Yeongcheon, North Gyeongsang Province, is a depopulating area where there are growing concerns that the population could fall below 100,000. As the outflow of young people and aging deepen the risk of the area disappearing, Yeongcheon is putting forward the "horse industry" as a new growth engine. At the center is Let's Run Park Yeongcheon, which is set to open in September.
On the afternoon of the 18th, signs of the local community's anticipation for the opening of the race park could be found throughout downtown Yeongcheon. Banners welcoming the opening of Let's Run Park Yeongcheon were hung at major shopping districts and intersections. Kim Seong-gil, a citizen met near the Gyo-dae four-way intersection in Yeongcheon, said, "When the race park opens, won't many outside tourists come?" and noted, "They say new jobs will be created in the area, so expectations are high."
North Gyeongsang Province and Yeongcheon city expect the opening of Let's Run Park Yeongcheon to become a key project to attract tourists, create jobs, and expand local government tax revenue, thereby responding to the risk of the area disappearing. The plan goes beyond a simple racing facility to build a horse industry ecosystem that links riding, tourism, education, and urban development.
◇ Economic ripple effect of 1.8 trillion won… local government tax and job creation expected
According to the Korea Racing Authority (KRA) on the 23rd, the economic ripple effect from building Let's Run Park Yeongcheon and creating and operating ancillary facilities is estimated at about 1.8 trillion won. The leisure tax imposed on betting tickets each time races are held is also expected to become a new local revenue source.
The leisure tax generated on typical race days averages 300 million to 400 million won. Considering that North Gyeongsang Province and Yeongcheon city promised a 50% leisure tax reduction for Let's Run Park Yeongcheon for 30 years, actual revenue is expected to be about 150 million to 200 million won per race day. If races are held as scheduled for 72 days in the first year of opening, the leisure tax generated by year's end is expected to reach about 10.8 billion to 14.4 billion won.
Let's Run Park Busan-Gyeongnam, which opened in 2005, is a representative case showing the impact of a race park on the local economy. The local government tax paid by the Busan-Gyeongnam race park over the past 20 years exceeds 3 trillion won. It has also directly created 1,400 jobs.
By equipping not only a racetrack but also a horse-themed park and other facilities, it has become a leisure and rest space for local residents. North Gyeongsang Province and Yeongcheon city also expect Let's Run Park Yeongcheon to be operated as a complex cultural space where family visitors can stay, rather than a facility where tourists watch races and leave.
◇ Racing, riding, and education in one place… aiming to become the "capital of the horse industry"
Yeongcheon plans to use the opening of Let's Run Park as a springboard to develop the city into the "capital of Korea's horse industry," encompassing racing, riding, tourism, and education. Centered on Let's Run Park, the city aims to consolidate already established riding facilities and professional training institutions in the area to build an ecosystem in which production, education, experience, and consumption in the horse industry all take place in one region.
Even before attracting the race park, Yeongcheon steadily laid the groundwork for the horse industry. In 2013, it enacted the local government ordinance on horse industry promotion and support, and pushed for the launch of a local riding team, the fostering of rural riding centers, and modernization of riding facilities. In 2015, it was designated by the Ministry of Agriculture, Food and Rural Affairs as the first inland special zone for the horse industry, excluding Jeju Island.
Among the key infrastructure for the horse industry is the Unjusan Riding Training Center, which opened in Imgogh-myeon in 2009. Covering a total area of 165,290 square meters, the Unjusan Center is the nation's first horse industry convergence complex directly operated by a local government. It runs saddle horse training, riding education, and experience programs, serving as a foundation for Yeongcheon's horse industry.
Local university Seongun University operates a smart riding education system through the "AI Department of the Horse Industry," using AI cameras and biometric data. It trains professionals such as nationally certified horse trainers, therapeutic riding instructors, and farriers, and supplies them to race parks and riding facilities nationwide.
When Let's Run Park opens, Yeongcheon will have a horse industry ecosystem that consolidates the racing industry, riding culture, and professional training in one area. The structure assigns industry to Let's Run Park, riding experiences and culture to the Unjusan Riding Training Center, and education and talent development to Seongun University.
◇ Extending the urban rail and developing station areas… aiming even to attract new residents
Expansion of transportation networks and development of a hinterland city will proceed together. Yeongcheon city is planning an urban development project around newly built station areas in connection with the extension of Daegu Urban Railway Line 1 to Geumho and the race park, a project under way with a goal of opening in 2030.
Yeongcheon city believes that once the rail opens, access from downtown Daegu to Let's Run Park will improve significantly, which could simultaneously boost tourist inflows and resident settlement. The plan is to tie the race park, the rail station, and residential and commercial facilities into a single living area to create a new regional hub.
An official from Yeongcheon city said, "A complex urban development that integrates the new rail network, the old downtown, and Let's Run Park Yeongcheon will be the key driver to catch two birds at once: attracting new residents and revitalizing commercial districts."
Yeongcheon also has deep historical ties with horses. During the Joseon era, the Joseon Tongsinsa envoy party bound for Japan changed horses in Yeongcheon, and along the Geumho River, masangjae, a traditional equestrian martial art performed on horseback, was staged for the envoys.
An official from the Korea Racing Authority (KRA) said, "Yeongcheon is a 'city of horses' that has both a long history and an existing horse industry base," adding, "In the midst of the risk of regional extinction, the new growth economic model centered on the horse industry presented by Yeongcheon city is drawing attention."