A bird's-eye view of the 'Gyeonggi eSports Stadium,' which Seongnam City, Gyeonggi Province, planned to build for the first time in the country. Photo by Seongnam City Hall
[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Seongnam City in Gyeonggi Province has canceled the 'Gyeonggi eSports Dedicated Stadium Construction Project' that was planned to be built in Pangyo.
On the 19th, Seongnam City announced that it decided to halt the eSports dedicated stadium construction project following the review results of the City Administration Coordination Committee, a body that deliberates and resolves important policies.
The City Administration Coordination Committee previously reviewed and resolved to stop the project after comprehensively considering changes in the eSports industry environment and the low expected benefits relative to the invested project costs.
The construction of the eSports dedicated stadium was promoted after Seongnam City was selected in a Gyeonggi Province public contest in July 2019.
At that time, the city planned to build an eSports stadium with one basement floor and three above-ground floors, covering a total area of 8,500㎡, on a 6,959㎡ site at Hwan-sang Children's Park in Sampyeong-dong, Bundang-gu, within Pangyo Techno Valley 1st District. The project budget was set at 39.3 billion KRW, including 10 billion KRW from provincial funds.
During the design process, the facility area increased from 8,500㎡ to 9,199㎡, and due to inflation and other factors, the project cost was raised by 13.5 billion KRW compared to the original plan.
As a result, since the project cost exceeded 50 billion KRW, a feasibility study was required, and because the project cost approved by the central investment review increased by more than 30%, a re-examination procedure had to be followed.
A city official explained, "We tried to reconsider the construction and operation methods of the stadium and sought private company participation and investment plans, but no investors appeared. Additionally, since the City Administration Coordination Committee requested a review on whether to proceed with the Gyeonggi eSports dedicated stadium project, we accepted the decision to halt the project."
The city plans to find ways to utilize the site secured for the stadium construction for the benefit of citizens.
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