The regional development plan is a statutory plan de ned in the “Special Act on Balanced Na- tional Development” (enacted in 2004). In 2009, the plan was reorganized from the Five-Year Plan for Balanced National Development to a Five-Year Regional Development Plan. The early balanced development plans focused on relocating public institutions in the Seoul Metropolitan Area to dif- ferent provinces for balanced development, as well as constructing the Multifunctional Administrative City (Sejong-si) and innovation cities. These ef- forts aimed at creating regional innovation clusters
The First Regional Development Plan, prepared in 2009, presented a vision of linking “5+2” eco- nomic regions for better cooperation and growth. Specific policies to build economic growth mo- mentum included building techno-parks, inno- vation clusters, and talent development centers. A flagship project appropriate for each economic region was implemented. The Second Regional Development Plan, prepared in 2014, focuses on improving the quality of life for residents in step with the HOPE (Happiness, Opportunity, Partner- ship, Everywhere) Project announced in 2013.