Gyeonggi Province to Support 1.075 Billion Won for 15 Urban Renewal Projects This Year

[Suwon Ilbo=Park No-hun] Gyeonggi Province will support a total of 1.075 billion won from the Urban and Residential Environment Improvement Fund for 15 urban renewal projects and other projects this year.

According to the province on the 19th, the Urban and Residential Environment Improvement Fund is a fund established and operated since 2012 to facilitate smooth implementation of urban and residential environment improvement projects.

It provides support for basic and improvement plan formulation by city and county, safety diagnosis, vacant house improvement, usage fees, small-scale housing improvements, and detached house repair projects.

This year's urban renewal projects and detached house repair support project targets were selected through a demand survey conducted among cities and counties in the province last year.

For urban renewal projects, the province aims to reduce the burden of initial project costs when it is difficult to secure project funds, focusing on basic and improvement plan formulation consulting fees and safety diagnosis costs. For detached house repair support projects, support will be provided for 150 aging houses.

Project-by-project support details include ▲3 basic plans (930 million won) ▲6 improvement plans (400 million won) ▲1 vacant house improvement (30 million won) ▲1 safety diagnosis (170 million won) ▲1 usage fee (80 million won) ▲2 small-scale housing improvements (8.6 billion won including national treasury) ▲1 detached house repair (540 million won).

The province supported 3.68 billion won for 220 projects over 11 years from 2012, including 4.2 billion won in 2021 and 880 million won in 2022.

Yun Sung-jin, head of Gyeonggi Province's Urban Regeneration Promotion Division, said, "Gyeonggi Province is continuously making efforts to improve residents' aging residential environments," and added, "We will do our best to ensure that improvement projects proceed smoothly going forward."