Songpa-gu-SH, Development of Songpa ICT Security Cluster and Seongdong-gu Prison Site

"Efficient Use of Underutilized, Aging Facilities and Idle Land"... "Enhancing Public Convenience and Quality of Life with SH and Residents"

Park Seong-su, Mayor of Songpa District (left), and Kim Se-yong, President of SH Corporation (right), are holding up the agreement after signing the "Business Agreement for the Efficient Use of Public Land" at Songpa District Office on the 25th.

[Asia Economy Reporter Jong-il Park] Songpa-gu (Mayor Park Seong-su) signed a Memorandum of Understanding (MOU) with Seoul Housing and Communities Corporation (SH) to establish efficient utilization plans for shared land within the district.

Songpa-gu is currently undertaking various large-scale projects such as the development of the Seoul International Exchange Complex District, the Songpa ICT Security Cluster complex development, the redevelopment of the former Seongdong Detention Center site, and the Pungnap-dong urban regeneration project.

However, there are numerous aging public facilities and unused idle sites scattered throughout the area that are underutilized compared to surrounding conditions and land value, prompting concerns about their efficient use.

Therefore, on the 25th, Songpa-gu held a 'Business Agreement for the Efficient Utilization of Shared Land' with SH at the Songpa-gu Office.

Through this agreement, the two organizations will share information to discover shared land development projects and provide mutual support. They also plan to establish utilization, operation, and management plans for developed shared land and cooperate on various pending projects such as securing public facility sites in Songpa-gu.

In particular, they plan to create resident-friendly spaces by redeveloping aging public offices such as the Garakbon-dong Community Center into mixed-use developments that include various convenience and public facilities.

The MOU is valid for three years from the date of signing. However, if neither party expresses intent to terminate the agreement at least one month before the expiration date, the agreement will be automatically extended.

Kim Se-yong, President of SH, commented, “Cities will change significantly in the post-COVID-19 era. It is highly meaningful to join forces with Songpa-gu at this time to promote urban three-dimensionalization and complex development.”

Park Seong-su, Mayor of Songpa-gu, stated, “We will establish a close cooperative system with SH. Through this agreement, we aim to maximize the potential of land and create a Songpa where residents enjoy high public convenience and quality of life.”

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