Gwanggyo Lake Park in Suwon, Gyeonggi Province (Suwon)
Gwanggyo Lake Park in Suwon, Gyeonggi Province (Suwon)

The city of Suwon, Gyeonggi Province, has experienced two major turning points — first in 1796 and again in 1949. With significant policy-driven changes set in motion following announcements in late 2024, the city prepares for a third transformation.

In 1796, Suwon Hwaseong Fortress was erected in the city, making Suwon the country’s first planned city. Then, in 1949, Suwon officially earned its city status, having grown in size from a rural village of 50,000 people to become Korea’s largest basic municipality with a population of over 1.24 million.

Following the two previous transitions, Suwon is taking another leap forward with major changes in its economic, urban space and civic life sectors, in relation to development projects launched by Suwon Mayor Lee Jae-joon last summer.

Following is a look at some of the changes in store to Suwon’s economy, urban space and social welfare, based on key development projects that have been ongoing in the city.

Economic leap

Suwon has fueled economic advancements by signing investment agreements with high-tech companies, providing funding for local businesses’ corporate growth and launching initiatives to revitalize small businesses in the city.

In just 2024 alone, the city secured investment agreements with five companies, specializing in fields such as autonomous robots, in vitro diagnostic medical devices, special adhesive tape and optical inspection tape using artificial intelligence. In November, LaserVal Technology, a global company headquartered in Hong Kong, also announced that it would move its research facilities and factories to Suwon to attract local talent.

The city had attracted up to 10 corporate investments as of 2024, in just two years since it began seeking to lure in high-tech companies. Such investments are projected to continue this year, while the city also continues to build infrastructure for more R&D centers around the city.

Suwon Mayor Lee Jae-joon urges further support for corporate investments to revitalize the startup ecosystem, in a forum held at Suwon City Hall on June 27, 2024. (Suwon)
Suwon Mayor Lee Jae-joon urges further support for corporate investments to revitalize the startup ecosystem, in a forum held at Suwon City Hall on June 27, 2024. (Suwon)

Also in 2024, the city implemented a support system to help nurture local businesses in achieving explosive growth. Known as the Saebit Fund, the funding system provides financial support to companies in need of investment, while also hosting investment promotion events and specialized programs to provide technical assistance, networking opportunities and financial relief for local small and medium-sized enterprises.

Besides support programs for high-tech and local SMEs, the city has also committed itself to revitalizing small businesses by introducing financial aid programs to support struggling businesses, including low-interest microloans, a citywide discount and promotional events to boost consumer spending in the city.

Urban space development

Suwon has also seen developments in its transportation network and housing welfare, further enhancing the quality of life for residents.

In 2024, Suwon successfully laid the foundation to develop itself into a “Special Railway City,” with the Shinbundang Line scheduled to extend further from Gwanggyo Station to Homaesil-dong in western Suwon by 2029. The Dongtan-Indeogwon Line, a 38.3-kilometer subway line that will connect northern and southern parts of Gyeonggi Province, also begun construction last year. It is scheduled to be completed by 2028. The Great Train Express-C line, a higher-speed commuter train network connecting Seoul and surrounding metropolitan cities, similarly began construction last year, raising public anticipation for the expansion of commuting methods.

Continuing from last year, the city will also push ahead with the Gyeonggi Nambu Railway Project, which aims to link Seoul with cities in the Greater Seoul area such as Seongnam, Yongin, Suwon and Hwaseong, all of which are in Gyeonggi Province.

Suwon Mayor Lee Jae-joon (front, fourth from left) poses with participants of the Saebit House Promotional Center on June 18, 2024. (Suwon)
Suwon Mayor Lee Jae-joon (front, fourth from left) poses with participants of the Saebit House Promotional Center on June 18, 2024. (Suwon)

Suwon has made significant strides in housing welfare by expanding public support for home renovations and making the process easier and more accessible. Also known as the “Saebit House” initiative, support for improvements such as waterproofing, insulation upgrades and repairing house gates and fences have received a positive response from the city’s residents.

By the end of last year, 699 households had received support since the launch of the project in October 2023, according to the city government.

Welfare improvements

Since the launch at the beginning of last year of Suwon Saebit Care, a community-centered integrated care service for people in need of temporary or emergency care, the initiative has become deeply rooted across the city. As of November 2024, 3,598 people had benefited from the program, with 18,472 care services provided, according to numbers presented by the city government.

This program not only received positive responses from locals, but also received nationwide recognition, as it received the grand prize for two domestic contests recognizing local governments for their initiatives.

Welfare programs tailored toward individual needs based on the household’s characteristics were also introduced by the city in 2024. According to the city government, welfare programs benefited single-person households, seniors as well as the disabled and foreign nationals.

The closing ceremony of the Suwon Hwaseong Cultural Festival showcases a media art projected onto Suwon Hwaseong Fortress on Oct. 6, 2024 (Suwon)
The closing ceremony of the Suwon Hwaseong Cultural Festival showcases a media art projected onto Suwon Hwaseong Fortress on Oct. 6, 2024 (Suwon)

Meanwhile, Suwon hosted major cultural and artistic events that brought “vibrancy” to the city. Well known for its three fall festivals, including the Suwon Hwaseong Cultural Festival, the city attracted some 1 million visitors and generated 35.4 billion won ($24.4 million) in profits.