Gyeonggi-do Invests 20 Billion KRW in Revitalizing Underdeveloped Old Downtowns... 14 Sites in 11 Cities and Counties Apply

Gyeonggi Province will invest a total of 20 billion KRW starting in June to promote regeneration projects for deteriorated old downtown areas tailored to regional characteristics.

On the 25th, Gyeonggi Province announced that 14 sites in 11 cities and counties applied for the 'Gyeonggi The Dream Regeneration Project' to revitalize declining old downtown areas and support sustainable urban regeneration opportunities.

The Gyeonggi The Dream Regeneration Project is designed to overcome the limitations of existing urban regeneration projects focused mainly on physical development by having resident communities take the lead in proposing various creative ideas suited to local conditions. In particular, it is a Gyeonggi Province-style urban regeneration project prioritized by Governor Kim Dong-yeon in the 8th term of the provincial government to revitalize old downtown areas.

Gyeonggi Provincial Government

Gyeonggi Province will form an evaluation committee composed of urban regeneration experts and finalize the phased project volume and budget within the total project cost of 20 billion KRW by the end of June through written and face-to-face evaluations, on-site inspections, and presentation assessments.

Jung Jong-guk, head of the Gyeonggi Province Urban Regeneration Promotion Team, said, "We hope this public contest will bring about tangible changes in local communities and become a model for sustainable development," adding, "We will do our best to ensure that more regions can experience the benefits."

Meanwhile, to revitalize declining old downtown areas within the province, Gyeonggi Province has achieved the highest nationwide selection of 66 sites in government urban regeneration public contests by cooperating with cities, counties, and urban regeneration support centers until last year. Additionally, in last year's Gyeonggi The Dream Regeneration Project contest, 11 sites in 10 cities and counties were selected?7 in the infrastructure-building phase, 3 in the project implementation phase, and 1 in the sustainable operation phase?and projects have been underway since this year.