SH Corporation partners with Woori Bank... "Transforming abandoned spaces into community spaces"

[Asia Economy Reporter Onyu Lim] Seoul Housing and Communities Corporation (SH Corporation) and Woori Bank have joined forces for the ‘SH Young Architects-led Spatial Welfare Project.’

SH Corporation and Woori Bank announced on the 9th that they signed an agreement to promote the ‘SH Young Architects-led Spatial Welfare Project Private Partnership Spatial Operation Business.’ This agreement was pursued to link the spatial welfare projects promoted by SH Corporation with corporate social contribution activities, aiming to discover a new model for operating small-scale community spaces through public-private cooperation and for regional settlement.

The ‘SH Young Architects-led Spatial Welfare Project’ is a project that supports young people in directly planning and designing abandoned spaces to operate them as ‘small but certain’ resident community spaces. Through this agreement with Woori Bank, it is expected to expand operations to the ‘regional settlement stage.’

Recently, various community spaces have been actively created, but there has been a continuous issue that these spaces are not sustainably utilized due to the lack of self-sustaining operation methods. In response, SH Corporation and Woori Bank plan to discover self-sustaining space operators for public spaces and support regional settlement by establishing a new model that incorporates private social contribution projects based on public assets and platforms.

Kim Seyong, President of SH Corporation, said, “The ‘SH Young Architects Project’ was initiated to support young people in pursuing their dreams and contributing to society through them. I am grateful to the young architects who achieved good results even in the challenging environment of abandoned spaces,” adding, “It is gratifying to see our society showing a movement to recognize and collaborate with the infinite possibilities and potential of youth and regions, and this private partnership spatial operation business will be an opportunity to further expand this.”

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