Gyeonggi to enter into MOU to build new town
New town construction kicks off

Gyeonggi on February 12, at the international conference room of the provincial government office, entered into MOU to promote a successful new town construction. The provincial governor, proxy of president of Korea National Housing Corporation, president of Korea Land Corporation, and president Kwon, Jae-wook of Gyeonggi Innovation Corporation and other representatives has attended this special event.

Upon this agreement, Gyeonggi will execute administrational process of this new town construction and the Korea National Housing Corporation, Korea Land Corporation, and Gyeonggi Innovation Corporation will provide various ideas and opinions to achieve effective management of the whole process.

Long-term established know-hows and ideas of the corporations expert in new town construction will be shared to bring out the business successfully.

To minimize inconveniences of the residents and to revert transferred residents back to the original spot, temporary housing plans using national leased apartments and etc. will be carried out during the new town construction.

Last year on November 17, Gyeonggi listed 8 regions of residential site including Anyang, Bucheon, Goyang and etc. and 2 other central sites of Bucheon and Gunpo as new towns. In March, 2 districts of Bucheon will be named as a promotional district and the overall plan of the new town construction will be finalized by December. Also, the town improvement plan will be made in December 2008 and will be confirmed on June 2009, which will also be implemented upon the Identified Cost Method.