Gyeongnam Province Selects 13 Final Sites for Urban Regeneration New Deal Project ... Highest Number Ever Selected

Record High Selection ... Total Project Cost 453.7 Billion KRW, Secured 92 Billion KRW in National Funding

Gyeongnam Province secured 92 billion KRW in national funding by having 13 sites selected for the 2020 Urban Regeneration New Deal Project led by the Ministry of Land, Infrastructure and Transport. (Photo by Gyeongnam Provincial Government)

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongnam Province has achieved a record by having 13 sites selected in the 2020 Urban Regeneration New Deal Project competition.

Since the Urban Regeneration New Deal Project was implemented in 2017, the province had 6 sites selected in 2017, 8 in 2018, 10 in 2019, and 13 in 2020. Accordingly, it secured 92 billion KRW in national funding.

The Urban Regeneration New Deal Projects selected this year will invest a total project cost of 453.7 billion KRW by 2025 to revitalize deteriorated old urban areas with hardware projects such as living SOC and resident income increase projects, and by opening urban regeneration universities to carry out resident-experienced projects.

The selected projects fall into five types: 'Central City Type', 'Residential Support Type', 'General Neighborhood Type', 'Our Neighborhood Revival Type', and 'Recognition Project'.

Yoon In-guk, Director of the Provincial Urban Transportation Bureau, stated, "This year, Gyeongnam has secured national funding by having a record 13 sites selected since the start of the Urban Regeneration New Deal Project competition, and we expect this to contribute to job creation, youth entrepreneurship, and economic organization development." He added, "Next year, we will focus on project execution and do our best to promote projects that residents can feel."

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