Construction Halted, Building Left as an Eyesore... Accepting Applications to Support Redevelopment Projects

(Data from the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Jeon Mewon] A new plan is being promoted to renovate buildings that have become eyesores in urban areas due to construction halts.

The Ministry of Land, Infrastructure and Transport announced on the 13th that from the 14th, it will open the 6th round of pilot project applications nationwide to accelerate the renovation of buildings with halted construction.

According to the second nationwide survey on buildings with halted construction conducted last year, there are 322 such buildings across the country. These buildings not only spoil the cityscape but also cause various crimes and accidents.

Since 2015, the Ministry has selected pilot projects five times to support these halted construction buildings by establishing development plans, starting construction, and managing projects.

The 6th pilot project will be carried out for buildings selected through a fair evaluation among projects applied for by local governments by the 14th of next month.

If selected as an urban regeneration project, support such as construction cost subsidies and loans can be provided, enabling early results in renovation projects.

Kim Sangmun, Director of Building Policy at the Ministry of Land, Infrastructure and Transport, said, "Since the renovation of abandoned buildings is closely related to public safety, we urge active interest from local governments so that as many as possible can participate in this call for applications."

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