Rail Network Authority Invites Private Proposals for Mixed-Use Development of Idle Land Near Stations

The Korea Rail Network Authority announced on March 6 that it will be inviting private sector proposals for the mixed-use development of idle land near Chungcheong Regional Metropolitan Railroad and the Centum and Geoje Stations on the Donghae Nambu Line.

The public contest will run from March 6 to June 5. The three target sites are: approximately 5,000 square meters in Jungri-dong, Daedeok-gu, Daejeon; about 6,600 square meters in Jaesong-dong, Haeundae-gu, Busan; and around 7,500 square meters in Geoje-dong, Yeonje-gu, Busan.

These areas are expected to strengthen their multifunctional value by connecting with transportation infrastructure and commercial districts, as they are adjacent to regions slated for future development.

A public contest site near Ojeong Station on the Chungcheong Regional Metropolitan Railroad in Jungri-dong, Daedeok-gu, Daejeon. Korea Rail Network Authority

The Jungri-dong site in Daejeon borders the area where the Chungcheong Regional Metropolitan Railroad, scheduled to open in 2028, and the new Ojeong Station on Daejeon Tram Line 2 will be located, making it likely to develop into a major transportation hub.

The Centum Station site is positioned along the development axis connecting Centum District 1 and Centum District 2. Its growth potential is considered high due to nearby projects such as the construction of a new Haeundae-gu Office building and urban renewal initiatives for aging residential areas.

The Geoje Station site is adjacent to a legal district that includes the court and prosecutor's office, making it a region with a stable commercial area.

The contest departs from the conventional single-lot development model, allowing private entities to autonomously propose to combine or separate sites based on market conditions and location characteristics. The Korea Rail Network Authority expects this will enhance project profitability and facilitate innovative development concepts.

Further details on the contest can be found in the notices section of the Korea Rail Network Authority website.

Lee Seong-hae, President of the Korea Rail Network Authority, said, "This contest is being held to utilize the areas around railway stations more efficiently by reflecting the unique characteristics of each region. By incorporating creative development ideas from the private sector, we aim to contribute to revitalizing local economies and improving convenience for rail users."

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