14 Trillion Invested to Kick Off Development of 'Seodaegu Station Area'... Investment Briefing Held in Seoul

Corporate Briefing for the Private Sector at Baekbeom Kim Koo Memorial Hall, Seoul on the 22nd

Aerial perspective of the Seodaegu Station transit-oriented development area.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Park Dong-wook] Daegu City announced on the 19th that it will hold a corporate investment attraction briefing session for the 'Seodaegu Station Area Development Project' at 2 p.m. on the 22nd at the Baekbeom Kim Koo Memorial Hall in Seoul.

In September last year, Daegu City announced the 'Seodaegu Station Area Grand Development Future Vision,' which aims to revive Seodaegu through comprehensive development around Seodaegu Station and transform it into a future economic city open to the world. Subsequently, the planned development site of 300,000 pyeong was designated as a land transaction permission zone for management.

The Seodaegu Station Area Development Project is a mega project investing 14 trillion won over 10 years until 2030 to develop the Ihyeon-dong area in Seo-gu into a complex transfer center, sports town, residential-commercial complex apartments, and to underground the sewage treatment plant. The Ihyeon-dong plaza site has been neglected for 55 years since it was designated as an urban planning facility (station plaza) in 1965.

This corporate briefing session is the first step to visualize the future vision of Seodaegu Station Area development and aims to encourage participation by providing information on support measures and participation procedures for private investment.

At the briefing, information on the project contents, support measures, eligibility, participation methods, and schedule for the 'Seodaegu Station Area Public-Private Joint Investment Urban Development Project' (tentative name) will be provided. Procedures such as registration of letters of intent and proposal submissions for interested companies will be conducted.

The main proposal target of this project is the development of approximately 160,000 pyeong (540,000㎡) including the area around Seodaegu Station and the site of the sewage treatment plant. The project plan is centered on the development direction presented in the Seodaegu Station Area Development Future Vision announcement (September 2019).

The proposal site is located at a transportation hub close to the Gyeongbu Expressway, Jungbu Inland Expressway, and Sincheon-daero. It is a place where high-speed trains (KTX, SRT), metropolitan rail (opening in 2023), and the Daegu Industrial Line (targeted to open in 2027), which is being promoted as a preliminary feasibility exemption project, stop, centered on Seodaegu Station.

In addition to the future Daegu-Gwangju Dalbit Railroad and new transportation (such as TRAM) being promoted, if it develops into an airport hub city through the airport railroad and airport terminal, it will become the best inland transportation hub and have excellent investment conditions.

Mayor Kwon Young-jin stated, "As the local economy is struggling due to the novel coronavirus infection (COVID-19), large-scale projects that can revive the economy, such as the Seodaegu Station Area development, will be actively promoted," and added, "We will prepare active support measures and attract excellent private businesses to speedily and successfully advance the Seodaegu Station Area development."

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