CHANGWON — South Gyeongsang Province is building a tightly woven welfare net spanning generations, from asset building for young adults to support for middle-aged residents and retirement income security. The plan calls for reinvesting revenue generated by industrial growth into residents' lives, creating a structure in which economic growth and welfare reinforce each other.
The province said on the 17th that its ninth elected administration will expand and restructure the existing Gyeongnam Residents' Pension while rolling out generation-specific welfare programs, including a youth pension, a second residents' pension, 4050 welfare points and a residents' membership card. The programs aim to help young adults build assets and settle in the region, narrow welfare gaps for middle-aged residents who have received relatively little support, and strengthen the retirement income safety net.
Funding is the key question. With the pension expansion and a range of new welfare programs, some worry the fiscal burden could grow. The province said spending cuts alone cannot cover rising welfare demand, and it plans to consolidate similar and overlapping programs to concentrate resources on initiatives residents feel most directly. For programs that can be linked to central government policy, the province plans to secure national funding to ease the burden on local finances.
The province says it will maintain fiscal soundness. It has issued no local government bonds over the past four years, according to the province. It will commit funds to necessary welfare programs while keeping bond issuance to a minimum. Over the longer term, it will also create a welfare fund. The 100 billion won annual fund pledged in the governor's campaign platform will be assembled flexibly, taking fiscal conditions into account.
Support tailored to women's life stages will also expand. A psychological counseling center for infertility patients and expectant mothers, currently operating in Changwon, will be joined by an additional site in the western part of the province by 2029, and public postpartum care centers will be built in Sacheon and Geochang by 2028. Support for childcare, grandparent-provided childcare and school-vacation meals for elementary school students will also be expanded. The province plans to support women's entrepreneurship and economic participation using five business incubation spaces in the province as hubs.
Job and housing policies to keep young adults in the region will run alongside those efforts. Outflows of young residents from South Gyeongsang Province hit an eight-year low, and residents in their 30s posted net inflows for a second straight year. To turn that into a lasting settlement trend, the province will expand industry-academia programs that train students for specific jobs, such as the Korea Aerospace Industries (KAI) track. It will also add rental dormitories designed for young workers at sites including the Changwon National Industrial Complex, pairing jobs with housing.
"What matters is tailored welfare, a 'tweezers policy' that delivers real help to the people who need it, rather than simply spending a lot of money," Governor Park Wan-su said. "We will grow our finances through industrial growth and return that revenue to residents, creating a virtuous cycle."
