Chilgok-gun Waegwan-eup Reborn Through Urban Regeneration New Deal Project... 50.5 Billion Won National Funding Invested

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Waegwan-eup, Chilgok-gun, Gyeongbuk, has been selected as a district for the Urban Regeneration New Deal project and will be reborn as a city equipped with an administrative and cultural complex platform.

According to Gyeongbuk Province on the 17th, Chilgok-gun was selected for the Ministry of Land, Infrastructure and Transport's Urban Regeneration New Deal project competition, securing a total project cost of 50.5 billion KRW. The Urban Regeneration New Deal project competition is a government urban living environment improvement project aimed at revitalizing declining cities due to population decline and changes in industrial structure by injecting new functions.

Gyeongbuk Province plans to create new urban spaces by 2023 in the Waegwan-eup area of Chilgok-gun, promoting an administrative and cultural complex platform, improving the environment of aging residential areas, and creating a humanities commercial street environment. The Gyeongbuk Development Corporation, which will oversee this project, plans to support 30 public rental housing units, 30 home repairs, and alleyway maintenance, and actively support the project by dispatching experts to ensure smooth progress.

Baek Yong-su, Director of the Construction and Urban Bureau of Gyeongbuk Province, stated, "We will do our best to ensure that many regions are selected as urban regeneration project sites through active cooperation with cities and counties in the remaining Ministry of Land, Infrastructure and Transport competitions this year."

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