South Chungcheong Province

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South Chungcheong Province

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South Chungcheong Province, or Chungcheongnam-do (abbreviated Chungnam), is a province in the west of South Korea. The province was formed in 1896 from the south-western half of the former Chungcheong Province and remained a province of Korea until the country's division in 1945, thereafter becoming part of South Korea. In 2012, the provincial capital moved from Daejeon to Hongseong. Chungnam is South Korea's richest province, with a 2010 GDP per capita of $47,516, a level of living standard higher than that of the United States. It is by far South Korea's fastest growing region, with an average GDP growth of 9.7% in 2001-2007 that accelerated to 12.4% in 2010. Such rapid growth transformed it from a mostly agricultural to a highly industrialized economy in the 21st century. Chungnam is the only province outside the Seoul National Capital Area to be served by Seoul Subway Line 1, with multi-million dollar projects such as New Asan City centered on the newly-built Cheonan-Asan Station, that connects Chungnam's largest city, Cheonan, to Seoul Station in less than 30 minutes via the KTX bullet train.