Incheon City Launches '2030 Urban Regeneration Strategy'... Discovering Balanced Development Projects for Old Downtown

[Asia Economy Reporter Park Hyesook] Incheon City has embarked on establishing an urban regeneration strategy to reflect the balanced development of the old downtown area, a core pledge of the 8th local government, and the reorganization of the new government's urban regeneration project promotion system.

The city announced on the 17th that it plans to establish the '2030 Incheon Urban Regeneration Strategic Plan' by June next year, targeting the old downtown area covering 921.74㎢.

The urban regeneration strategic plan is a statutory plan established every 10 years and revised every 5 years in accordance with the 'Special Act on the Activation and Support of Urban Regeneration.' It is a plan to investigate and discover various plans, projects, programs, and tangible and intangible local assets related to urban regeneration, designate urban regeneration activation areas, and establish strategies for promoting urban regeneration.

Through this urban regeneration strategic plan revision project conducted by a specialized institution, the city plans to focus on discovering balanced development projects for the old downtown area linked to Mayor Yoo Jeong-bok's core pledge, the 'Jemulpo Renaissance' project.

Additionally, reflecting the new government's urban regeneration reorganization, the city will create economic hubs through complex development in declining areas and discover customized projects utilizing unique local resources by region.

Namchon Village, Namdong-gu, Incheon Photo by Incheon City

In Incheon, Namdong-gu Namchon Village was selected in December last year for the new government's first regional specialized regeneration project competition, securing 12 billion KRW in national funding.

An official from Incheon City stated, "Until now, urban regeneration projects have been limited in revitalizing the old downtown due to small-scale projects focused on infrastructure and living SOC supply," adding, "We will make every effort in establishing and promoting the urban regeneration strategic plan to enhance economic revitalization and job creation through old downtown innovation and region-specific customized projects, which are major policies of the 8th local government."

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