Neighborhoods Are Rapidly Changing... Busan Urban Regeneration New Deal Project Smoothly Progressing

Acquisition of Small-Scale Regeneration Projects in Beomcheon-dong, Banyeo-dong, and Jangjeon-dong

Gupo Youth Center, scheduled to be completed this year. It is part of the Urban Regeneration New Deal project.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Yong-woo] This year, three urban regeneration projects in Beomcheon-dong, Banyeo-dong, and Jangjeon-dong were selected in Busan for the national public contest projects that are being newly renovated in neighborhoods.

Busan City announced on the 24th that three projects were selected for the 2020 ‘Small-scale Regeneration Project’ by the Ministry of Land, Infrastructure and Transport, and that the projects will be promoted with a total budget of 780 million KRW, including 390 million KRW in national funds and city funds.

The three selected locations are Beomcheon-dong in Busanjin-gu, Banyeo-dong in Haeundae-gu, and Jangjeon-dong in Geumjeong-gu. The goal of the projects is to reorganize deteriorated neighborhoods, create new resident convenience spaces, and revitalize the village community to secure urban competitiveness.

Beomcheon-dong named its project ‘Connecting the Lights of Life: Hocheon Renaissance Project.’ The plan includes renovating village roads and installing emergency fire extinguishing device boxes to improve residential welfare levels.

Banyeo-dong is carrying out the ‘Sokdaksokdak Sam-eo Power Plant Project.’ It aims to realize resident-led urban regeneration through improving convenience spaces in the aging village and operating cultural programs.

Jangjeon-dong’s project is titled ‘Busan University Road Vitality UP!’ It intends to achieve urban regeneration by overcoming the economic recession, revitalizing local commercial districts and resident councils, solving village problems, and strengthening resident capabilities.

The small-scale regeneration project is a program where residents directly discover and apply for small-scale projects that produce results within 1 to 2 years, and through a public contest, up to 200 million KRW in national funds is provided per project.

This is a small branch project of the ‘Urban Regeneration New Deal Project,’ serving as a pilot project that allows residents to directly experience regeneration projects and feel the outcomes before the main New Deal project.

Since starting the ‘Busan Eurasia Platform Economic Base Urban Regeneration New Deal Project’ in 2014, the city has secured a total of 134 billion KRW in national funds up to last year, promoting the largest number of urban regeneration New Deal projects among metropolitan local governments.

Kim Gwang-hoe, Director of the Urban Balanced Regeneration Bureau of Busan City, said, “Based on our experience with urban regeneration projects so far, we plan to create a Busan that residents can feel by revitalizing village communities and improving parking lots, parks, and aging buildings.”

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