Yangcheon-gu Sinwol 3-dong Selected for 2020 Ministry of Land, Infrastructure and Transport Urban Regeneration New Deal Project

Additional 22.5 Billion Won Secured for Urban Regeneration Over Next 4 Years...Total 81.6 Billion Won New Deal Projects Including Smart Urban Regeneration Planned

[Asia Economy Reporter Jong-il Park] Yangcheon-gu (Mayor Kim Soo-young) announced that Sinwol 3-dong 176 area (106,023㎡) has been finally selected for the 2020 Ministry of Land, Infrastructure and Transport (MOLIT) Urban Regeneration New Deal Project.

Sinwol 3-dong was selected in April 2019 for the ‘Seoul-type Urban Regeneration Activation Project’ to revitalize the area, securing a budget of 10 billion KRW over five years. With the selection for this ‘MOLIT Urban Regeneration New Deal Project,’ an additional 15 billion KRW in project funds has been secured.

Furthermore, it was also selected as a MOLIT Smart Urban Regeneration New Deal site, achieving the remarkable feat of securing a budget of 7.5 billion KRW.

Sinwol 3-dong, which had its maintenance planned zone designation lifted in March 2017, had long faced concerns of regional decline due to the lack of proper local maintenance plans, insufficient cultural and educational facilities, and aircraft noise causing many young residents to leave.

The district has worked with residents to identify and solve local issues to revitalize Sinwol 3-dong, confirming the potential for village regeneration. The Sinwol 3-dong Urban Regeneration Field Support Center was established to actively conduct urban regeneration resident education, promotion, and resident group activation programs.

Additionally, memorandums of understanding were signed with Yangcheon Police Station, Soongsil University, Seoul Housing and Communities Corporation, and Korea Airports Corporation to steadily prepare for the ‘MOLIT New Deal Project.’

MOLIT selected Sinwol 3-dong as the urban regeneration New Deal project site through an in-depth evaluation by a panel of experts from various fields including urban and architectural sectors, community, and social economy, involving document review, on-site inspection, and presentation evaluation.

A district official stated, “Sinwol 3-dong received high evaluations for the necessity and urgency of urban regeneration, resident community, and the autonomous district’s willingness to proceed.”

With this New Deal project selection, from next year through 2024, Sinwol 3-dong will receive an urban regeneration seed budget of 15 billion KRW (10 billion KRW national funds, 5 billion KRW city and district funds) and a smart urban regeneration seed budget of 7.5 billion KRW (3 billion KRW national funds, 4.05 billion KRW city funds, 450 million KRW district funds). Together with the existing 'Seoul-type Urban Regeneration Activation Project' (9 billion KRW city funds, 1 billion KRW district funds) and related projects, a total of 81.6 billion KRW scale New Deal projects will be implemented step-by-step.

First, the plan is to create a ‘vibrant village where three generations want to live together’ through the establishment of the Sinsam Village Cultural Development Center, renovation of the village central street, reorganization of Gyeongin Children's Park, housing improvement in Sinsam Village, Sinsam Living Lab, Sinsam Dodum Center, safety village establishment, and fostering resident experts.

Moreover, through IoT technology in the smart urban regeneration project, the district expects to create a people-centered, pleasant residential environment by eliminating CCTV blind spots, creating smart alleys, implementing a smart shared parking system, and establishing a trash-free Sinsam Village.

Kim Soo-young, Mayor of Yangcheon-gu, emphasized that securing an additional 22.5 billion KRW (15 billion KRW for urban regeneration, 7.5 billion KRW for smart regeneration) through this New Deal project is an achievement made together with the residents. He stated, “We will establish urban regeneration governance with the managed residential environment improvement projects in Sinwol 1 and 5-dong and the Sinwol 1-dong urban regeneration activation project currently underway in nearby areas, leading balanced and successful urban regeneration throughout Sinwol-dong and transforming the area into a vibrant community.”

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