Korail-Gwangmyeong City, Complex Development of Space Innovation Zone 'KTX Gwangmyeong Station Railway Site'

Korea Railroad Corporation (KORAIL) announced on the morning of the 22nd that it signed a business agreement with Gwangmyeong City at Gwangmyeong City Hall for the 'Complex Development of Railway Land around KTX Gwangmyeong Station.'

Kim Ki-tae, Head of New Growth Business Division at Korail (left), and Park Seung-won, Mayor of Gwangmyeong City, are taking a commemorative photo after signing a business agreement for the "KTX Gwangmyeong Station Area Railway Site Complex Development" on the morning of the 22nd. / Photo by Korail

This agreement was made to successfully develop the 26,000㎡ station area, including the Gwangmyeong Station parking lot, which was designated as a Spatial Innovation Zone by the Ministry of Land, Infrastructure and Transport in July.

The Spatial Innovation Zone is a special zone where the Ministry of Land relaxes regulations such as building use and floor area ratio to transform sites applied for by local governments, including idle land, into urban growth hubs. The KTX Gwangmyeong Station site was selected as a project candidate due to its expected growth as a transportation hub area driven by industrial and economic activities.

The signing ceremony was attended by Kim Ki-tae, Head of KORAIL’s New Growth Business Division, and Park Seung-won, Mayor of Gwangmyeong City. The two organizations agreed to cooperate on development planning, feasibility studies, and establishing development guidelines. KORAIL will promote a complex development project on the aging parking lot site, while Gwangmyeong City will support and cooperate with administrative matters such as related permits. The site will begin development planning next year, followed by a public bid for developers, design, permits, and will enter full-scale development starting in 2028.

Head Kim Ki-tae stated, "We will collaborate with related organizations to develop the Gwangmyeong Station area into a high-density complex space equipped with advanced convergence facilities," adding, "We will unite our efforts to make it a landmark of the city leading spatial innovation."