To Revitalize Regional Win-Win Projects... Busan City, KAMCO, and Nam-gu Office Hold Agreement Ceremony for 'Youth Shared Housing Construction and Operation'

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan City and Korea Asset Management Corporation (KAMCO) are joining forces to build youth shared housing to promote regional co-prosperity.

On the afternoon of the 7th, Busan City will sign a business agreement with KAMCO and Nam-gu Office for the ‘KAMCO Youth Shared Housing Construction and Operation.’ The signing ceremony will be attended by Park Hyung-joon, Mayor of Busan, Park Jae-beom, Mayor of Nam-gu, and Kwon Nam-joo, President of Korea Asset Management Corporation.

Through this business agreement, KAMCO and Nam-gu Office plan to build a 100-unit KAMCO Youth Shared Housing in Daeyeon-dong, Nam-gu, to provide a stable residential environment for local youth and cooperate in creating the ‘Busan Children’s Complex Cultural Space,’ a 15-minute city living zone with resident convenience facilities.

The business agreement includes ▲support for the operation of the Children’s Complex Cultural Space ▲operation of the Children’s Complex Cultural Space ▲provision of housing for youth in the Busan area and creation of the Children’s Complex Cultural Space.

Through this agreement, stable housing will be provided to local youth, and the community will be offered the ‘Busan Children’s Complex Cultural Space,’ which includes a children-centered library, advanced digital experience center, learning center, and community zone.

The ‘KAMCO Youth Shared Housing’ is scheduled to be completed by October 2024.

Due to new government policies for public institutions relocated to innovation cities, the number of personnel moving to Busan has increased, and the need for housing has been raised to provide stable living conditions for newly hired employees who have been significantly expanded in recruitment.

Busan City stated, “With the approval of the Ministry of Land, Infrastructure and Transport and the signing of this agreement, the living conditions for newly hired employees of relocated institutions are expected to improve.”

Mayor Park Hyung-joon of Busan said, “Starting with the signing of this business agreement, we will actively cooperate in the construction and operation of KAMCO Youth Shared Housing to further activate regional co-prosperity projects of relocated public institutions.”

Since relocating to Busan Innovation City in 2014, KAMCO has been striving for regional co-prosperity by engaging in various local contribution projects and maintaining a high local talent recruitment rate.

It has also significantly contributed to the establishment of the Busan International Finance Promotion Agency in 2020 and the creation of funds to support Busan’s social economy in 2021.

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