Gyeonggi Province Increases Urban Regeneration New Deal Project Target to 50 from 45

[Suwon Ilbo=Reporter Park Nohun] Gyeonggi Province announced on the 11th that it has established a "Gyeonggi Province Urban Regeneration New Deal Project Target Increase Implementation Plan," which raises the initial target of 45 urban regeneration new deal projects to 50 or more, and will provide 1.215 trillion won (966 billion won in provincial funds) including national treasury and local government funds through 2026.

The urban regeneration new deal project is a community-led initiative to revitalize aging residential areas and declining downtowns, enhancing urban competitiveness and improving quality of life. Out of 283 government new deal public subscription projects conducted from 2017 to 2019, Gyeonggi Province's 34 projects (12%) represent the largest nationwide portion selected, and projects are proceeding smoothly.

The province attributes the successful achievement of targets to key factors including ▲a total of 43 consulting sessions (2017-2019) for municipal and county public subscription projects utilizing urban regeneration support center experts, and ▲provision of 5.2 billion won in provincial funds (2018-2020) for municipal and county urban regeneration plan establishment, reflecting active responses during government new deal project public subscription.

Examining the main progress of new deal projects within the province, Gwangmyeong's "Neobdae" has initiated construction of public rental housing (240 units) to realize residential welfare. Namyangju's Geumgok-dong is pursuing complex development including a cultural welfare center, youth entrepreneurship support facilities, and housing. Eight new deal projects selected in 2017 are actively progressing.

Furthermore, nine new deal projects including Siheung City's Daoya-dong residential environment improvement project in the dedesignated new town area and Gwangju City's scenic parking lot project utilizing abandoned houses in Gyeongan-dong, selected in 2018, have established activation plans and commenced detailed design for each sub-project. Seventeen projects newly selected in 2019 are undergoing preliminary administrative procedures and are scheduled for full-scale implementation beginning in 2020.

To achieve the raised project target of 50 or more from the existing 45, the province plans to support intensive consulting on public subscription project participation techniques and evaluation considerations through new deal project briefing sessions and on-site consultations.
In particular, the province will also conduct promotional efforts to enable municipalities with limited urban regeneration experience due to geographic and military factors in northern Gyeonggi region to participate, and will enhance project completion through expert consultation.
Additionally, the province will pursue parallel efforts to request expansion of new deal project allocations from the National Assembly and government, considering resident participation intentions regarding new deal projects, and plans to secure urban regeneration special accounts exceeding 14 billion won annually for stable project implementation and achievement of results.
The province plans to actively work on discovering regulatory rationalization measures and addressing unreasonable institutional reforms with the National Assembly and government to ensure government-selected new deal projects proceed at a brisk pace and are felt by residents.

Kim Jun-tae, director of Urban Housing at Gyeonggi Province, stated, "With 237 of the province's 563 towns, townships, and administrative divisions classified as declining areas, urban regeneration projects in downtowns are urgent," adding, "We will work to ensure more projects are selected through an urban regeneration network involving the province, municipalities, support centers, and experts, not being bound by the 50-project target."