SEJONG, Dec. 15 (Korea Bizwire) – The government has announced plans for nationwide New Deal projects that will see 68 attractions across the country revitalized, including the city of Tongyeong.
According to plans revealed by the government on Thursday, a number of old local landmarks and cultural assets in South Korea will take center stage to boost tourism, and programs linked with youth employment will run alongside to maximize their economic impact.
“Though the locations of the demonstration projects have been announced, some amendments and improvements might be made before detailed execution plans are crafted,” an official from the Ministry of Land, Infrastructure and Transport said.
Tongyeong is among the cities to be revamped under the new urban renewal project.
Among the 68 places that are part of the New Deal project, the port city located on the southern coast will be the biggest beneficiary of the government’s initiative, with an investment of 1.14 trillion won.
The project is part of the government’s bid to create a new downtown area that is rich in culture, tourism, and ready to welcome the marine industry.
A number of facilities are scheduled to be built, including a cruise terminal, a marine job center, an exhibition hall for marine technology, and a research and development center that specializes in supporting business and convergence technology.
A new maritime park and Ocean Art Platform, a venue built on an old shipyard, are set to be built as the main attractions to boost tourism, a move built upon the city’s long-lived reputation as a port of significance.
According to the proposal for the urban project, up to 500 billion won in construction opportunities will be generated, with 28 billion won in potential profits up for grabs, as well as up to 12,000 new jobs.
Following the announcement, some have drawn comparisons between the South Korean port city and Malmö, a Swedish city, as the latter successfully built a reputation as a sustainable, environmentally friendly city despite being hit hard by the decline of the shipbuilding industry in the 1990s.
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