Development of Original Downtown Areas in 7 Regions Including Suwon and Anyang Gains Momentum... Agreement to Be Signed on the 19th

Development of deteriorated old downtown areas in seven regions within Gyeonggi Province, including Suwon City, is expected to gain momentum.

Gyeonggi Province announced on the 18th that on the 19th, it will sign a written memorandum of understanding (MOU) for revitalizing old downtown redevelopment projects with seven local governments?Suwon, Namyangju, Anyang, Uijeongbu, Gwangmyeong, Hwaseong, and Siheung?and the Gyeonggi Housing and Urban Corporation (GH).

This MOU follows the enactment of the "Special Act on the Maintenance and Support of Aged Planned Cities" on December 26 last year, which made it possible to activate redevelopment projects in aged planned cities, including first-generation new towns. However, concerns about neglect and fairness in old downtown areas arose as a result.

Under this agreement, Gyeonggi Province will mutually cooperate in various areas, including ▲discovering and implementing policies to revitalize redevelopment projects in old downtown areas ▲early establishment, implementation, and dissemination of related policies ▲and carrying out public redevelopment projects in old downtown areas.

To this end, Gyeonggi Province will collaborate with metropolitan and basic local governments to promote policy discovery and early establishment and implementation related to old downtown areas for balanced development between aged planned cities and old downtowns.

Gyeonggi Province plans to gradually expand the participating cities and counties in the agreement. Currently, redevelopment projects are underway in 144 districts across 24 cities and counties within the province.

Jung Jong-guk, head of the Gyeonggi Province Urban Regeneration Promotion Division, stated, "The province has made efforts to prepare various policies related to redevelopment projects, including budget and accounting regulations and comprehensive management systems." He added, "Since we can hear the voices from the redevelopment project sites through the cities and the Gyeonggi Housing and Urban Corporation, more realistic balanced development of aged planned cities and old downtown areas is expected."