Daegu, a city in South Korea, is facing a significant economic crisis, with its per capita Gross Regional Domestic Product (GRDP) at a staggering 3,137,000 KRW, marking the lowest in the nation for 30 consecutive years. This alarming statistic highlights the city’s struggle to keep pace with the national average, which stands at approximately 63% higher. The situation is further exacerbated by a projected economic growth rate of -0.8% for 2024, making Daegu the only metropolitan area in South Korea expected to experience negative growth.
The city’s employment rate is also concerning, with figures indicating that it ranks last among the 17 provinces and cities in South Korea. The youth demographic is particularly affected, with a significant outflow of young residents seeking better opportunities elsewhere. This trend raises questions about the future of Daegu’s workforce and economic viability.
In light of these challenges, mayoral candidate Kim Boo-kyum has vowed to address these issues head-on, promising realistic policies based on his extensive experience in government. His campaign, aptly named the ‘Hope Camp,’ aims to restore faith in local governance and tackle the pressing issues of economic decline and youth unemployment. As Daegu stands at a crossroads, the question remains: can new leadership turn the tide for this struggling city?
Original source: http://www.sisayonhapnews.com/news/articleViewAmp.html?idxno=46699