Dedicated Support Center to Create 30,000 Youth Jobs and Revitalize Local Economy, Discovering 10 Projects in 3 Areas Including Outdoor Advertising Free Display Zones
[Asia Economy Reporter Park Jong-il] Songpa-gu (Mayor Park Seong-su) conducted an internal mid-term evaluation of the Munjeong Urban Development Project and established a development strategy to position the Munjeong-dong area as the center of Seoul's southeastern region, discovering 10 projects across 3 sectors.
The Munjeong Urban Development Project aims to transform the area around Munjeong-dong 350, which was previously farmland and vinyl greenhouse villages, into a large-scale business, commercial, and cultural facility complex to foster it as the business hub of southeastern Seoul.
The Seoul Housing and Communities Corporation is in charge of the project implementation, which began in 2007, and has since developed future-oriented business complexes, legal districts, and Culture Valley.
Since 2015, with the actual use of the project site through corporate occupancy and the opening of infrastructure, the Munjeong-dong area has achieved remarkable development.
The population influx effect includes approximately 4,000 residents, about 30,000 regular workers, and an average daily floating population of about 150,000. The occupancy rate in the future-oriented business complex is 95%, creating 30,000 youth jobs and revitalizing the local economy.
However, some improvements are needed for sustainable development, such as weekend population decline due to the weekday five-day business district centered on companies and office workers, discovering new industries for fostering new businesses, and strengthening support for tenant companies.
Accordingly, at the end of October, the district conducted an internal mid-term evaluation and discovered 10 projects in 3 areas: ▲ specialization of new growth engine industries and business activation ▲ strengthening the complex commercial district through the creation of a southeastern cultural and arts hub ▲ improvement of the education system and expansion of convenience facilities.
Key projects include promoting related services to discover and foster new growth engine industries and strengthen the functions of core anchor facilities, changing urban management plans, organizing and operating a dedicated support center to systematically manage the project area, promoting branding for Songpa's new center, and securing cultural content utilizing local resources such as Culture Valley and Tancheon Stream.
Among these, to promote branding, the district plans to focus on designating an ‘Outdoor Advertising Free Display Zone’ as a detailed strategy. By utilizing digital displays to enable creative advertising installations and designs, the plan is to develop the Munjeong-dong area into a unique attraction.
In addition, the district will actively promote attraction strategies to increase the influx and stay time of outsiders, such as creating a Southeastern Citizens' Hall, revitalizing Culture Valley, and developing cultural streets along Songpa Boulevard, thereby strengthening the functions of the cultural and arts complex commercial district.
The district plans to actively propose the results of this mid-term evaluation to Seoul City and the Seoul Housing and Communities Corporation to reflect them in investments and support for project implementation.
Park Seong-su, Mayor of Songpa-gu, stated, “For the successful completion of the Munjeong Urban Development Project scheduled for 2022, it is necessary to implement various support policies beyond the infrastructure established so far,” adding, “We will actively communicate with related organizations and seek development plans together to ensure Songpa becomes the center of southeastern Seoul.”
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