Gyeonggi-do Urban Regeneration to Change Significantly from Next Year... Application of 'Comprehensive Performance Indicators'

Gyeonggi Provincial Government

Gyeonggi-do's urban regeneration projects will undergo significant changes starting next year.

On the 16th, Gyeonggi-do announced that it will establish comprehensive performance indicators to efficiently promote the 'Gyeonggi The Dream Regeneration Project,' a Gyeonggi-do-style urban regeneration project under the 8th local government administration, and apply them from next year.

The Gyeonggi The Dream Regeneration Project is a comprehensive urban regeneration initiative led by Gyeonggi-do, focusing on improving the quality of life for local residents and revitalizing the regional economy.

Through the development of performance indicators, Gyeonggi-do has created a system to objectively evaluate the outcomes at each stage of the project and to easily verify the effects of the projects in each region. This is expected to enhance the efficiency and accountability of the regeneration projects and maximize their future impact.

The performance indicators are composed of mandatory and optional indicators, considering four key elements of the Gyeonggi-do-style urban regeneration project: Creativity, Opportunity, Sustainability, and Balance. 'Creativity' aims to solve local issues, 'Opportunity' promotes participation from various stakeholders, 'Sustainability' emphasizes the recovery of local vitality and long-term viability, and 'Balance' targets balanced development through the linkage of public funds and private investment.

Mandatory indicators include the rate of resolution of local issues, changes in resident participation rates, and changes in the floating population of key areas. Optional indicators can be selectively applied according to the characteristics and circumstances of each region, such as the establishment of local management organizations.

Gyeonggi-do plans to continuously monitor the performance of each region participating in the The Dream Regeneration Project using these performance indicators. Regions that achieve excellent results will have their cases shared and promoted, and incentives such as additional points will be given when applying for the next phase of project competitions. The application of performance indicators will begin with projects scheduled for completion in 2025 and will be actively utilized from next year.

An Seong-hyeon, head of the Gyeonggi-do Regeneration Planning Team, stated, "These comprehensive performance indicators will be an important tool to systematically evaluate the outcomes of the The Dream Regeneration Project," adding, "Through this, we will be able to secure both transparency and accountability of the project."

Meanwhile, to revitalize declining old downtown areas within the province, Gyeonggi-do collaborated with cities, counties, and urban regeneration support centers to participate in government urban regeneration contest projects, achieving the highest nationwide selection with 67 sites. Currently, projects are underway at 87 locations, including 20 Gyeonggi-do-style urban regeneration projects.