Gimhae City Holds 'Visiting Resident Briefing Session' for Yulha Urban Development Project

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, announced on the 5th that it held a residents' briefing session on the Yulha Urban Development Project, which has been underway since 2016, at the Jangyu 3-dong Administrative Welfare Center on the 2nd.

The target site for the Yulha Urban Development Project is located around 19-5 Jangyu-dong, a development-restricted area of approximately 108,000㎡ situated between the recently completed Yulha 2 District Residential Land Development Project Zone, National Road No. 58, and the Namhae Expressway.

The briefing session was organized by Gimhae City to explain the background, necessity, progress, and project plans of the development and to gather opinions, aiming to facilitate communication by reaching out to citizens. About 30 landowners attended.

The current status of the site is mostly farmland, but it is a frequently flooded area, making cultivation difficult. In May 2016, Gimhae City went through a public announcement process for private business operators and selected a consortium consisting of Korea Rural Community Corporation and Daejeo Construction Co., Ltd. as the preferred negotiators.

However, the project was put on hold for some time as Gimhae City was designated as a managed area for unsold apartments. It was resumed in June 2020 following the lifting of the unsold apartment management designation and recent government policies to revitalize housing supply.

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