SH Corporation-Songpa-gu Sign MOU for Efficient Use of Public Land

SH Corporation Signs MOU to Identify and Develop Alternatives for Underutilized, Aging Facilities and Idle Sites in Songpa-gu

[Asia Economy Reporter Yuri Kim] Seoul Housing and Communities Corporation (SH Corporation) and Songpa-gu have joined hands to efficiently utilize shared land within the district.

On the 25th, SH Corporation and Songpa-gu announced that they signed a Memorandum of Understanding (MOU) to efficiently utilize underused, aging facilities and idle land in Songpa-gu and to improve convenience for residents.

According to the agreement, the two organizations will actively cooperate on various pending projects, including discovering shared land development projects through information exchange and mutual support, preparing utilization plans for underused shared land, and securing public facility sites in Songpa-gu.

In particular, they plan to redevelop aging public offices with limited use, such as the Garakbon-dong Community Center, into complex developments that secure various convenience and public facilities, creating resident-friendly spaces that can revitalize local communities.

Kim Se-yong, President of SH Corporation, said, "Taking this agreement as an opportunity, we will closely cooperate with Songpa-gu to discover various idle spaces and realize spatial welfare beyond residential welfare within Songpa-gu," adding, "We will do our best as a reliable partner to resolve Songpa-gu's pending issues."