Public and Private Sectors Join Forces for Reconstruction of Seocheon Special Market in Chungnam

Chungnam Province, Seocheon County, and Hyundai Construction Business Agreement
Cooperation for Restoration and Reconstruction of Seocheon Special Market

Public and private sectors join forces to rebuild Seocheon Specialty Market in Chungnam.

On the 7th, Chungnam Province announced that Governor Kim Tae-heum, Seocheon County Governor Kim Ki-woong, Hyundai Construction CEO Yoon Young-jun, and others met to sign a business agreement for mutual cooperation in restoring Seocheon Specialty Market.

According to the agreement, Chungnam Province and Seocheon County will support infrastructure such as finances and land necessary for the restoration and reconstruction of Seocheon Specialty Market, and will expedite processing of permits, regulations, and other matters related to market restoration.

Hyundai Construction plans to cooperate in the project to quickly restore and normalize the market. This will include construction management, technical consulting, manpower support, and providing free consultation.

Chungnam Province, Seocheon County, and Hyundai Construction also plan to review the establishment and operation of a joint working-level consultative body through mutual consultation.

Earlier, Governor Kim Tae-heum of Chungnam Province announced at a press conference on the 30th of last month that the reconstruction period, including demolition and waste disposal of Seocheon Specialty Market, is set at 1 year and 6 months. The total project cost to be invested is 40 billion KRW, which will be covered by national funds and insurance compensation.

Chungnam Province will also create a temporary market with a budget of 4 billion KRW to enable the flatfish and sea bream festival to be held in early April. The temporary market will be prepared in the form of modular units (general stores, etc.) and large-span membrane structures (for seafood, restaurants, etc.).

Governor Kim Tae-heum of Chungnam Province said, “With Hyundai Construction participating as the project manager, we expect the temporary market and the reconstruction of the specialty market to proceed at a rapid pace,” adding, “Chungnam Province will reinvest 1 billion KRW saved from design costs through Hyundai Construction’s shared management into Seocheon.”

Meanwhile, on the same day (the 7th), Chungnam Province also completed the payment of the ‘2nd Living Stabilization Fund’ to stores (merchants) affected by the fire at Seocheon Specialty Market. The 2nd Living Stabilization Fund was decided at the discretion of the Chungnam Governor after review by the Disaster Safety Countermeasures Headquarters.

The support amount is 7 million KRW per affected store. Chungnam Province paid a total of 1.827 billion KRW to 257 stores. The entire payment amount was allocated from provincial funds.

Including the 2nd Living Stabilization Fund, the total support paid to Seocheon Specialty Market stores (merchants) to date amounts to 12 million KRW per store.

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