A project to rebuild the area around the Mapo Agricultural and Fishery Products Market into a mixed-use complex, including a park and cultural facilities, will move forward as a private investment project. The Ministry of Planning and Budget said on the 17th that the Private Investment Project Deliberation Committee reviewed and approved the appropriateness of the facilities subject to private investment for the Mapo Agricultural and Fishery Products Market complex project.
The Mapo Agricultural and Fishery Products Market complex development project is part of Seoul City's push to make the northwestern part of Seoul a tourist attraction. The total project cost is 615.1 billion won. After Seoul City first discloses the project site, it will proceed as a site-solicitation-type private investment project in which the private sector submits business proposals.