Gyeongbuk Province Enters 700 Billion Won Era of 'Urban Regeneration New Deal'... "Expansion to Entire Areas of 23 Cities and Counties Next Year"

Selected 38 Locations in 21 Cities and Counties Through This Year

Gyeongbuk Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongbuk Province announced on the 23rd that this year, including the 4 additional sites selected this month for the Moon Jae-in administration's core national agenda 'Urban Regeneration New Deal Project,' a total of 1.548 trillion KRW has been confirmed for 10 final locations.

The projects newly selected by the Ministry of Land, Infrastructure and Transport this time are in the 4 cities/counties of Mungyeong, Yeongju, Yeongyang, and Bonghwa, with a total project cost of 78.4 billion KRW (47 billion KRW in national funds).

Thus, Gyeongbuk Province's urban regeneration projects cover 38 sites in 21 cities/counties with a total project cost of 720.9 billion KRW (434.6 billion KRW in national funds), opening the era of 700 billion KRW in urban regeneration. The annual project investment is steadily increasing to around 100 billion KRW.

The Urban Regeneration New Deal Project is a project aimed at improving the existing old and declining urban environment while enhancing urban vitality and the quality of life of local residents through jobs and social economy. The Ministry of Land, Infrastructure and Transport selects project sites through deliberation by the Urban Regeneration Special Committee.

Gyeongbuk Province has achieved results in various contests such as urban regeneration recognition projects that complexify living infrastructure facilities like small libraries and childcare facilities and renovate hazardous facilities, smart city technology support projects that solve complex urban problems, and the selection of base universities for training urban regeneration professionals.

Byeo Yong-su, Director of the Construction and Urban Bureau of Gyeongbuk Province, said, "As a pledge project of the 7th local government, we completed the urban regeneration strategic plan throughout the province in 2020," and showed strong enthusiasm by stating, "By 2021, we will expand urban regeneration projects to all 23 cities and counties in the province."

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