Busan Bukhang Area Shantytown Reborn Through Urban Regeneration New Deal Project

(Photo by Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] The shantytown near Busan North Port will be renovated through the Urban Regeneration New Deal Project.

The Ministry of Land, Infrastructure and Transport, Busan Metropolitan City, and Busan Dong-gu Office announced the 'Urban Regeneration Plan for Housing Vulnerable Areas in Dong-gu, Busan' on the 25th.

There are many shanties scattered in Dong-gu, Busan, but they are dispersed in small clusters. Therefore, the government will not renovate them all at once but will proceed with the project in phases.

The area around Jwacheon Station, where housing conditions are very poor and renovation is urgent, will be renovated in the first phase, and the area around Choryang Station, where many non-residential residents such as motels and goshiwons live, will be renovated in the second phase in the future.

The Korea Land and Housing Corporation (LH) will participate as the overall project manager.

First, within the 17,000㎡ housing vulnerable area near Jwacheon Station, shanties will be demolished with residents' consent, and 425 public housing units (340 public sale units and 85 public rental units) will be supplied. The project cost is approximately 130 billion KRW.

(Photo by Ministry of Land, Infrastructure and Transport)

During the housing environment improvement project, relocation spaces will be provided to residents. The relocation spaces will be created on a scale of 100 units through the construction of circular rental housing and the purchase of nearby apartments.

The building of Jwacheon Elementary School, which was closed in 2018, will be remodeled into a hub facility equipped with cultural, welfare, educational, and convenience facilities.

Narrow and steep alleys will be renovated to create a pedestrian environment that is comfortable for the elderly and disabled, and vacant houses and empty lots will be turned into small parks and resting areas for residents.

The housing environment improvement project will finalize the renovation plan within the year after review by the local urban planning committee, with construction starting in 2022 and occupancy targeted for 2025. The Urban Regeneration New Deal Project will be fully promoted from next year after selection through the review of the Urban Regeneration Special Committee.

Minister of Land, Infrastructure and Transport Kim Hyun-mi emphasized, "We will do our best to improve housing welfare and restore urban vitality through collaboration with local governments, public institutions, and local communities."

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