Yeosu-si, Full-Scale Promotion of Munsu District Urban Regeneration New Deal Project

Yeosu-si Munsu District

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Yeosu City, Jeollanam-do (Mayor Kwon Oh-bong) announced on the 13th that the Munsu District Urban Regeneration New Deal Project will be fully launched this month, starting with the external landscape home repair support project.

The Munsu District is an aging housing complex established in 1986 with an IBRD loan. Since being selected through a public contest in 2018, the city has completed administrative procedures such as the feasibility evaluation by the Ministry of Land, Infrastructure and Transport and announced the activation plan on December 30 last year. Until last month, the city conducted a demand survey for home repairs and proceeded with land compensation for inclusion.

The home repair project, which officially begins this month, has received applications from about 450 households so far under the condition that beneficiaries pay 10% of the cost within a limit of 10 million KRW. Aiming to improve the housing landscape, repairs will be carried out on rooftops waterproofing, exterior walls, windows, gates, and fences until 2022.

Prior to this, the city is promoting the construction of a fire access road with a budget of 22.4 billion KRW in connection with the New Deal project, aiming to complete it within this year. Currently, building demolitions have been completed, and the installation of water, sewage, and city gas pipelines is underway.

Once the road construction is completed, it is expected to help alleviate traffic congestion and parking difficulties within the housing complex by securing a two-lane roadway and 312 surface parking spaces.

Yeosu City plans to complete detailed design for the land with completed compensation within this year and to actively promote hardware projects such as the Eoullim Center, youth startup facilities, guesthouses, parking lots, and community gardens, as well as software projects like the Urban Regeneration University for community revitalization starting next year.

A city official said, “We will strive to improve residents’ quality of life through sustainable urban regeneration,” and added, “We hope for active interest and participation from the residents.”