Chungnam Improves Residential Environment in Innovation City... Revitalizing Naepo Commercial Area

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province is promoting the improvement of residential environments in innovation cities and revitalization of the Naepo New Town commercial district in preparation for the second relocation of public institutions in the Seoul metropolitan area.

According to the province on the 14th, as of the end of last month, the population of Naepo New Town is about 29,000. However, the province forecasts that the local population will exceed 50,000 in 2024 when the occupancy of apartment complexes currently under construction begins in earnest.

Accordingly, the province plans to establish strategic promotional measures to enhance the convenience of life for new town residents and revitalize the local commercial district, and will actively engage in corporate attraction activities.

Previously, to prepare strategic promotional measures, the province produced an investment proposal for attracting private investment, including population forecasts and commercial district status. It is also continuously analyzing the commercial district and identifying resident demands, through which it plans to devise strategies to attract lifestyle facilities with high resident demand, such as clinics and large franchise stores.

In particular, from today until the 16th, the province will participate in the ‘IFS Franchise Expo’ held at COEX in Seoul, promoting Naepo New Town as an investment destination by conducting investment consultations and distributing investment proposals to investors and franchise headquarters.

As a measure to strengthen communication within the new town commercial district, the province plans to operate meetings among store tenants for mutual development with local residents and form a public-private cooperation task force to efficiently revitalize commercial facilities.

Through the public-private cooperation task force, the province will prepare various measures such as attracting convenience facilities to induce the settlement of relocated public institution employees in preparation for the second relocation of public institutions, while ensuring smooth progress of merchant cooperation projects.

Yook An-su, Director of the Innovation City Policy Division of the province, said, “Revitalizing the Naepo New Town commercial district is an essential condition for residential conditions and the settlement of innovation cities,” adding, “The province will continue close cooperation with Hongseong and Yesan counties to revitalize the commercial district.”

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