Seongnam City Signs Business Agreement with LH for Urban Renewal and Future City Re-Creation

Seongnam Mayor Shin Sang-jin (right) is taking a commemorative photo with LH President Lee Han-jun after signing the "Urban Maintenance and Future City Space Re-creation Business Agreement" on the 1st. Photo by Seongnam City Hall

[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Seongnam City in Gyeonggi Province is promoting a collaborative project with Korea Land and Housing Corporation (LH) to revitalize urban maintenance and recreate future urban spaces.

On the 1st at 10:30 a.m., Seongnam City announced that Mayor Shin Sang-jin and LH President Lee Han-jun attended a signing ceremony for the "Basic Business Agreement for Urban Maintenance and Future Urban Space Recreation" held in the meeting room on the 2nd floor of City Hall.

This agreement is the first of its kind among the first-generation new towns, initiated to lead reconstruction and balanced urban development policies, following the government's recent commissioning of a research project to establish basic policies for first-generation new town maintenance.

According to the agreement, LH will support discussions on expanding necessary infrastructure and constructing temporary housing for relocation during the establishment of the "2030 Seongnam Urban Residential Environment Maintenance Basic Plan and Maintenance Measures," which Seongnam City is currently reviewing for feasibility.

Additionally, LH will share its experience and information from constructing first-generation new towns such as Seongnam Bundang, Goyang Ilsan, Bucheon Jungdong, Anyang Pyeongchon, and Gunpo Sanbon, as well as redevelopment and reconstruction of the Sujeong and Jungwon old downtown areas.

Mayor Shin Sang-jin stated, "We will build a foundation for urban regeneration that achieves balanced development between first-generation new towns like Bundang and the Sujeong and Jungwon old downtown areas in cooperation with LH," adding, "We expect to lead the establishment and transformation of urban spatial structures by presenting reconstruction and redevelopment policy models."

Mayor Shin specifically requested LH to reconsider the Seongnam Seohyeon Public Housing District Development Project and withdraw litigation cost claims, change the design of the Seongnam Bokjeong 2 Public Housing District Development Project, review the supply price of relocation sites in the Seongnam Geumto Public Housing District Development Project, and continuously promote redevelopment projects using the cyclical maintenance method.

Earlier, on the 2nd of last month, the city formed a Reconstruction and Redevelopment Promotion Support Group directly under the mayor. Composed of 17 members including private experts, the support group advises on policy directions for reconstruction and redevelopment to swiftly promote the redevelopment of the first-generation new town Bundang and the Sujeong and Jungwon old downtown areas.