Gwangmyeong City Partners with Korea Real Estate Board to Strengthen Expertise in Maintenance Projects

Support for Construction Cost, Feasibility of Management Disposition Plans, and Estimated Contributions
Park Seung-won: "Transparency and Efficiency of Maintenance Projects Will Improve"

Gwangmyeong City in Gyeonggi Province has partnered with the Korea Real Estate Board to enhance the expertise of redevelopment and reconstruction projects.

On the 11th, Gwangmyeong City signed a 'Business Agreement for the Revitalization of Gwangmyeong City's Maintenance Projects' with the Korea Real Estate Board at the city hall's main conference room. The Korea Real Estate Board is a public institution under the Ministry of Land, Infrastructure and Transport that conducts real estate price surveys and disclosures, market analysis, and policy support.

Park Seung-won (left), Mayor of Gwangmyeong, and Son Tae-rak, President of Korea Real Estate Board, are holding up the agreement at the "Business Agreement Ceremony for Supporting the Revitalization of Maintenance Projects" held at Gwangmyeong City Hall on the 11th. Photo by Gwangmyeong City

This agreement aims to revitalize urban and housing maintenance projects to improve aging residential environments and promote balanced regional development through resident-led maintenance projects.

According to the agreement, the city will expand policy exchanges with the Korea Real Estate Board's 'Future City Support Center' and 'Small-scale Housing Maintenance Project Integrated Support Center.' The Real Estate Board will provide professional consulting support for the city's maintenance projects.

The Real Estate Board plans to promptly support key tasks of maintenance projects, such as construction cost verification, feasibility analysis of management disposition plans, and review of estimated contributions. In case of disputes related to construction costs, experts will be dispatched to mediate, and pre-consulting will be provided to ensure smooth project progress.

Park Seung-won, mayor of Gwangmyeong City, said, "This agreement will significantly enhance the efficiency and transparency of maintenance projects," adding, "We will continue to expand cooperation with public institutions to improve the expertise of urban maintenance and residential environment improvement projects." Son Tae-rak, president of the Korea Real Estate Board, stated, "We will spare no systematic and professional support for Gwangmyeong City, where there is high demand for urban maintenance."