After a renewed bid, partnering with a professional AMC to launch "urban regeneration innovation"
Kickoff briefing held...sharing project implementation plan and roadmap
Detailing a structure for industrial expansion linked to the R&D special zone
Chuncheon City in Gangwon Province (Mayor Yuk Donghan) has begun full-scale efforts to foster the Kaempeu Peiji Urban Regeneration Innovation District as a "hub for advanced industries."
Chuncheon City held the "Camp Page Urban Regeneration Innovation District Project Kick-off Briefing" on the 25th in the city hall's mid-sized conference room. Photo by Chuncheon City
On the 25th, Chuncheon City held the "Kaempeu Peiji Urban Regeneration Innovation District Project Kickoff Briefing" in the city hall's mid-size conference room and shared the project implementation plan and step-by-step roadmap. The meeting was attended by Mayor Yuk Donghan, officials from relevant departments, representatives from companies in the advanced visual and industrial sectors, and faculty members from Kangwon National University, who exchanged views on the direction of the project.
The briefing was organized as a follow-up measure to the selection of an Asset Management Company (AMC) in December last year, in order to review the project implementation system and to flesh out the future course of action. The report covered the project overview and discussions on the plans for key facilities to be introduced, concepts for core industries, and the roadmap for project implementation. In particular, it presented both the strategy for industrial expansion linked to the designation of the research and development special zone and the plan for pursuing step-by-step administrative procedures.
Through this project, a portion of the Kaempeu Peiji site, measuring 127,000 square meters, will be developed into a "hub for advanced industries" that will lead Chuncheon’s future industries. In particular, with Chuncheon City being finally designated as the Gangwon Research and Development Special Zone in December last year, Kaempeu Peiji is expected to serve as a base for industrial expansion in connection with the special zone. The concept is to establish a foundation where technology development and commercialization can proceed in succession by combining research and development (R&D) functions with industrial demonstration functions. The city plans to strengthen cooperation in line with the progress of infrastructure development in the special zone and to maximize the value of the project as a strategic base for national strategic industries.
In addition, efforts are underway to attract advanced visual industries to the area, including VFX (visual effects). The plan is to create a complex space that brings together office space for advanced visual companies, film studios, convention functions, and parks, thereby establishing a structure that integrates industrial and cultural functions.
The development of Kaempeu Peiji has long been a long-cherished project for Chuncheon City. During the promotion process, the city faced numerous challenges and failed once in the 2024 public competition. Thereafter, it supplemented the project plan and made various efforts, including continued consultations with central government ministries, to make a renewed attempt, and in September last year it was finally selected for the Ministry of Land, Infrastructure and Transport’s public offering for an "Urban Regeneration Innovation District."
After being selected for the national public offering, the city has been carrying out follow-up measures in parallel to enhance the stability and executability of the project. In December last year, it selected an Asset Management Company (AMC). The selection of the AMC is significant as a preemptive step prior to establishing a real estate investment trust (REITs), providing a foundation for professionally promoting the design of the financial structure, securing funds from the Housing and Urban Fund, and carrying out licensing and approval procedures. The city plans to work with the professional asset management company to sequentially implement the remaining procedures, including securing Housing and Urban Fund resources.
Mayor Yuk Donghan said, "With today’s briefing, we are now entering the implementation phase. I ask each department to clearly define its role and manage the schedule and procedures without any gaps," adding, "Since this is a project that was selected after a renewed challenge, the completeness of execution is now crucial. Please clarify the interdepartmental cooperation system and concretize the plans for linkage with the research and development special zone."
An official from Chuncheon City stated, "In cooperation with the professional asset management company, we will systematically carry out the preparatory procedures this year," and added, "By developing Kaempeu Peiji, in connection with K-content and the research and development special zone, into an innovation hub where advanced industries and culture coexist, we will lay the groundwork for the growth of the aging original downtown."
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