Announcement of 5 Major Pledges in Seoul Area
Emphasizing Housing Stability Including Supply of Sale-Type Basic Housing
[Asia Economy Reporter Park Jun-yi] Lee Jae-myung, the Democratic Party's presidential candidate and Governor of Gyeonggi Province, announced five pledges to promote the development of Seoul, including plans to underground the above-ground sections of Subway Line 1 in Gangbuk and the Seoul Gyeongbu Expressway. The plan includes fostering industrial development tailored to the characteristics of each Seoul region such as Magok, Guro·Geumcheon, Yangjae, and Seongsu·Mapo.
On the 4th, Lee held an online press conference via YouTube to announce the "Five Major Pledges for Seoul" and said, "I will elevate Seoul to become the world's most economically dynamic city, where cultural diversity and creativity converge, and which offers a pleasant living environment."
In the Gangbuk area, he revealed plans to underground the above-ground sections of Subway Line 1 running from Seoul Station to Onsu Station and from Cheongnyangni Station to Dobong Station to create spaces for rest and work. In the Gangnam area, he also said he would consider undergrounding the section of the Seoul Gyeongbu Expressway from the southern end of Hannam Bridge to Yangjae to resolve chronic traffic congestion.
Near Gimpo Airport, he envisions supporting the area to become a hub for economic development in the southwest region through a domestic air logistics industry cluster.
Lee stated, "I will make Seoul a global economic capital and a global hub for finance, R&D, and startups," adding, "By attracting world-class financial companies and corporate research institutes, Seoul will become the economic capital of the world beyond Korea."
To this end, he said he would form a pan-government international finance attraction team to draw international financial capital and talent to Seoul. He also revealed plans to utilize universities concentrated in Seoul to create campus towns and, if the National Assembly relocates to Sejong, to develop the National Assembly site into a youth science and startup cluster.
By region, Magok and the Guro·Geumcheon G-Valley will be developed as clusters for advanced information and communication technology (ICT), Yangjae as an artificial intelligence (AI) cluster, Hongneung and Changdong·Sanggye as bio clusters, and Seongsu·Mapo as clusters centered on social ventures and technology startups.
Regarding housing stability in Seoul, he proposed supplying sale-type basic housing. He said, "We will steadfastly pursue the Moon Jae-in administration's plan to supply 320,000 housing units in Seoul," adding, "We will strengthen the business feasibility and public nature of urban reconstruction, redevelopment, and station-area complex development to sufficiently supply private sale housing." Previously pledging to supply 1 million basic housing units nationwide, Lee also revealed plans to sufficiently supply sale-type basic housing using national land such as railway vehicle depots.
Additionally, Lee pledged, "I will make Seoul a center for culture, tourism, exhibitions, and conventions," promising to support the construction of VR (virtual reality) and AR (augmented reality) centers in Sangam DMC, expand K-POP infrastructure in Gangnam, and complete the Dobong K-POP dedicated 'Seoul Arena' early.
He also plans to increase the historical and cultural tourism added value in Jongno and foster the exhibition and convention industry (MICE) around COEX and Jamsil Sports Complex.
Other pledges include ▲developing Yongsan National Park into a space comparable to New York's Central Park ▲supporting the construction of zero-energy buildings (ZEB) in Seoul ▲expanding electric and hydrogen vehicle charging infrastructure ▲supporting public transportation such as buses and taxis with electric and hydrogen vehicles ▲expanding infrastructure for one-person mobility like bicycles ▲and fully converting delivery motorcycles to electric vehicles by 2030 to create an eco-friendly city.
Lee said, "I have only promised what I can keep, and I have always kept my promises," adding, "I will make the Seoul that citizens dream of a reality."
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