With South Korean officials set to move into their sparkling new "mini capital" next month, Chico Harlan examines plans for the new city that "will either drive growth outside the overpopulated capital or end up as an ill-conceived waste of money."
Not to be confused with New Songdo City, the green business hub outside of Seoul, the plan for $20 billion Sejong City is for the "built-from-scratch bureaucrat's paradise" to help reduce the economic gap between Seoul and the rest of the country.
With a population expected to reach 500,000 by 2030, Sejong City is
intended to function as a mini-capital with 36 governmental ministries
and agencies relocating there from Seoul. The plan isn't without its
critics though, including former prime minister Chung Un-chan, who
believes, "It will be almost paralyzing for government operations."
According to Harlan, "Politicians have tried, with little success, to feed growth in
farther-flung regions, with tax incentives and a plan for 10 "innovation
cities" as breeding grounds for industry and private research."
"'There
have been, like, 500 policies to help re-balance the country, and they
have all failed,' said Yook Dong-il, a professor at Chungnam National
University, a 15-minute drive from Sejong. 'But they have all been
micro-policies, nothing as big as the plan with Sejong.'"
Thanks to Daniel Lippman
FULL STORY: With new Sejong City, South Korean government aims to rebalance power

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