Full-Scale Promotion of POSCO Dormitory Construction and Relocation... Pohang City-POSCO Win-Win Cooperation Opens New Chapter

Haedo-dong Selected as Final Priority Negotiation Site for New Construction and Relocation
Relocation to City Center Aims to Revitalize Local Economy and Promote Urban Regeneration

Pohang City, together with POSCO, is set to actively promote the construction and relocation project of the POSCO dormitory to strengthen coexistence and cooperation with the local community and revitalize the regional economy.

Last October, the city formed a ‘Construction and Relocation Support TF’ to prepare a systematic business plan for relocating the dormitory to the city center. In January this year, a project proposal process was conducted targeting Haedo-dong and Songdo-dong to secure a site for an 800-room dormitory.

As a result, after comprehensively reviewing factors such as administrative procedure duration, resident participation, and potential for urban regeneration linkage, Haedo-dong was finally selected as the priority negotiation site.

This project is expected to serve as an opportunity not only for simple dormitory construction but also to revitalize the stagnant local commercial district and promote urban regeneration through relocation to the city center.

In particular, it is anticipated that dormitory residents will actively use nearby shops, restaurants, and cultural facilities, resulting in significant economic ripple effects on the area.

To expedite the project, Pohang City plans to fully support administrative efforts by signing agreements with landowners in the priority negotiation area together with POSCO and facilitating smooth land acquisition negotiations.

POSCO, having grown into a global company thanks to the support and cooperation of local residents, also intends to continuously strive to fulfill its corporate social responsibility by further strengthening coexistence and cooperation with the local community through this dormitory construction and relocation project.

Furthermore, POSCO plans to make the dormitory a regional landmark to maximize economic ripple effects and to breathe new life into the relatively underdeveloped city center area through ongoing cooperation and support.

A Pohang City official said, “This will be a meaningful project contributing to local community development through close cooperation with POSCO,” adding, “We hope this dormitory construction project will become a new milestone that revitalizes the regional economy and promotes urban regeneration.”

Pohang City intends to continue promoting various cooperative projects in the future for sustainable urban development where businesses and the local community grow together.