Incheon Urban Corporation Accelerates Role as General Project Manager for 'Jemulpo Station Urban Regeneration New Deal'

Incheon Urban Corporation building exterior

[Asia Economy Reporter Park Hyesook] Incheon Urban Corporation (iH) announced on the 26th that it is accelerating its role as the general project manager following the selection of 'Jemulpo Station-J' around Jemulpo Station in Incheon as a central downtown-type project in the Ministry of Land, Infrastructure and Transport's '2021 Urban Regeneration New Deal Project Contest'.

Jemulpo Station-J is a large-scale urban regeneration project investing a total project cost of 70.4 billion KRW (18 billion KRW from the national government) from next year until 2026 to create a 'Young Square' building with three underground floors and ten above-ground floors, a public parking lot (223 spaces), a shared kitchen, and a rooftop garden in the North Plaza area around Jemulpo Station in Michuhol-gu, the old downtown of Incheon.

Upon completion of this project, it is expected that the area around Jemulpo Station, which lost vitality after Incheon National University moved to the new city of Songdo, will regain its former vibrancy as the floating population including young people increases, generating job creation and community revitalization effects.

As the general project manager, iH supports the establishment and modification of the urban regeneration activation plan and acts on behalf of Incheon City for unit projects to successfully promote Jemulpo Station-J.

Additionally, to create a self-sustaining economic ecosystem in the local community, iH will utilize assets within the urban regeneration activation zone to establish urban and architectural startup bases as spaces for youth entrepreneurship education.

iH expects a significant synergy effect between the old downtown regeneration project and development project in the Jemulpo area by simultaneously participating in the central downtown-type Jemulpo Station-J New Deal project selected in this contest and the currently active Jemulpo Station urban public housing complex project.

Lee Seung-woo, president of iH, said, "Since the Urban Regeneration New Deal project and the urban public housing complex project are being promoted simultaneously around Jemulpo Station, we expect Jemulpo to prosper once again as the center of Incheon," adding, "We plan to actively participate in new urban regeneration policy projects in Incheon going forward."

Meanwhile, iH completed the construction of Happy Housing for the Hwasu Garden Village and Manbu Village New Deal projects selected in 2017, and is currently promoting the Michuhol-gu Biryong Gonggam 2080 New Deal project selected in 2019.

Furthermore, iH is proceeding with the procedures for district designation for the Jemulpo Station and Gulpocheon Station urban public housing complex projects, which were selected as the 4th candidate sites for the government's 3080+ urban complex project.

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