Five Local Governments of First-Generation New Towns Urge Revitalization of Aging New Towns... Press Conference at the National Assembly on the 10th

[Asia Economy Reporter Park Hyesook] Five local governments in the Seoul metropolitan area, including Bucheon City in Gyeonggi Province, which hosts the 1st generation new towns, will hold a joint press conference at 3 p.m. on the 10th at the National Assembly Communication Office to urge the redevelopment and revitalization of the 1st generation new towns.

The mayors of Bucheon, Goyang, Seongnam, Anyang, and Gunpo will state at the press conference that as the 30-year occupancy period of the 1st generation new towns approaches, citizens are experiencing increased inconvenience due to poor residential environments and severe parking shortages, raising concerns about decline. They plan to demand the enactment of a special law for the revitalization of the aging 1st generation new towns from the political circles.

Furthermore, since the 1st generation new towns were the first planned cities developed by the Korean government, they are expected to urge the government to take fundamental measures as a responsible party to transform these towns into new planned cities that reflect future demands.

These local governments view the revitalization of the aging 1st generation new towns as aligned with the government's housing supply policy direction aimed at stabilizing the housing market through the reorganization of urban functions, and have agreed to respond jointly until the government promptly establishes countermeasures.

Prior to the press conference, the five mayors will sign a 'Win-Win Agreement for the Revitalization of Aging 1st Generation New Towns' at 2:20 p.m. in the 3rd meeting room of the National Assembly Members' Office Building, and the chairpersons of the five city councils also plan to sign a separate agreement.

A Bucheon City official stated, "The five mayors decided to hold a joint press conference to raise awareness of the aging conditions of the five 1st generation new towns, the necessity of urban redevelopment and revitalization, and the need for the enactment of a special law, as well as to urge support from the government and political circles."