KAMCO Entrusts Development of Icheon Youth Life Culture Center Worth 30 Billion KRW

School Facility Complex Project with a Total Floor Area of 8,500㎡, 4 Above-Ground Floors and 1 Basement Floor

[Asia Economy Reporter Park Sun-mi] KAMCO (Korea Asset Management Corporation) announced on the 4th that it has signed a consignment contract with Icheon City for the construction of the 'Icheon City Youth Life Culture Center' worth approximately 30 billion KRW.

Following the signing of the consignment contract, KAMCO plans to obtain project approval within the year and construct a Youth Life Culture Center with a total floor area of 8,500㎡, consisting of 4 above-ground floors and 1 basement floor, on a vacant lot in front of Icheon Jeil High School by April 2024.

This project is part of the '2020 School Facility Complexification Project' selected under the government's three-year Life SOC plan. It is being promoted through a collaborative approach among the government, education office, and local government to timely provide educational and cultural facilities needed by school members and the local community via KAMCO's entrusted development of public property.

KAMCO expects that the culture center, built as a Life SOC complex facility enabling specialized education for cultivating advanced technology talents as well as cultural and sports activities, will contribute to improving the youth education environment and enhancing the quality of life for local residents.

Namgung Young, Head of KAMCO's Public Development Headquarters, said, “We hope that this Icheon City Youth Life Culture Center complex project will help nurture future talents and improve welfare for local residents. Going forward, KAMCO will continue to expand community-based Life SOC projects to contribute to enhancing public convenience.”

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