Gangwon-do Secures 40 Billion KRW in National Funding for Five 'Old Downtown Development Projects'

Wonju·Taebaek·Hongcheon (General Neighborhood), Inje·Goseong (Saving Our Neighborhood)

Concept Plan for Hongcheon-gun Recognition Project [Gangwon-do]

[Asia Economy Reporter Ra Young-cheol] Gangwon Province secured 40 billion KRW in national funds by being selected for five locations in the government's Urban Regeneration New Deal project competition.

According to the province on the 30th, among the five locations, Wonju City, Taebaek City, and Hongcheon County were selected for the 'General Neighborhood' category, while Inje County and Goseong County were selected for the 'Revitalize Our Neighborhood' category.

These areas will invest a total of 72 billion KRW, including local government funds, over the next 4 to 5 years to promote urban regeneration projects such as residential area improvements.

In particular, the Hongcheon County recognized project, as the first new type within the province, secured 5 billion KRW in national funds, enabling the extension and reconstruction of an old building (the former Hongcheon Fire Station) that was nearly abandoned.

The province plans to prioritize securing sites and establishing Urban Regeneration Field Support Centers in the selected project districts to promptly start resident-experience projects such as living SOC.

Meanwhile, since starting the Urban Regeneration New Deal project in 2017, the province has secured a total of 318.5 billion KRW in national funds for 30 locations, promoting the economic and cultural regeneration of declining cities.

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