Complex Cultural Facility Established on Gimpo National Land... Incheon 3rd Supply Unit Focuses on Urban Development

'The 1st National Property Policy Deliberation Committee Meeting' Held

[Asia Economy Sejong=Reporter Lee Jun-hyung] State-owned land located in Gurrae-dong and Masan-dong, Gimpo, has been selected as a new target site for land development projects. A complex cultural facility is expected to be established in the area. An urban development project will be promoted on the site of the 3rd Supply Corps located in Incheon.

The Ministry of Economy and Finance announced that Choi Sang-dae, the 2nd Vice Minister of the Ministry, held the "2023 1st State Property Policy Deliberation Committee" at the Government Seoul Office Building on the morning of the 6th. The committee selected new target sites for entrusted land development of state-owned property and approved the donation and transfer project plan following the relocation of military units. Vice Minister Choi said, "It is important to develop and utilize state-owned property in the most suitable way according to the characteristics of each region," adding, "We will jointly promote state-owned property development projects with local governments."

The newly selected land development target sites are state-owned lands in the Gurrae-dong and Masan-dong areas of Gimpo. First, the state-owned land in Gurrae-dong, Gimpo, covers an area of 55,243㎡ (approximately 16,711 pyeong) with a land value of 133.2 billion KRW. The government plans to create an innovation startup and startup complex space on the site in cooperation with Gimpo City. An industrial expansion cluster for the western metropolitan area and distribution and sales facilities will also be established. A government official explained, "The site has remained unused since the development of Hangang New Town, and there have been continuous development demands from local residents," adding, "Considering that it is adjacent to the recently announced Gimpo Hangang 2 New Town public housing district and can be developed in connection with it, the site was selected."

A complex cultural facility will be built on the state-owned land in Masan-dong, which was also selected as a land development target site. The area of the state-owned land is 29,084㎡ with a land value of 66.7 billion KRW. The plan is to establish a complex cultural platform featuring a media art center and theme park, creating synergy with existing infrastructure such as Hangang New Town Lake Park and the sports center.

On some military sites located in Incheon, a donation and transfer project will be promoted. This project involves local governments constructing replacement facilities for military units or other national facilities, donating them to the state, and then receiving the original state-owned land for development. According to the committee's decision, Incheon City, the project implementer, will donate replacement facilities worth 590 billion KRW to the state and relocate two military units and four reserve forces training centers located in Incheon. Subsequently, Incheon City will promote an urban development project on the site of the 3rd Supply Corps in Sangok-dong, Incheon, which it receives from the state. Parks and other facilities will be created on the four former reserve forces training sites.

The committee also discussed the "State Property Comprehensive Survey Promotion Plan" on the same day. This survey aims to identify idle and underutilized state-owned properties and is a follow-up measure to the government's "Plan to Activate the Sale and Utilization of Idle and Underutilized State-Owned Properties."

According to the promotion plan, the utilization status of administrative properties under government ministries will be surveyed by the end of this year. The comprehensive survey targets approximately 2 million land parcels and about 5,000 buildings. This is the first comprehensive survey of state-owned properties conducted by the government in five years since 2018.

The government plans to sell the identified idle and underutilized properties to the private sector or local governments or utilize them for more important public purposes. Vice Minister Choi said, "This comprehensive survey should serve as an opportunity for not only the state but also all citizens, including local governments, to utilize idle state-owned properties more efficiently, thereby boosting economic vitality and revitalizing the regional economy."

Vice Minister Choi Sang-dae Presiding Over the 1st National Property Policy Deliberation Committee Meeting
(Seoul=Yonhap News) Vice Minister Choi Sang-dae of the Ministry of Economy and Finance is presiding over the '1st National Property Policy Deliberation Committee Meeting for 2023' held at the Government Seoul Office Building on the 6th. January 6, 2023 [Provided by the Ministry of Economy and Finance. Redistribution and DB prohibited]
Photo by Yonhap News
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