Yeongdeungpo-gu and LH Collaborate to Promote Customized Urban Regeneration

Gu signs basic urban regeneration agreement with Korea Land and Housing Corporation (LH) on the 8th... Currently conducting complex development projects with LH including jjokbangchon and Yeongjin Market

[Asia Economy Reporter Park Jong-il] Yeongdeungpo-gu (District Mayor Chae Hyun-il) signed a basic urban regeneration agreement on the 8th with Korea Land and Housing Corporation (LH) to discover and implement customized urban regeneration projects tailored to the characteristics of Yeongdeungpo-gu.

The agreement ceremony held at 2 p.m. on the 8th in the Planning Situation Room of the Yeongdeungpo-gu Office main building was attended by Chae Hyun-il, Mayor of Yeongdeungpo-gu, Oh Seung-sik, Head of the Seoul Regional Headquarters of Korea Land and Housing Corporation, district office staff, and officials from Korea Land and Housing Corporation.

Through this agreement, the two organizations agreed to conduct joint research to establish urban regeneration strategies and commercialization plans, and to discover and promote customized urban regeneration projects that residents can directly experience, targeting areas lacking basic living infrastructure and with declining urban functions.

The district will build a mutual partnership with Korea Land and Housing Corporation; when Korea Land and Housing Corporation carries out an urban regeneration revitalization plan service to discover urban regeneration projects, the district will take on administrative support related to the projects.

In the future, the two organizations plan to form a working-level council to select new project sites and conduct detailed reviews and consultations to ensure visible project progress.

Projects currently being promoted jointly by Yeongdeungpo-gu and Korea Land and Housing Corporation include the Yeongdeungpo jjokbangchon public housing project, which has attracted the most attention this year, as well as the Yeongjin Market (Apartment) emergency maintenance project.

The Yeongjin Market (Apartment) maintenance project is an urban maintenance-type redevelopment project that will invest a total of 65.5 billion KRW to develop a 27,930㎡ area into 104 apartment units, 46 officetel units, sales facilities, and living SOC.

Oh Seung-sik, Head of the Seoul Regional Headquarters of Korea Land and Housing Corporation, stated, “Along with ongoing projects, we will contribute to preparing future visions and plans for proactive urban regeneration of semi-industrial areas, major hubs such as Yeongdeungpo Station, and aging residential areas within Yeongdeungpo-gu, and will mutually strive with Yeongdeungpo-gu to discover and promote various project models.”

Chae Hyun-il, Mayor of Yeongdeungpo-gu, said, “We will succeed in various large-scale projects such as the Yeongdeungpo Gyeongin-ro area urban regeneration revitalization project, Yeongjung-ro, jjokbangchon, and the 2nd Sejong Cultural Center through collaboration with LH. Through this, Yeongdeungpo is expected to welcome a second renaissance and become a more pleasant and livable city.”

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