Chuncheon City Selects AMC for Urban Regeneration Innovation District
Accelerating the Establishment of an Advanced Video Industry Ecosystem
Creating a VFX-Centered Advanced Video Industry Hub
Chuncheon City in Gangwon Province (Mayor Yuk Donghan) announced on December 24 that it has selected Seoul Investment Management Co., Ltd. as the asset management company (AMC) to ensure the stable progress of the 'Urban Regeneration Innovation District Project' at the Camp Page site.
By selecting a professional asset management company prior to establishing a REIT, the city plans to systematically and efficiently manage complex administrative procedures from the project planning stage, including financial structure design and securing the Housing and Urban Fund.
Seoul Investment Management, selected as the asset management company for this project, is a public asset management company with Seoul Housing & Communities Corporation (SH) as its major shareholder. Established with SH's equity investment, the company possesses extensive experience and expertise in overseeing urban regeneration innovation district projects.
In particular, Seoul Investment Management has participated as an asset management company in several urban regeneration innovation districts, including in Goyang, Gyeonggi Province, and is recognized for its high level of understanding regarding the structure, procedures, and unique characteristics of such projects.
In September last year, Chuncheon City was selected for the Ministry of Land, Infrastructure and Transport's Urban Regeneration Innovation District Project for a portion of the Camp Page site (127,000 square meters), securing 25 billion won in national funding over five years. Starting next year, the city will begin administrative procedures, establish a REIT by the first half of 2027, obtain project implementation approval in the second half of the same year, commence construction in 2028, complete the project in 2029, and begin company move-ins in 2030, following a phased approach.
The Chuncheon Camp Page Urban Regeneration Innovation District area is planned to attract advanced video industries, including VFX (visual effects), as a new growth engine for the future. It will be developed as a 'K-Content Industry Hub' that integrates corporate spaces for advanced video industries, video studios, a convention center, and parks. The goal is to go beyond simple land development and establish an advanced video content industry ecosystem as a future growth driver for Chuncheon.
This initiative aligns with the government's K-Content promotion policy. The Ministry of Culture, Sports and Tourism has set next year's content sector budget at 1.6 trillion won, a 27% increase from the previous year, and is fostering the content industry as a national strategic industry with the goal of achieving a 'K-Culture 300 Trillion Won Era.'
As the government strengthens its policy direction-expanding support for AI-based video content production, increasing investment in broadcasting and video, and enhancing policy finance support-the Chuncheon Camp Page Urban Regeneration Innovation District is gaining strategic value as a hub for VFX and the video industry.
An official from Chuncheon City stated, "By collaborating with Seoul Investment Management, a public asset management company invested in by Seoul Housing & Communities Corporation and an expert in urban regeneration innovation districts, we have secured both public interest and expertise for the project." The official added, "In line with the government's K-Content promotion policy, we will do our utmost to achieve completion by 2029 and make Camp Page a core hub leading Chuncheon's next 100 years."
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