Seongnam City to invest 2 trillion won in urban regeneration by 2040, speeding up projects with 'unified approval'

Seongnam City is embarking on an ambitious plan to revitalize its aging urban areas, committing a substantial 2 trillion won by 2040. This significant investment targets the redevelopment and reconstruction of older districts, including the well-known Bundang area and the original city centers of Sujeong and Jungwon. The initiative aims to enhance the quality of life for residents and secure the city's future by creating safer and more comfortable living environments.

The financial strategy involves allocating funds for essential infrastructure such as roads and water systems, alongside provisions for expanding school facilities to accommodate population growth. A key component of the plan is to alleviate the financial burden on residents by offering support for relocation costs and subsidizing loan interest for tenants. This comprehensive approach ensures that the redevelopment process is managed with the residents' well-being as a top priority.

“

This policy is more than just construction support; it is a promise that will change the quality of citizens' lives and determine the future of the city.

To accelerate these projects and mitigate rising construction costs, Seongnam City will implement an improved administrative system. This includes a 'unified approval' process that consolidates various review stages, significantly shortening the time required for permits and approvals. Furthermore, the city will re-examine methods for calculating development density and ease public contribution requirements to boost the economic viability of reconstruction projects, ensuring that both older and newer parts of the city can thrive together.

“

Based on a solid financial foundation, we will create a safe and comfortable Seongnam where the original city and the new city leap forward together.