Designation of Gwangju Songjeong Station KTX as a Regional Economic Hub Investment Leading Zone

Mayor Lee Yong-seop: "Develop as a Key Hub for Development in the Southwestern Region of the Country"

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 16th that the Gwangju Songjeong Station KTX Regional Economic Hub Investment Leading District (560,427㎡), centered around Gwangju Songjeong Station, has been finally designated after review by the Ministry of Land, Infrastructure and Transport’s National Land Policy Committee (February 2021).

The Gwangju Songjeong Station Investment Leading District was selected in 2016 through a Ministry of Land, Infrastructure and Transport public contest, passed the preliminary feasibility study by the Ministry of Strategy and Finance (August 2018), underwent consultations with 34 central government agencies and local government related organizations, public inspection, and opinion hearings (September 2018 to November 2020), and after more than five years, obtained district designation approval at the Central Land Committee review (December 2020).

The Investment Leading District is a regional development project designated by the Ministry of Land, Infrastructure and Transport since 2015, selecting a total of 17 locations nationwide to foster regional growth hubs with development potential based on regional specialized resources and to activate private investment. Currently, nine districts have completed the designation procedures and are advancing their projects.

Once designated as an Investment Leading District, customized consulting support, national financial support (up to 5 billion KRW), tax burden reductions, relaxed building coverage and floor area ratios, special architectural zones, prior approval for permits, land expropriation, and a total of 73 various benefits are provided to ensure smooth project implementation and tangible results.

The newly designated “Gwangju Songjeong Station KTX Regional Economic Hub Investment Leading District” is the first Investment Leading District designated in relation to a high-speed rail station.

Located near Gwangju Songjeong Station, the central station of the Honam region, it secures accessibility comparable to the metropolitan area through the KTX and other wide-area high-speed transportation networks. The city plans to develop the area around Gwangju Songjeong Station into a convergence district for industry, business, and residential use, aiming to make it a driving force for Honam’s development.

Additionally, the Korea Land and Housing Corporation is expected to invest 594.3 billion KRW in a total area of 560,427㎡ (170,000 pyeong) covering Songjeong-dong and Jangnok-dong in Gwangsan-gu, serving as a catalyst for Honam’s development.

First, the development plan for Zone 1 (see location map), centered on Gwangju Songjeong Station, aims to improve comprehensive transportation and transfer systems around KTX Gwangju Songjeong Station, enhance infrastructure, establish three-dimensional pedestrian connections extending from the station, and install taxi relief lanes to improve user convenience, thereby fostering the station as a wide-area transportation hub in the southwestern region of the country.

In connection with Gwangju Songjeong Station, the plan includes creating youth startup spaces and small business support facilities for the mutual development of the 1913 Songjeong Market, as well as establishing public safety shopping areas and an Old & New Square, developing a symbolic station area as the gateway to the Honam region and nurturing it as a local living growth hub.

Zone 2 behind Gwangju Songjeong Station (see location map) will develop an automotive industry research and support facility, residential, and commercial convergence complex connected to the Bitgreen National Industrial Complex.

This will nurture a base for the automotive industry hub city, a regional strategic industry of Gwangju City, through research, startup support, and technology exchange platforms, thereby enhancing economic ripple effects centered on the KTX station such as investment attraction and job creation, contributing to regional economic revitalization.

With the designation and announcement of the Investment Leading District project by the Ministry of Land, Infrastructure and Transport, the city is proceeding with the establishment and approval of basic and detailed plans, aiming for land compensation in 2022 and construction completion in 2025.

Mayor Lee Yong-seop said, “The investment leading district around Gwangju Songjeong Station is especially meaningful as the first case in Korea designated centered on a KTX high-speed rail station,” and added, “We will develop the area around Gwangju Songjeong Station into a core hub of industry, research, commerce, business, and transportation leading the development of the southwestern region of the country.”

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