Gyeonggi Province Signs Memorandum of Understanding for New Town Development Project

Gyeonggi Province signed a memorandum of understanding with relevant institutions on the 15th at the Provincial Government conference room, with the attendance of Governor Kim Moon-soo, Korea Housing Corporation President Park Yong-nak (Acting), Korea Land Corporation President Kim Jae-hyun, Gyeonggi Regional Development Corporation President Kwon Jae-wook and others, to ensure successful implementation of new town development projects.

The key points of the agreement signed on that day include Gyeonggi Province supporting expeditious administrative procedures to successfully implement the 10 new town development projects it is pursuing, while the Korea Housing Corporation, Korea Land Corporation, and Gyeonggi Regional Development Corporation will provide consultations and opinions from the acceleration plan establishment stage for infrastructure installation plans and efficient management of acceleration projects.

The Province expects that through the signing of this agreement, it will be able to share various know-how related to new town construction, including infrastructure investment methods and funding procurement strategies from corporations with rich experience in urban redevelopment projects, thereby enabling smooth project implementation.

The Province is pursuing new town development projects for 10 sites including Bucheon Sosa (2.59 million ㎡), Bucheon Gogang (1.775 million ㎡), Gwangmyeong City Gwangmyeong (874,000 ㎡), Namyangju Deokso (515,000 ㎡), Siheung Eunhaeng (619,000 ㎡), Gunpo City Geumjeong (576,000 ㎡), Goyang Wondang (1.30 million ㎡), Uijeongbu City Geumui (1.08 million ㎡), Guri City Sutak-Inchang (1.86 million ㎡), and Anyang City Anyang (1.762 million ㎡).