South Korea to ease regulations on bus terminal facilities to boost revenue

By Kim Dong-young Posted : December 5, 2024, 17:11 Updated : December 5, 2024, 17:11
Gwangju's bus terminal/ Yonhap
 
SEOUL, December 5 (AJP) - South Korea's Ministry of Land, Infrastructure and Transport announced plans, Thursday, to allow logistics warehouses, large retail stores, and indoor sports facilities to operate within urban planning facilities including bus terminals, in a bid to address financial challenges faced by regional transportation hubs.

The regulatory reform will expand the number of urban planning facilities eligible for commercial development from 23 to 40 types, excluding six facilities such as squares, green spaces, and rivers.

Under the new guidelines, all urban planning facilities will be permitted to house neighborhood living facilities including convenience stores and medical clinics.

Distribution centers, warehouses, and data centers can also be established following urban planning committee reviews.

South Korean e-commerce company Market Kurly and other early delivery services are expected to utilize bus terminals nationwide as distribution hubs, potentially reducing operational costs while helping terminals generate additional revenue streams.

"Through this deregulation, we can enhance facility utilization by installing delivery centers and warehouses in urban bus terminals, or establishing elderly care facilities and data centers within universities," said Jung Woo-jin, head of urban policy at the ministry.

He added that the changes are expected to contribute to improved operational conditions and regional economic vitalization.

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