Gyeonggi-do Secures 1,466 Parking Spaces This Year Through Parking Environment Improvement Project

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is promoting the 'Parking Environment Improvement Project' this year targeting old residential areas and downtown commercial districts within the province, aiming to secure 1,466 parking spaces.

The Parking Environment Improvement Project has been introduced and implemented by Gyeonggi Province since last year to resolve the chronic parking problems in old downtown areas.

This project supports facility costs with provincial funds when old houses are purchased and converted into small-scale parking lots, or when parking lots are created in religious facilities or commercial district clusters.

Last year, the province secured 2,727 parking spaces through this project. This year, the province will secure parking spaces divided into three categories: ▲ residential alley parking lots ▲ free opening of privately owned parking lots ▲ public parking lots in residential and commercial areas.

The residential alley parking lot category is a project where the city or county purchases old houses in downtown areas and Gyeonggi Province covers the installation costs so they can be used as small-scale parking lots.

Following the securing of 187 spaces last year, this year, the province plans to support 1.038 billion KRW in provincial funds to 18 locations in 6 cities/counties including Seongnam and Ansan, securing 148 parking spaces.

The free opening of privately owned parking lots category supports 50% of the parking lot installation costs, up to a maximum of 50 million KRW, if religious facilities or schools open their existing auxiliary parking lots for free for more than 35 hours per week.

After securing 484 spaces last year, this year, the province will support a total of 206 million KRW in provincial funds to 5 locations in 3 cities/counties including Suwon and Pyeongtaek, with 170 parking spaces to be opened for free.

The residential and commercial area parking lot category is a project that supports up to 30% of the installation costs for large-scale public parking lots targeting downtown or commercial district clusters.

Following the securing of 2,056 spaces last year, this year, 7 locations in 7 cities/counties including Bucheon and Namyangju will secure a total of 1,148 parking spaces. The province will support 4.956 billion KRW for this.

A provincial official stated, "This project is effective in reducing parking demand and increasing the number of parking spaces with a small budget," adding, "This year's project will create 1,296 new parking spaces and 170 parking spaces will be opened for free."

This content was produced with the assistance of AI translation services.