The Yeokdong area in Gwangju-si, Gyeonggi Province, will undergo an urban regeneration project with an investment of 8.1 billion KRW.
On the 13th, Gyeonggi Province announced that it had given final approval on the 12th to the "Yeokdong Urban Regeneration Activation Plan Amendment (Draft)" submitted by Gwangju-si. The urban regeneration activation plan is an implementation plan for promoting urban regeneration projects. According to the Special Act on Urban Regeneration Activation and Support, the city or county, which holds the authority to establish strategic plans, drafts the plan, and Gyeonggi Province approves it.
Yeokdong in Gwangju-si is a central commercial area densely populated with Gyeongan Market and commercial districts. Although many deteriorated and substandard residential areas are distributed, the living conditions are poor due to outdated infrastructure.
The Yeokdong urban regeneration activation plan was first approved and announced in March 2023. Through this amendment, the project will focus on improving residential conditions tailored to the area's characteristics and enhancing village vitality.
The amended activation plan targets the area around Yeokdong 3-13, covering a project zone of 150,000 square meters with an investment of 8.18 billion KRW.
The main projects include the creation of a community center for everyone, the establishment of the Pabalma Center and street, among others. Gyeonggi Province expects these efforts to improve residents' quality of life and revitalize the local economy. Additionally, home repair support projects, underground utility projects, and various cultural program operations will also be promoted.
Ahn Seong-hyun, head of the Regeneration Planning Team at Gyeonggi Province, stated, "Through the Yeokdong urban regeneration project in Gwangju-si, we expect a significant improvement in residents' quality of life and revitalization of the local economy."
Since 2018, Gyeonggi Province has been supporting cities and counties by providing provincial funds and expert consulting for urban regeneration strategies and activation plans established by local governments to actively promote urban regeneration projects. So far, 29 cities and counties, including Gwangju-si, have established urban regeneration strategic plans, and 53 urban regeneration activation plans have been prepared and are being implemented.
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