Downtown Seoul suffered a deep social and economic decline. In the 1970s, the Chungchun stream that crossed the South Korean capital was covered by a highway, until at the beginning of the millennium, the then mayor, Lee Myung-bak, promised to restore the stream. He decided to eliminate lanes for vehicles to convert them into a park and a living and staying space for humans, and announced a plan to restore the city center and its dying industry and commerce.
To meet transportation needs, the bus network was redesigned, parking fees were raised significantly, and it was strictly enforced, and a lot of emphasis was placed on conservation. Alongside the program’s management headquarters, there was also an expert committee and a public council. The project included the demolition of a road, treatment of the public space, restoration of the stream and drainage solutions and preservation of a public area of about 16 dunams. The budget for the program, which was carried out within two years and completed in 2005, was 323 million dollars.
After the restoration of the river, the number of private car trips in the city center decreased, and the land values in the area increased by about 25-50%. According to the World Bank, the cost of the project could be recovered within 10-20 years with various taxation tools, but the law in the country did not allow them at that time.
Because of fear of a possible political cost, the mayor demanded a quick execution of the project. About two years after its completion, he was elected to the position of president of South Korea.