Daegu Mayor Choo Kyung-ho presides over the emergency economic council meeting. [Daegu City]
Daegu Mayor Choo Kyung-ho presides over the emergency economic council meeting. [Daegu City]

Daegu Mayor Choo Kyung-ho convened his first emergency economic council meeting Thursday, fulfilling a campaign pledge to address the city's industrial restructuring and economic recovery.

Choo presided over the inaugural session at the main conference room on the third floor of Daegu City Hall's Sanggyeok building that afternoon.

Senior city officials attended, including First Vice Mayor Kim Jeong-gi, Planning and Coordination Director Oh Jun-hyeok, Disaster Safety Director Park Hee-jun and Future Innovation and Growth Director Kim Tae-un.

Outside experts also joined, including specialists and professors in AI, robotics and semiconductors, representatives from economy- and industry-related organizations, the Daegu Chamber of Commerce and Industry, and the Kyungpook National University Industry-Academic Cooperation Foundation.

The first session covered a diagnosis of Daegu's current economic conditions and response strategies, an operating plan for the council, the establishment of an investment fund ordinance and expansion of venture investment, and plans for the "Beotim-eum Project," a worker support initiative.

Participants agreed on the need to move swiftly on transitioning to advanced industries — including AI, robotics, semiconductors, mobility and medical technology — while attracting anchor companies and upgrading traditional industries to higher value-added production.

The emergency economic council will operate across three areas: industrial restructuring, livelihood economy and urban vitality. Unlike previous civil servant-led bodies, it will draw broad participation from outside experts, including representatives from related organizations, businesses, industry associations and academia.

Daegu city will use the "Beotim-eum Project," a competitive grant program run by the Ministry of Employment and Labor, to provide livelihood stabilization and employment retention subsidies to local textile workers hit hard by the war in the Middle East. The program will draw on 2 billion won ($1.32 million) in national funding.

Subsidies will be paid out in Daegu-ro Pay, a local digital currency, with recipients eligible for up to 1.5 million won depending on workplace size and length of employment. Applications will be accepted from Friday through Aug. 21 on the website of the Dyetec Research Institute.

"Daegu's economy is, in a word, in a state of emergency," Choo said. "Going forward, we will use the emergency economic council to tackle the city's key economic challenges — restructuring its economic base, restoring livelihoods and reforming regulations."


kbj7653@heraldcorp.com