Suwon, a city in South Korea, has recently been undergoing significant changes under the leadership of Mayor Lee Jae-joon. Since taking office in July 2022, Lee, a member of the Democratic Party of Korea, has ardently focused on transforming Suwon, despite the nation’s broader political and economic challenges.
Suwon’s Economic Revival
Initially, one might wonder how Suwon managed to weather the economic storm. Mayor Lee proudly shared that, despite the upheaval, the city successfully "overcame economic downturns" and established a "driving force for greater development in the future." His social and economic policies, embodied in the catchphrase “Renewed Suwon, Radiant Citizens,” have been pivotal. These policies are designed to revitalise the city’s economy and enhance the living conditions for its people.
Saebit Civil Service Office and Fund
One standout initiative that Lee introduced is the Saebit Civil Service Office. Staffed by nine seasoned public workers, it handles city government inquiries with remarkable efficiency. Such effectiveness not only speeds up processing times but also received national acclaim, earning the Presidential Award in 2024.
In addition, the Saebit Fund stands out as a highlight of Lee’s policy accomplishments. The fund, a city government endeavour, aims to invest in Suwon-based companies that show technological promise and potential for growth. To date, this fund has amassed a commendable 314.9 billion won (approximately $217 million). This substantial sum, tripling its initial target, will be directed into promising corporations from 2025 onwards.
Suwon Pay and High-Tech Investments
Lee remains ever-optimistic about 2025 being a year of "great transformation" for Suwon. His plans include not only investment in high-tech firms but bolstering local businesses via Suwon Pay. This digital currency operates similar to a prepaid voucher, aiming to stimulate local spending. The annual budget for Suwon Pay has seen a twofold increase to 41.1 billion won, with incentives bumped from a previous 6-7% to a generous 10%. During festive periods like Lunar New Year or Chuseok, incentives soar to 20%.
Shaping a High-Tech Future
Moreover, Lee has a grand vision: to cultivate Suwon into a "high-tech scientific city." His focus includes developing industrial hubs such as Gwanggyo Techno Valley and Suwon Delta Plex. The aim? To create an advanced science cluster, with future sites like Buksuwon Techno Valley and Uman Bio Valley in the pipeline.
Furthermore, the mayor envisions creating a free economic zone by transforming the Suwon Air Base site into “Korea’s Silicon Valley.” This zone will lure high-tech companies and research centres, propelling Suwon into a "creative, convergence city."
Job Opportunities and Employment Drives
Employment also remains a priority. The city plans to roll out 2,000 more job positions than last year. By hosting monthly job fairs, Suwon bridges the gap between employers and prospective employees, ensuring economic activity remains robust.
A Promising Horizon
To sum it up, Mayor Lee’s policies reflect his commitment to a brighter future for Suwon. By fostering high-tech innovations and nurturing business-friendly environments, Lee is paving the way for Suwon to emerge as a city of unparalleled potential. By leveraging his experience in urban design, Lee pledges to steward the city towards a prosperous future.