[Asia Economy (Hongseong) Reporter Jeong Il-woong] Seventeen new sites in Chungnam Province have been added to the Urban Regeneration New Deal project list.
On the 20th, Chungnam Province announced that four Urban Regeneration New Deal projects and thirteen Urban Regeneration Preliminary projects were finally selected in the recent Ministry of Land, Infrastructure and Transport's urban regeneration project competition.
The newly selected Urban Regeneration New Deal projects include Boryeong City's "Dajeonghan Nuribodeum Center Construction Project," Asan City's "Dogo Oncheon Area Innovation Platform SPAce@DOGO," Buyeo County's "Soburi Community Care Center Construction Project," and Seocheon County's "Seongju Village Sai Sangsaeng Center Construction," among others.
Additionally, the preliminary project sites include three locations in Asan, two in Seocheon, and one each in Cheonan, Gongju, Boryeong, Nonsan, Cheongyang, Hongseong, Yesan, and Taean.
A total budget of 46.9 billion KRW will be gradually invested in these areas through 2026.
Earlier, Chungnam was selected for nine Urban Regeneration New Deal projects in the first half of this year. Combining both the first and second halves, a total of 26 sites were selected, securing 61.6 billion KRW in national funding.
When adding matching local government funds, inter-ministerial cooperation, private investment, and separate local government project funds, the total project cost increases to 534.7 billion KRW.
Lee Dong-min, Director of the Provincial Construction and Transportation Bureau, said, "We will do our best to ensure that urban regeneration projects carried out in the region proceed without any setbacks," and added, "Above all, administrative efforts will be focused on ensuring that urban regeneration projects contribute to revitalizing the local economy and improving residents' living environments."
Meanwhile, since the Urban Regeneration New Deal project began in 2014, the province has secured a total of 41 sites and 335.3 billion KRW in national funding up to this year. Including local government projects, inter-ministerial cooperation projects, and private capital investment projects, the province expects the total budget invested in projects to reach 2.0576 trillion KRW by 2026.
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