The creation of 'balanced living and working cities' aimed at improving residential conditions for companies investing in regional areas is set to begin in earnest.
Minister of Land, Infrastructure and Transport Kim Yoon-deok announced this initiative during the 'Three Mega Projects for Korea's Great Leap' national report meeting held at the Blue House on June 29.
At the meeting, Minister Kim noted, "While industrial complexes were efficient for production in the past, living conditions were very poor." He emphasized the need to develop spaces where businesses, universities, research institutions, and cultural amenities coexist, citing successful examples from Silicon Valley in the U.S., One-North in Singapore, and Shenzhen in China.
He stated, "We will create smart cities in the locations and ways that companies desire, diverging from traditional industrial hub strategies," adding that housing tailored to corporate needs and appealing to young people will be provided. He also stressed the importance of developing balanced cities that integrate residential, educational, healthcare, cultural, and recreational facilities.
Improving access to transportation and logistics infrastructure was highlighted as a key objective. Minister Kim set a goal of ensuring commuting and living areas are within 30 minutes and logistics access within one hour, stating, "We will support a national transportation network, public transit, and advanced logistics systems as a package."
To accelerate project timelines, he announced plans to streamline administrative procedures. Minister Kim reiterated that "the success of corporate investment hinges on timing," and pledged to significantly shorten development periods through a fast-track system that allows for simultaneous planning, compensation, and design.
During the announcement, measures to break the cycle of local talent outflow and corporate reluctance to invest in regional areas were also presented. Minister Kim proposed the 'Campus Innovation Park' initiative, which aims to create job hubs by utilizing university land to secure research and startup spaces in key urban locations. This plan envisions a self-sustaining ecosystem closely linked with advanced industrial complexes and existing research institutions.
* This article has been translated by AI.
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