[Asia Economy (Hongseong) Reporter Jeong Il-woong] The land development of Naepo New Town is nearing completion. Chungnam expects that the recently designated innovation city effect, coupled with the land development of Naepo New Town, will create a synergy effect for the new town's development.
According to Chungnam Province on the 14th, Chungnam designated Naepo New Town as the planned site for the provincial government relocation in 2006 and designated the new town urban development zone for the provincial government relocation the following year.
Currently, Naepo New Town is being developed over an area of 9,951,729㎡ covering Hongbuk-eup and Sapgyo-eup in Yesan-gun. As of the end of last month, the completed land development area was 9.66 million㎡, showing a progress rate of 97.1%. The province is conducting final works aiming for completion by the end of this year.
Along with land development, the attraction of institutions and organizations is also progressing smoothly. Of the originally targeted total of 107 institutions and organizations, 103 have already relocated to Naepo New Town or nearby areas, and among the remaining four, one is preparing to relocate, according to the province.
Living conditions are also improving. In Naepo New Town, so far, 10 apartment complexes with 11,018 households have been completed, 6 complexes with 5,655 households are under construction, and 5 complexes with 6,200 households have received project approval. For detached houses, 129 have been completed, 24 are under construction, and 14 are preparing for construction after approval.
As Naepo New Town takes shape, the population has increased 55 times compared to December 2012, when the provincial government relocated, reaching 27,834 people.
In particular, the province expects that the recent designation of Chungnam as an innovation city will accelerate the revitalization of the new town.
A provincial official said, “Naepo New Town has gradually taken on the appearance of a new town as institutions and organizations have settled and the population has increased,” adding, “However, the reality was that there were limitations in finding growth engines to revitalize the city.”
He continued, “But with the recent designation of Chungnam as an innovation city, the situation is expected to change,” expressing expectations that “the attraction of public institutions and private companies, along with the resulting increase in resident population, will serve as a catalyst for the revitalization of the new town.”
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