Gwanggyo EduTown Development Project Gets 'Green Light'

The government is known to be taking a positive stance on reviewing state funding for the EduTown development project, which is part of the special planning zone project in Gwanggyo New City.

According to Suwon City officials on the 11th, Suwon City visited the Ministry of Strategy and Finance and the Ministry of Health and Welfare to submit a project plan for the EduTown project and request state funding.

The city submitted project plans to the government including a youth cultural center with an area of 3,000 square meters equipped with facilities such as a library and cultural lectures, a sports center with an area of 2,800 square meters featuring swimming pools and basketball courts for students and local residents, and an indoor golf practice range.

An official from the New City Project division said, “The relevant government departments stated that if Suwon City shows active commitment to developing the EduTown, they will review the support positively.”

He stated, “Since the project is being pursued through a BTL(Build-Transfer-Lease) method, if the government reviews the EduTown project plan positively, it will be possible to receive 50% of the total project cost as state funding. The EduTown project implementation is expected to proceed smoothly.”

The city anticipates that if the remaining 50% is covered by Gwanggyo land development project costs, a green light will be given for securing financial resources for EduTown development.