Worried About Our Community Regeneration?… Try Supporting the Urban Regeneration Resident Capacity Building Project

[Asia Economy Reporter Chunhee Lee] Opportunities are being created for local residents to directly participate in urban regeneration.

The Ministry of Land, Infrastructure and Transport announced on the 22nd that it will select regions preparing urban regeneration projects through a public contest for the 'Urban Regeneration Resident Capacity Building Project' to activate resident participation in the Urban Regeneration New Deal projects.

This contest project involves teams formed by local urban regeneration support centers and residents discovering various regional revitalization business items such as community services, guesthouse operations, and production and sales of local specialties. The government will support these projects with expert consulting, operational expenses, and partial initial project costs to realize the business.

The application period is from the 23rd to the 8th of next month and will be announced on the Urban Regeneration Comprehensive Information System website. Interested urban regeneration support centers should submit their applications to the metropolitan local governments, which will compile and forward them to the Korea Institute of Design Promotion.

To enhance project effectiveness, the previously separate 'Resident Participation Project Team' and 'Commercialization Support' projects have been integrated. With this integration, residents participating in the project will receive support throughout all stages from project planning to realization, including expert consulting to help conceive project ideas and partial funding for initial project costs.

The Resident Capacity Building Project will be operated over a total of six months, divided into two phases of three months each. In the first phase, starting next month, 20 teams nationwide will be selected and provided with expert consulting for three months to concretely plan their projects. A budget of 5 million KRW will be supported for planning expenses.

Then, from August, in the second phase, 10 teams with outstanding performance among the 20 will be selected and supported to realize their projects with a subsidy of 15 million KRW for initial project costs and an additional three months of expert consulting. In October, a gathering called Urban Regeneration Hanmadang will be held to share all the results together.

Jo Sungkyun, Director of Urban Regeneration Capacity at the Ministry of Land, Infrastructure and Transport, said, "The Urban Regeneration New Deal project can achieve greater effects when resident capacity building and the participation base of residents and local communities are firmly established. As it will serve as a catalyst to strengthen local resident capacities, we hope that many regions planning to promote Urban Regeneration New Deal projects will take a keen interest and apply."

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