Eunpyeong-gu Yeonsinnae Shopping District Public Parking Lot Development

Selected for the '2021 Ministry of SMEs and Startups Parking Lot Construction' Contest, Securing 10 Billion KRW in National and City Funding... Linked Promotion with Galhyeon Elementary School Reconstruction and Complex Project

[Asia Economy Reporter Jong-il Park] A public parking lot will be established in the central area of Yeonsinnae, the northwestern commercial district of Seoul.

Eunpyeong-gu (District Mayor Kim Mi-kyung) announced on the 16th that Yeonsinnae shopping district was selected as a target site for the Ministry of SMEs and Startups' ‘2021 Parking Environment Improvement Project,’ securing a total project cost of 12 billion KRW, including 10 billion KRW from national and city funds, and plans to build a large underground parking lot with two basement levels covering 6,000㎡, aiming for completion in 2023.

Eunpyeong-gu had long been promoting the construction of a parking lot in Yeonsinnae, where parking infrastructure was insufficient, but faced great difficulties in securing the site. Meanwhile, the redevelopment project of Galhyeon Elementary School, located in the center of Yeonsinnae, was combined with a complex project to build sports facilities, a library, and a public parking lot for residents along with the reconstruction work, successfully gathering the community’s support.

Over the past two years, Eunpyeong-gu has promoted the project through close consultations with related parties such as the Seoul Western Education Support Office and Galhyeon Elementary School, forming a construction TF team and conducting feasibility studies. Last year, they held project briefings and conducted surveys targeting Galhyeon Elementary School parents and students.

Yeonsinnae is a representative commercial district of Eunpyeong-gu frequented by a young customer base. It was selected as a ‘2030 Seoul Living Area Plan Regional Center’ and is expected to see increased parking demand due to positive factors such as the opening of the GTX-A line. This parking lot construction is expected to greatly contribute to revitalizing the commercial district.

District Mayor Kim Mi-kyung said, “First, I would like to express my gratitude to the Western Education Support Office and Galhyeon Elementary School officials. We will continue to work hard to satisfy all aspects of Yeonsinnae commercial district revitalization, resident convenience, and student safety.”