Seoul City and Gangwon Province Sign Business Agreement on the 8th
Purchasing Migrant Housing to Supply Newlyweds and Workers
The Seoul Metropolitan Government and Seoul Housing and Communities Corporation (SH Corporation) have signed an agreement with Gangwon Province to actively promote the Seoul-Local Win-Win Urban Housing Project called 'Gold City.'
Gold City is a project designed to support the migration of retirees who wish to live comfortably with affordable housing costs compared to Seoul by building new towns in local areas where jobs, housing, and leisure activities are available. It was devised to simultaneously revitalize regions facing the risk of population extinction in a super-aged society and resolve urban housing issues in Seoul.
Kim Heon-dong, President of SH Corporation, Oh Se-hoon, Mayor of Seoul, Kim Jin-tae, Governor of Gangwon Province, Park Sang-su, Mayor of Samcheok, and Oh Seung-jae, President of Gangwon Development Corporation, are holding up the signed agreement after the signing ceremony.
On the 8th, SH Corporation announced that it signed a business agreement with the Seoul Metropolitan Government, Gangwon Province, Samcheok City, and Gangwon Development Corporation to promote Gold City. The signing ceremony was attended by Seoul Mayor Oh Se-hoon, Gangwon Governor Kim Jin-tae, Samcheok Mayor Park Sang-su, SH Corporation President Kim Heon-dong, and Gangwon Development Corporation President Oh Seung-jae.
According to this agreement, the five cooperating organizations will promote a pilot project of Gold City to simultaneously revitalize depopulated areas and resolve Seoul's urban housing problems. Specifically, they will cooperate in areas such as ▲ investigating and selecting pilot project candidate sites for Gold City in Gangwon Province including Samcheok ▲ dividing roles among the agreement institutions for the Gold City pilot project and forming and operating a working-level consultative body ▲ jointly conducting research on the effects of Gold City.
SH Corporation plans to create Gold City in areas preferred by the target demographic, featuring a clean natural environment and good access to medical facilities, universities, culture, and leisure, so that migrants can enjoy health, hobbies, leisure activities, and lifelong education while engaging in social and economic activities by linking urban functions.
Meanwhile, existing homes in Seoul owned by migrants will be supported to be purchased or rented by the public sector according to the migrants' preferences to be used as retirement funds, and various measures such as re-supplying these homes to workers and newlyweds are under consideration.
Furthermore, SH Corporation plans to propose legal and institutional improvements and cooperation with related organizations for the successful promotion of the Gold City project and expand the project step-by-step. They plan to concurrently promote projects of various scales, such as ‘Gold Village,’ a multi-generational integrated residential complex utilizing national and public land in Seoul, and ‘Gold Town,’ developed in the metropolitan area adjacent to Seoul including the 3rd New Town.
Kim Heon-dong, President of SH Corporation, said, “The need for Seoul-local co-growth is greatly emerging for balanced national development and efficient utilization of land,” adding, “We plan to promote Gold City, which has various functions such as universities, resorts, and medical facilities, in cooperation with local governments so that students, retirees, and young and middle-aged people can enjoy it together, linked with the Innovation Park Gold Village directed by Seoul Mayor Oh Se-hoon during his Singapore trip in July 2022.”
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