From Crisis to Opportunity: Myung Chang-hwan’s Bold Plan for Yeosu’s Economic Revival

On March 10th, Myung Chang-hwan, the 58-year-old former Vice Governor of Jeollanam-do Province and member of the Corea Reform Party, officially announced his candidacy for mayor of Yeosu.

During a press conference at Yeosu City Hall, Myung stated, “Yeosu isn’t merely experiencing an economic downturn; it’s facing a structural crisis.” He highlighted that the national industrial complex’s operating rate has fallen below 70%, tourism has drastically declined, and there’s been a significant exodus of residents, particularly young people. Myung attributed these issues to years of political and administrative negligence.

“We’ve moved past the point where band-aid solutions will suffice,” he emphasized, stressing the need for a fundamental overhaul to simultaneously revitalize industry, improve livelihoods, and secure the city’s future.

Myung pledged to leverage his position within the Corea Reform Party to collaborate with the Democratic Party in securing and effectively allocating government funds.

Drawing on his extensive experience as Vice Governor of Jeollanam-do, Director of Planning and Coordination, and Deputy Mayor of Suncheon, Myung asserted, “I’ve been directly responsible for securing federal budgets and resolving local issues. What Yeosu needs now isn’t empty rhetoric, but effective leadership that can bridge the gap between the federal government and Jeollanam-do, maintain a keen focus on local realities, and see initiatives through to completion.”

His key policy proposals include diversifying the local economy beyond petrochemicals into robotics, semiconductors, batteries, and secondary batteries; pursuing federal designation as a specialized industrial complex; establishing a hydrogen energy value chain; developing high-value specialty industries; and creating an industrial complex office to address business challenges and attract investment directly.

Furthermore, Myung plans to bolster the region’s historical and cultural appeal by restoring the Jeolla Left Naval Base as a national project, establishing a peace park commemorating the Yeosu-Suncheon Rebellion, and developing comprehensive content around Admiral Yi Sun-sin. Following the successful island expo, he aims to make Yeosu’s islands a cornerstone of growth by regularizing an island art festival and securing special development zone status.

Myung Chang-hwan is a graduate of Suncheon High School and holds a degree in Public Administration from Chonnam National University. His public service career began in Yeosu after passing the inaugural local senior civil service exam in 1996. He served in key roles within the Jeollanam-do government before retiring as Vice Governor.