Taebaek City Invests 18.5 Billion KRW: Transformation of the Former Hwajeon Elementary School Site
Improved Living Conditions Expected for Seniors and Mining Company Residents
Taebaek City, Gangwon Province (Mayor Lee Sangho), announced on December 30 that it has been finally selected in the regional proposal category of the '2025 Second Half Specialized Public Rental Housing Contest' hosted by the Ministry of Land, Infrastructure and Transport.
The planned construction site is 167-2 Hwajeon-dong (the former Hwajeon Elementary School site), where a total of 40 units of public rental housing and specialized facilities will be built, with a total project cost of 18.5 billion KRW.
This selected project aims to utilize the closed school site to provide customized public rental housing for seniors aged 65 and over and residents of mining company housing, as well as other groups wishing to settle in the region.
Taebaek City received high marks for presenting a specialized housing model that reflects local conditions and housing demand. The city plans to create shared community facilities and convenience amenities within the apartment complex to promote both residential stability and the revitalization of the local community.
With this selection, Taebaek City has secured approximately 7 billion KRW in national funding. The city plans to proceed with detailed design and related administrative procedures, aiming to begin construction in 2027 and complete the project by the end of 2029.
A Taebaek City official stated, "Through the selection of this specialized public rental housing project, we have established a housing foundation tailored to the local situation," adding, "We will do our utmost to ensure the project is implemented successfully to substantially improve the living conditions of seniors and other vulnerable groups facing housing difficulties."
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