Increase of 4,725 Parking Spaces in Incheon Old Downtown Area

Support Fund for Opening Affiliated Parking Lots Increased from 20 Million to 30 Million Won

Gyesan 4 Public Parking Lot
Photo by Incheon City

[Asia Economy Reporter Park Hyesook] Incheon City will secure a total of 4,725 parking spaces at 151 locations in the city next year to alleviate parking shortages in the old downtown area.

According to the city on the 15th, as of the end of last year, Incheon's parking lot acquisition rate was 105.4%, an increase of 2.9 percentage points from the previous year, but the old downtown area still faces a shortage of parking lots.

The city plans to invest 33.2 billion KRW next year to create 18 public parking lots (3,064 spaces) and secure 151 locations (1,661 spaces) by spending 1.5 billion KRW in densely populated residential areas to encourage opening of attached parking lots and installation of apartment attached parking lots.

Along with this, support for opening attached parking lots will also be expanded.

When large marts and others open their attached parking lots to nearby residents during idle hours, the facility improvement support will be increased from the existing 20 million KRW to 30 million KRW, and the mandatory opening period will be extended from 2 years to 3 years.

When opening school attached parking lots, support of up to 300 million KRW will be provided depending on the scale.

An Incheon City official stated, "To reduce citizen inconvenience caused by lack of parking infrastructure, we will do our best in projects to create low-cost parking spaces such as expanding public parking lots and opening attached parking lots."

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