Jeonnam Province Selects Yeongam and Wando for New Urban Regeneration Project in Metropolitan Public Contest

Securing 15 Billion Won in National Funding

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province announced on the 15th that Yeongam and Wando have been selected as new projects in the 31st Ministry of Land, Infrastructure and Transport Urban Regeneration Special Committee's urban regeneration project wide-area public contest, securing 15 billion KRW in national funding.

The selected projects in the Jeonnam region are Yeongam-gun's "The Road to Hyanggyo, Friendly Gyodong Village" and Wando-gun's "Restarting Village Geumil".

By 2026, a total of 51.28 billion KRW will be invested, including 15 billion KRW in national funds, 10 billion KRW in local funds, 20.37 billion KRW in ministry-linked project funds, 140 million KRW in private investment, and 5.77 billion KRW in local government projects.

The projects include many initiatives aimed at revitalizing alleyway commercial districts and improving residential environments, such as renovating declining old downtown areas, expanding living infrastructure, and establishing centers, which are expected to play a significant role in improving the quality of life for local residents and restoring urban vitality.

Jeonnam Province selected four candidate projects through a wide-area selection evaluation conducted by an evaluation committee composed of urban regeneration experts, including document review, on-site evaluation, and presentation evaluation, and submitted them to the Ministry of Land, Infrastructure and Transport last November.

Among these, two projects were selected after expert evaluations on feasibility, validity, and appropriateness of national funding support.

Yoo Ho-gyu, head of the Regional Planning Division of Jeonnam Province, said, "The selection in the wide-area public contest for urban regeneration projects is expected to greatly contribute to revitalizing the local economy and improving residents' living environments. We will do our best to ensure that the two newly selected projects and the 69 ongoing urban regeneration projects proceed without any setbacks."

Since the urban regeneration projects began in 2014, 92 projects across 22 cities and counties (worth 925.3 billion KRW) have been selected, with 23 completed and 69 currently underway, focusing on infrastructure maintenance, revitalization of local commercial districts, and creation of youth startup spaces.

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