Guri-si, 'Hangang Riverside Urban Development Project' Investment Feasibility Service Report Meeting

Location map of Han River waterfront urban development project in Guri City [Provided by Guri City]

[Asia Economy Reporter La Youngcheol] Guri City in Gyeonggi Province announced on the 18th that it held a kickoff briefing session for the feasibility study on investment in the (tentative name) Guri Han River Riverside Urban Development Project.

According to the city, the briefing session held on the 16th analyzed the project's appropriateness, cost-benefit analysis, and financing methods, and discussed the direction of the feasibility study, including the establishment of a special purpose vehicle (SPV), investment feasibility review, and optimal project plans.

In particular, the session focused intensively on the impact of the project on Guri City's development, the project's success potential, and differentiation from other regional development cases through discussions and Q&A.

The Guri Han River Riverside Urban Development Project is being promoted based on the Urban Development Act on approximately 1.49 million square meters in the Topyeong-dong area, with the concept of public interest to prevent indiscriminate development and ensure planned management.

Additionally, to create jobs and revitalize the local economy, the project aims to link the Digital New Deal, Green New Deal, and safety net reinforcement, targeting the development of a smart city considering the Fourth Industrial Revolution technologies such as artificial intelligence (A.I).

The briefing session was attended by Mayor Ahn Seungnam, related officials, Guri Urban Corporation, the Guri A.I. Platform City Development Project Group, and the chairman of the Korea Institute for Industrial Strategy, the service provider.

Previously, Guri Urban Corporation signed a joint business agreement in February with the Guri A.I. Platform City Development Project Group, led by KDB Industrial Bank as the representative company, and composed of KT, Kakao Enterprise, Daewoo Construction, POSCO Construction, and Eugene Corporation, selected through a private business operator competition.