The area around 1035 Doksan 2-dong, Geumcheon-gu, selected as a 2020 Urban Regeneration Activation Area
[Asia Economy Reporter Donghyun Choi] The Seoul Metropolitan Government announced on the 2nd that it has newly selected five 'Seoul-type Urban Regeneration Activation Areas' for 2020.
The newly selected areas are ▲1035, Doksan 2-dong, Geumcheon-gu ▲144-11, Sindang 5-dong, Jung-gu ▲799, Sinwol 1-dong, Yangcheon-gu ▲369, Hapjeong-dong, Mapo-gu ▲182-34, Mangu Bon-dong, Jungnang-gu. These areas will receive a seed fund of 50 billion KRW over five years from this year until September 2025 (10 billion KRW per site) to promote urban regeneration projects tailored to the characteristics of each region. If selected as New Deal projects in the future, they will receive an additional 50 billion KRW in national funding (10 billion KRW per site), expanding the total seed fund to 125 billion KRW.
The city plans to dispatch home repair specialists to the areas designated as urban regeneration activation areas from the early stages of the regeneration projects to provide practical support for improving the environment of low-rise residential areas. Typically, it takes 1 to 2 years to establish an activation plan, and additional time is required for planning when promoting New Deal projects, leading to low resident awareness in the early stages of regeneration projects. Therefore, the intention is to support residents in renovating, expanding, or rebuilding old houses from the moment the urban regeneration activation areas are designated. Home repair specialists are architectural experts engaged in collaborative construction work who will visit residents in low-rise residential areas to provide tailored consultations from housing diagnosis to major repairs, renovations, new construction, and small-scale maintenance projects from the residents' perspective.
Ryu Hoon, Director of Urban Regeneration at Seoul City, stated, "The areas designated as urban regeneration activation areas this time have many old and poor low-rise residential areas and many regions where traditional markets are losing vitality, making urban regeneration essential to preserve and improve living spaces." He added, "In particular, these areas have strong resident aspirations for regeneration and high potential by utilizing rich historical and cultural resources. We expect significant regeneration effects not only in improving residential environments but also in revitalizing the depressed local commercial districts."
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