Seongnam City Takes First Place in Regional Innovation at the “Korea Regional Economy Awards”
Industrial cluster competitiveness of Pangyo Techno Valley and Seongnam High-Tech Valley recognized
Excellence award in overall city-level evaluation; third place in Economic Leadership
Fiscal self-reliance ratio of 57.2%, the highest among basic local governments nationwide
Seongnam, Gyeonggi Province, took first place in the Regional Innovation category of the “Korea Regional Economy Awards.” Its industrial clusters centered on Pangyo Techno Valley and Seongnam High-Tech Valley, along with its foundation for supporting businesses, received high marks.
Seongnam City, led by Mayor Shin Sangjin, said Friday that it won first place in the Regional Innovation category and third place in the Economic Leadership category of the “Korea Regional Economy Awards,” jointly organized by the Korea Regional Economics Association and the Korea Regional Economic Research Institute. The city also received an excellence award in the overall city-level evaluation.
The Korea Regional Economy Awards assess the economic performance of 243 local governments nationwide and recognize outstanding local governments.
This year’s evaluation was based on statistical data as of the end of 2024 and covered eight categories: jobs and employment, prices and consumers, business support, neighborhood economies, culture and tourism, agricultural economy, regional innovation, and economic leadership.
Seongnam City earned high marks in the Regional Innovation category on an industrial cluster evaluation index that takes into account factors such as the number of venture businesses and special economic zones.
In particular, the evaluation recognized the city’s support for business growth, startups, and technological innovation, built on Pangyo Techno Valley and Seongnam High-Tech Valley, two of South Korea’s leading high-tech industrial hubs.
The city also scored highly in the Economic Leadership category for its organizational capacity, efforts in fiscal management, and budget for its own projects.
As of 2024, Seongnam City’s fiscal self-reliance ratio stood at 57.2%, the highest among basic local governments nationwide.
Hot Picks Today
"Why Is the Amount in My Account So Low?"... Why Pension Savings Subscribers Were Surprised
- "After Sleeping Well with Strangers"... Who Is the 24-Year-Old Woman Who Won 19 Million Won?
- "SK hynix to Hit 4.7 Million Won, Samsung 670,000 Won"... Why Nomura's Bold Forecast justifies it
- "Even Underwear Has to Be Cut Up with Scissors"... China Hit by Rise of "Trash Hunters" in an "If You're Slow, You're Out" Scramble
- "NPS loses 240 trillion won, 1990s-born get zero pension"... What's behind rumors spreading after the KOSPI plunge?
A Seongnam City official said, “We will use this award as an opportunity to further improve the effectiveness of our regional economic policies,” adding, “We will continue to pursue policies to revitalize the local economy, including supporting business growth, creating quality jobs, and assisting small business owners.”
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
