Anyang City Moves Forward with Urban Development Project Around Indeokwon Station

[Suwon Ilbo=Reporter Eom In-yong] Anyang City announced on the 14th that it has signed a basic agreement for joint project implementation with Gyeonggi Housing and Urban Development Corporation (GH) and Anyang Urban Development Corporation to move forward with the urban development project around Indeokwon Station.

The agreement ceremony was attended by Anyang City Mayor Choi Dae-ho, GH Acting President Lee Jong-seon (Vice President), and Anyang Urban Development Corporation Acting President Kim Byung-geun (Head of Management Planning Division), among others.

The main purpose of the agreement is for each organization, as joint implementers of the urban development project around Indeokwon Station, to discuss efficient work performance, strengthened mutual cooperation, and participation equity stakes for the successful completion of the project.

According to the agreement, Anyang City will participate in the urban development project around Indeokwon Station with a 20% stake, Gyeonggi Housing and Urban Development Corporation with 60%, and Anyang Urban Development Corporation with 20%.

The city will be responsible for project permits and licensing as well as operating a practical cooperation body, playing a role in coordinating public-led projects. GH will conduct overall project operations including business plan establishment, compensation, and construction, while Anyang Urban Development Corporation will promote projects such as modifying the flow of Galhyeon Stream and restoring damaged areas to ensure smooth project progress.

The urban development project around Indeokwon Station is an initiative to develop approximately 150,987 square meters of land around Indeokwon Station into a creative hub where talent, businesses, and young people gather. Building on the existing Line 4 of the Seoul Metropolitan Subway, it will leverage the advantages of a "quadruple transit zone" with various rail networks including the Seoul Metropolitan Area Rapid Transit (GTX)-C line, the Wolgot-Pangyo line, and the Indeokwon-Dongtan line, aiming to develop a "10-10 Compact City" where workplaces, residences, and cultural facilities can be accessed within 10 minutes.

Anyang City Mayor Choi Dae-ho stated, "This agreement is an important starting point for sustainable urban development, and we will do our best to successfully complete the project so that everyone's expectations and efforts do not go in vain."