Seoul City to Provide Up to 30 Million KRW Support for Opening Vacant Private Parking Lots

Easy Access to Open Parking Lot Information with 'Seoul Parking Info'

[Asia Economy Reporter Kiho Sung] The Seoul Metropolitan Government announced on the 13th that it will promote the implementation of the affiliated parking lot opening support project this year and actively recruit participating citizens. This project supports parking lot facility improvement costs when opening idle parking spaces among affiliated parking lots to overcome the limitations of parking lot supply and securing in Seoul.

In particular, this year, the subsidy support will be expanded considering the inflation rate and the operation and management of open parking lots to broaden the benefits for participating citizens.

Accordingly, the scale of support funds will be greatly expanded. For new openings, the support scope will be expanded to up to 30 million KRW for facility improvement costs and 30 million KRW for parking lot operation revenue compensation to encourage new participants. Existing participants will also see an increase in maintenance support up to 10 million KRW when extending the opening, and for small-scale openings (3 to less than 5 spaces), maintenance support of up to 1 million KRW per space will be provided when extending the opening.

Furthermore, building owners who open affiliated parking lots can receive up to a 5% reduction in the traffic inducement charge depending on the utilization rate of the open parking lot, and can receive support for parking lot liability insurance premiums up to 2 million KRW as well as costs for installing “Thankful Sharing” guide signs.

Also, to increase the utilization rate of the opened parking lots, parking lots opened on a time-based paid or free basis, in addition to the regular pass (resident) system, will be linked and displayed on ‘Seoul Parking Information’ with location, opening hours, and usage fees so that citizens can easily find and use the parking lots.

Citizens who wish to participate in the affiliated parking lot opening project can apply through the relevant autonomous district or the ‘Seoul Parking Information’ website, and after an on-site investigation by the district staff, they can operate the parking lot after signing an agreement for the opening.

Yoon Jong-jang, Director of the Seoul Metropolitan Government Urban Transportation Office, said, “While it costs more than about 100 million KRW to create one parking space, opening an empty parking space can secure a parking space at a low cost of about 540,000 KRW per space,” and added, “Since various benefits and expected effects are anticipated, we ask for active participation from citizens.”