png","footnotes":""},"categories":[278093],"tags":[],"class_list":["post-251728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Gyeonggi Province Plans to Drive 2% Economic Growth Amidst National Challenges<\/title>\n<meta name=\"description\" content=\"Gyeonggi Province 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