Gyeonggi to Allocate KRW 365.1 billion by 2027 to Secure 13,864 Parking Spaces

Createdd 2023-01-10 Hit 17

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Gyeonggi Province will allocate KRW 365.1 billion by 2027 to secure 13,864 parking spaces while also supporting the establishment of a smart parking information system that collates and provides parking information.

On January 10, Gyeonggi Province announced that it had established the ‘Five-Year Support Plan for the Gyeonggi Province Parking Environment Improvement Project (2023-2027),’ and that it would focus on carrying out the key tasks of the plan to provide a pleasant and safe parking environment to Gyeonggi residents.

There are four key tasks included in the plan: creating 10,134 public parking spaces in densely populated residential and commercial areas; creating 1,300 parking spaces in the back alleys of residential areas; opening 2,430 free-of-charge spaces in parking lot annexes; and establishing a smart parking information system.

When the key tasks are completed, the number of areas in Gyeonggi Province suffering from severe parking difficulties, those with a parking supply–and-demand rate of less than 100% (less than one parking space per vehicle), will decrease by 18% from 215 places areas in 2021 to 176 areas in 2027.

Looking at details of the key tasks, support for creating public parking lots will see the establishment of large public parking lots in densely populated urban, commercial and residential areas. This entails the allocation of KRW 356.7 billion (provincial funding of KRW 143.1 billion, municipal funding of KRW 213.6 billion) to secure 133 parking lots and 10,134 parking spaces.

Support for creating small parking lots will secure idle land such as old housing lots for use as parking spaces. To create 1,300 parking spaces in 50 locations, KRW 5.4 billion (100% provincial funding) will be allocated.

Support to open free parking lots will cover necessary costs for installing parking lots or improving facilities when a parking lot annex is opened for free use by local residents. By allocating KRW 3 billion (50% provincial funding and 50% municipal funding), 2,430 parking spaces in 30 locations will be made available free of charge.

Finally, support to establish a smart parking information system will provide real-time parking vacancy information from the Ministry of Land, Infrastructure and Transport and the Gyeonggi Transport Information Center’s Smart Parking Information System to private applications, thereby promoting information and communication technology-based public services.

The targeted areas for the parking lot security project will be determined in the first half of the year after receiving requests from cities and counties for each business year. The smart parking information system is slated for integration and management via the smart parking information system of the Gyeonggi Provincial Traffic Information Center after consultations with cities and counties this year.

Park Seung-sam, Director of Gyeonggi Province’s Transportation Bureau, said, “We are continuously working to resolve parking difficulties, and as we are seeing a significant effect in this regard through the project, we plan to continue its implementation for areas facing parking problems.”