Ahn Cheol-soo Proposes 'No. 1 Bill,' the 'Special Act on Aging New Towns of 1st and 2nd Phases'

Submission of Bill No. 1
Accelerating Urban Regeneration Projects
by Establishing 'Regeneration Project Subcommittee'

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] On the 24th, Ahn Cheol-soo, a member of the People Power Party, announced that he will propose the "Special Act on Support for the Regeneration of 1st and 2nd Generation Aged New Towns."

The "Special Act on Aged New Towns" aims to improve the residential environment by easing regulations on remodeling, reconstruction, and redevelopment of 1st and 2nd generation new towns and establishing measures to improve metropolitan transportation. Additionally, it considers long-term development directions for urban regeneration by creating industrial and cultural infrastructure together.

Unlike previously proposed bills that stipulate the establishment of an "Urban Regeneration Special Committee" chaired by the Minister of Land, Infrastructure and Transport, this special act places a "Subcommittee on Regeneration Projects of Aged New Towns" under the Urban Regeneration Special Committee according to the Urban Regeneration Act to accelerate project progress.

Specifically, the Minister of Land, Infrastructure and Transport will ▲establish a basic plan to support the regeneration of aged new towns ▲formulate metropolitan transportation improvement measures for promotion districts in aged new town regeneration areas, and the mayor will be granted special authority to ▲change land use zones ▲ease building regulations, thereby revitalizing urban regeneration projects.