Province mobilizes to attract second-round public institution relocations, integrated power company headquarters
Government announcement on target agencies expected in October-November
South Gyeongsang Province and Jinju held a civic rally Wednesday at Jinju Indoor Gymnasium, drawing more than 1,000 participants — including provincial and city council members, public institution attraction committees and residents — to press for the completion of the Gyeongnam Jinju Innovation City.
Attendees urged the relocation of an integrated power public enterprise headquarters to South Gyeongsang Province, the transfer of Greater Seoul public institutions to the Jinju innovation city in the second round of relocations, and the retention of Korea Land and Housing Corporation (LH) headquarters in the city. Student council presidents from Gyeongsang National University and Jinju National University of Education also read out a resolution calling for the creation of youth jobs.
South Gyeongsang Province argued that leveraging the existing infrastructure of Korea South-East Power (KOEN), already based in the Gyeongnam innovation city, would save more than 300 billion won ($217 million) in construction costs and cut more than five years off the timeline for building a new integrated headquarters. The province said the 300 billion won figure represents the pure construction cost — estimated at around 5 million won per square meter based on the Seoul Metropolitan Government's public building cost guidelines adjusted for projected 2028-2029 price levels — and excludes land acquisition, compensation, design and supervision fees, meaning actual savings would be even greater.
The province also cited the need to cushion the employment impact from the planned closure of the Samcheonpo and Hadong coal-fired power plants, as well as industrial linkages with local energy companies such as Doosan Enerbility, as additional grounds for the bid.
On the second-round relocation of Greater Seoul public institutions, the Ministry of Land, Infrastructure and Transport has pushed back its announcement of target agencies from an originally planned late September to around October or November, following a public deliberation process. In response, South Gyeongsang Province has identified 40 agencies — including the Korea Institute for Advancement of Technology, KOTRA and Industrial Bank of Korea — as its own attraction targets and plans to step up its efforts accordingly.
The province intends to issue a joint statement by the governor and National Assembly lawmakers in September and hold a meeting of its attraction committee before responding to the government's guidelines. It also plans to organize lobbying activities in the Greater Seoul area, including near the National Assembly, timed to coincide with the government's announcement of target agencies.
"The relocation of public institutions is a core task for balanced national development," said Park Il-ung, administrative vice governor of South Gyeongsang Province. "We will pool the strength of the local community and the political sphere to do everything we can to bring in the integrated power enterprise headquarters and public institutions."
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