Incheon Namchon Village Selected for Regional Specialized Regeneration Project... Establishing Self-Sustaining Hub Facilities for Alleyway Commercial Districts

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 16th that the Namchon Village regional specialized regeneration project in Namdong-gu has been selected in a government contest, securing 12 billion KRW in national funding over four years.

Regional specialized regeneration is a customized regeneration project that utilizes the area's unique assets such as history and culture to promote storytelling and urban branding, revitalizing central and alleyway commercial districts. It is a new type of urban regeneration project introduced following the government's urban regeneration policy reform announced in July.

The city supplemented the project plans by conducting first and second preliminary consultations by the Housing and Urban Guarantee Corporation (HUG) and ongoing consultations by the city’s Urban Regeneration Support Center, targeting projects applied for by districts and counties to actively discover regional specialized regeneration projects.

Subsequently, an evaluation committee composed of seven experts from various fields conducted document reviews, on-site inspections, and presentation evaluations, selecting the Namchon Village urban regeneration project applied by Namdong-gu as Incheon City's representative project and submitted it to the Ministry of Land, Infrastructure and Transport contest.

The selected project, "Flowering Namchon Living with Neighbors and 3 Lives (Self-sustaining, Co-prospering, Regenerating)," actively reflects the revised urban regeneration policy and planned pilot projects such as the self-sustaining base facility for alleyway commercial districts 'Hope Flower Creative Studio,' 'Flowering Namchon Street (Ga),' and 'Neighborly Harmony Yard.'

It received high marks for proposing the establishment of a foundation for revitalizing alleyway commercial districts by fostering local specialized brands such as flower vinegar, handmade tofu, and handmade syrup, while building a cooperative system among residents, merchants, companies, academia, and administration.

Additionally, the creation of cultural and artistic walking spaces and the linkage of corporate social contribution projects with local old house repair projects are expected to contribute not only to improving the residential environment but also to creating a safe living environment.

An official from Incheon City stated, "We will do our best to steadily promote these projects so that Namchon Village can serve as a role model in the field of regional specialized regeneration and contribute to regional economic revitalization and job creation."

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