DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News)A pilot project of Urban Regeneration New Deal Project that will regenerate deteriorated residential neighborhoods in the old downtown area in Daegu will be implemented in earnest.

Daegu City announced on August 3 that the pilot project will be carried out in the Dong-gu market area in Hyomok-dong, Dong-gu, around Gyeongil Middle School in Wondae-dong, Seo-gu, and Chimsan Park area in Chimsan-dong, Buk-gu, Daegu.

Starting from this month, the project will start phased process of land purchase, planning and construction. The project will be funded with KRW 68.8 billion from the government by 2021 with additional investment from the local government, public corporations and private sector.

In the Dong-gu Market Place area, an innovation base and a public rental shopping arcade will be created. In the area near Gyeongil Middle School, while focusing on improving environment of the old residential area, the project will build a public parking lot, improve the alleys and expand infrastructure.

tjdan@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (August 3, 2018)