Gyeonggi Urban Corporation Leads Regional Issue Resolution

Gyeonggi Urban Corporation and Icheon City signed a 'Basic Agreement for Regional Comprehensive Development in Icheon City' on the 27th in the afternoon at the office of Icheon City Hall, with Choi Geum-sik, president of Gyeonggi Urban Corporation, and Cho Byung-don, mayor of Icheon City, in attendance.

Under this agreement, Gyeonggi Urban Corporation and Icheon City have decided to cooperate mutually to resolve regional pending issues and systematically promote regional development and urban renewal.

The agreement includes provisions for Gyeonggi Urban Corporation to actively commercialize Icheon City's pending projects by leveraging its accumulated expertise, and for Icheon City to provide relevant information and materials.

This agreement represents the first among the operational agreements that Gyeonggi Urban Corporation is promoting with local governments such as cities and counties to resolve regional issues in the province going forward.

This is drawing further attention as it comes amid Gyeonggi Urban Corporation's shift in development project paradigm from new city development to urban regeneration, from government-led and supply-oriented approaches to demand-customized approaches, from large-scale projects to small and medium-scale quality projects, and from simple development to complex, convergent, and advanced high-tech projects.

Going forward, Gyeonggi Urban Corporation will prioritize concluding operational agreements with basic local governments that lack local public enterprises capable of resolving regional issues. The corporation also plans to continuously build cooperative models with local governments and city and county urban corporations to address regions where local public enterprises face limitations in resolving regional issues due to insufficient personnel and resources.

Choi Geum-sik, president of the corporation, stated, "I believe that Gyeonggi Urban Corporation's expanding role in resolving regional issues is the direction that local public enterprises should pursue, including achieving balanced regional development."