39 'Urban Regeneration New Deal Project Sites' Selected in Daegu, Bucheon, etc... 1.5 Trillion Won Investment

Location Map of the 2nd Selected Areas for the 2021 Urban Regeneration New Deal (Data Provided by the Ministry of Land, Infrastructure and Transport)

The Ministry of Land, Infrastructure and Transport announced on the 30th that a total of 39 new Urban Regeneration New Deal project areas, including Dong-gu in Daegu and Dong-gu in Gwangju, were selected through the 28th Urban Regeneration Special Committee.

A total of 1.5 trillion KRW will be invested over four years from next year until 2025 in the 39 selected project sites. Through this, the deteriorated residential environment and commercial districts will be revitalized, and approximately 7,000 jobs are expected to be created.

In the Gohang-dong area of Bucheon-si, Gyeonggi-do, 93.9 billion KRW (7.2 billion KRW in national funds) will be invested. Bucheon-si plans to build a key welfare space linked to the Gohang Prehistoric Park, improve the traditional market environment, and create safe streets to enhance the vitality of the city.

In the Kirin-myeon area of Inje-gun, Gangwon-do, which is experiencing decline due to the relaxation of restricted areas, 16.2 billion KRW (5 billion KRW in national funds) will be invested by 2024. Inje-gun plans to improve old houses and expand living convenience facilities such as creating the Kirinnaerin Harmony Platform and village parking lots.

Chungnam Goesan and Buyeo, Gyeongnam Uiryeong, and Goseong will promote urban regeneration with the 'Housing Platform' model. The Housing Platform is a project that comprehensively provides public rental housing, necessary SOC, and jobs in one place to improve residential conditions in local small and medium-sized cities and rural fishing villages facing population decline.

Kim Gyu-cheol, head of the Urban Regeneration Project Planning Division at the Ministry of Land, Infrastructure and Transport, said, "We will make every effort in project management to revitalize local commercial districts and improve residents' living conditions through the Urban Regeneration New Deal projects."

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