SAEMANGEUM DEVELOPMENT CORP.

“Saemangeum Smart Waterfront City” Initiates Strategic Planning for Its Transformation into an Enterprise-Supporting City

- From February 15 to 16, Saemangeum Development Corporation organized a “hackathon” meeting to discuss proposed changes to its integrated development plan thoroughly, covering development concepts and directions, foundational ideas, specialized approaches, sector-specific plans, and design strategies.

- Detailed plans have been explored to transform the city into an “enterprise-supporting city.”

□ Under the sponsorship of the Korea Planning Association, the Saemangeum Development and Investment Agency, headed by Director Kim Kyungahn, and the Saemangeum Development Corporation, with acting CEO Lee Jeonghyeon, convened a hackathon meeting on February 15 to 16 at the Ritz Plaza Hotel in Gunsan. The meeting aimed to discuss proposed revisions to the integrated development plan, centering on the theme “Saemangeum Smart Waterfront City as an Enterprise-Supporting City.”

* Hackathon: An event in the information technology (IT) sector combining “hacking” and “marathon,” where participants continuously generate ideas and use them to create apps or services within a set time frame.

ㅇIn response to the surging demand for corporate residency in Saemangeum, this hackathon meeting aims to finalize the review and discuss proposed amendments to the integrated development plan for Saemangeum Waterfront City as Saemangeum’s inaugural city, addressing the need to enhance residential conditions.

ㅇAround 60 participants, including representatives from Saemangeum Development and Investment Agency, Jeonbuk State, and Saemangeum Development Corporation, the advisory board overseeing Waterfront City development projects, and technical experts participating in the revised development plans, attended the meeting.

□ Following the inception of the current government, the Saemangeum region has evolved into a prime location for businesses, marked by the introduction of the International Investment Promotion Zone and the designation of a specialized zone for secondary batteries. There was a notable acceleration in corporate relocations and internal development, resulting in the unprecedented achievement of attracting over KRW 10 trillion in investment, the highest achievement in history. Because these enterprises are set to move in by 2026 at the earliest, the urgency to create suitable living conditions for their employees is imperative.

ㅇ In response to the evolving development conditions in the Saemangeum region, the Saemangeum Development and Investment Agency and the Saemangeum Development Corporation established a task force (TF) in 2023 to revise the Waterfront City development plan. This initiative included appointing a team of ten advisors, including Professor Kim Hyeonsu from Dankook University, to refine the new business strategies and development plans. Furthermore, starting January this year, they have been expediting the formulation of a revised integrated development plan by appointing an engineering firm.

* Professor Kim Hyeonsu, former President of the Korea Planning Association, contributed to planning new urban developments in the Seoul Metropolitan Area, including Paju Unjeong and Goyang Changneung.

□ During the seminar's first day, comprehensive discussions were held regarding foundational concepts and urban specialization strategies aligned with the revised development concept of Waterfront City as a “specialized city in supporting enterprises” and a “future city where people gather” for businesses and their employees.

ㅇ Professor Kim Hyeonsu, the chief planner, chaired the comprehensive discussion session where the parties involved in this project, including Jeonbuk State, the overseeing advisory board, and the Korea Institute for Industrial Economics & Trade, fervently deliberated on the proposed changes to the integrated development plan of Waterfront City.

ㅇ The second day was dedicated to expert consultations and discussions on creating a secure Waterfront City, focusing on stormwater management, the implementation of disaster prevention forests, and open-water systems.

□ Director Kim Kyungahn of the Saemangeum Development and Investment Agency stated, “Our goal is to create a Waterfront City that facilitates business investment, ensures residents’ satisfaction, and boasts multiple attractions.” He emphasized, “Let’s strive to build an even better Waterfront City by considering the various insights shared today.”

□ Acting CEO of Saemangeum Development Corporation, Lee Jeonghyeon, said, “The unbiased discussions regarding Waterfront City development made this hackathon meeting highly meaningful.” Lee added, “We will ly proceed with revising the integrated development plan for Waterfront City based on the opinions expressed in this meeting, striving to develop it to become Korea’s leading supportive bedroom community for businesses.

□ The chief planner, Professor Kim Hyeonsu, remarked, “It feels like we’re witnessing the results of our year-long collaboration to turn Waterfront City into a supportive bedroom community for businesses. We’re committed to doing our best to finalize the changes in the integrated development plan for Waterfront City this year.”

※ Schedule for the Hackathon Meeting