Kim Daegwon, People Power Party Suseong District Mayoral Candidate, Pledges Premium Hotel and Mixed-Use Shopping Mall for 100,000㎡ Suseong Lake Area

Kim Daegwon, candidate for mayor of Suseong District, Daegu, from the People Power Party, announced on June 1 his pledge for the "Arte Suseong Land Urban Development Project," which aims to transform the Suseong Lake area into a world-class tourist destination.

Kim's campaign stated, "Given the current reality in which local government finances are dependent on budget allocations controlled by the Democratic Party-led National Assembly, we have adopted a land replotting development method led by the private sector to minimize reliance on public funds." They added, "By organically linking existing assets such as the waterside performance venue and Suseong Bridge around Suseong Lake—including performance, arts, commercial, and historical resources—we will develop Suseong Lake into Daegu's central cultural and tourism hub."

Daegwon Kim, Candidate for Mayor of Suseong District, Daegu, People Power Party

The project pledged by Kim targets a total area of 103,059 square meters around Suseong Lake, to be promoted through an urban redevelopment land replotting method.

The land replotting method returns a designated portion of developed land to original private landowners after the project, allowing for the acquisition of standardized land parcels while reducing the use of public funds for project implementation. Land returned to owners and reserved land will be publicly offered and sold as mixed-use sites for commercial and lodging facilities, with the resulting development profits reinvested in expanding infrastructure such as roads, parks, and parking lots, thereby creating a virtuous cycle.

The core of this project is to establish a waterfront-friendly cultural complex that includes a premium hotel and a mixed-use shopping mall in the Suseong Lake area. A new entrance to Suseong Lake and a multi-level plaza connecting the waterside performance venue and Suseong Bridge will also be constructed.

Additionally, the current public parking lot site (9,661 square meters) will be redeveloped through the urban development project method to create a new two-story public parking facility with 483 spaces, alongside a multi-level plaza.

This content was produced with the assistance of AI translation services.