Daejeon City Applies for Designation as 'Urban Convergence Special Zone Leading Project'

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is set to designate a pilot project for the Urban Convergence Special Zone.

The city announced on the 16th that it will submit an application to the Ministry of Land, Infrastructure and Transport for the designation of the Urban Convergence Special Zone pilot project.

The Urban Convergence Special Zone is a project to create a high-density innovation space equipped with complex infrastructure such as industry, housing, and culture in the downtown areas of the five major metropolitan cities nationwide, including Daejeon, to attract companies and talent.

Through this project, the city plans to lay the groundwork for achieving work-life balance by creating new jobs within the region and establishing a future lifestyle-leading residential environment.

In particular, by creating innovative startup convergence and complex spaces and securing quality residential spaces near workplaces, the city expects significant reductions in commuting times. Additionally, this is seen as advantageous for attracting innovative companies and young talent.

Going forward, the Ministry of Land, Infrastructure and Transport is expected to select project sites after additional investigations such as on-site inspections of candidate locations in the Daejeon area, and then proceed with establishing basic plans, enacting special laws, and designating special zones, enabling the full-scale promotion of the Urban Convergence Special Zone development project starting in 2022.

Meanwhile, the Ministry of Land, Infrastructure and Transport’s National Balanced Development Committee announced the Urban Convergence Special Zone development plan on the 23rd of last month.

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