GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) The Korea Railroad Corporation (KORAIL) signed an MOU with Gwangju Metropolitan City on October 1 on Gwangju Station Area Regeneration Project and Gwangju Songjeong Station Gateway Project at the City Hall.

The signing ceremony was attended by about 20 people including Oh Young-sik, CEO and President of KORAIL and Lee Yong-seop, the Mayor of Gwangju.

The MOU includes urban regeneration and integrated development of Gwangju Station and nearby land of 500,000 ㎡, and expand the parking area of Gwangju Songjeong Station.

KORAIL will cooperate by allowing the City to use their assets for the urban regeneration project near Gwangju Station and Gwangju City will provide support in terms of moving railway services and licensing.

If Gwangju Station area is developed, spaces for startups and culture industry will be made in the Station by 2025. Complex Compact City will be built by using the railway land and it will include areas for work, businesses, leisure and shopping.

The project will also increase the parking spaces of Gwangju Songjeong Station from 401 to 1,600 by 2021.

The Station will hold cultural contents exhibitions of Gwangju.

"We will actively cooperate with the City to revitalize the regional economy and create jobs," said the CEO of KORAIL.

yej@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (October 1, 2018)