Minister of Land, Infrastructure and Transport "Starts construction of 31,000 private homes in Seoul within this year... Negotiated floor area ratio of 1.2 times" (Comprehensive 2nd report)

“We will review” the proposal to ease regulations on transfer of union member status… “Additional housing sites will be announced once the Seoul Metropolitan Government agrees.”

Hong "Increasing the private floor area ratio by 1.2 times, waiting for Seoul City's response" vs. Seoul City "Measures that have already been proposed to continue"

'New residential site' Gimpo Ara due to concerns over transportation difficulties... “Support for completion of Line 5 extension before occupancy”

(Sejong, Seoul = Yonhap News) Reporter Oh Jin-song and Kim Dong-gyu = Minister of Land, Infrastructure and Transport Hong Ji-seon said on the 30th, "We plan to start construction of 31,000 homes in Seoul by the end of the year through a private redevelopment project including Sanggye District 2." He added, "The government will closely inspect the progress of the project and thoroughly manage it so that the redevelopment project can proceed without a hitch."

On this day, Minister Hong visited the Sanggye District 2 redevelopment project site in Nowon-gu, Seoul, inspected the project progress and held a meeting with residents, local governments, related organizations, and construction company officials.

Minister Hong emphasized the smooth implementation of the improvement project in the metropolitan area, including Seoul, saying, “Housing supply cannot be limited to plans and permits, but must lead to actual construction and completion so that the public can feel it.”

Sanggye District 2 is a project to redevelop approximately 100,000 m2 of Sanggye-dong, Nowon-gu, Seoul to supply a total of 2,200 households, including 426 rental houses.

Minister Hong said that Sanggye District 2 is a business site that can benefit from an acquisition tax reduction if construction begins quickly in accordance with the August 13 housing rapid supply plan, and that he will hasten follow-up measures such as revising related laws.

It is reported that at the meeting on this day, suggestions were made on easing regulations on loans for moving expenses, restrictions on transferring union member status, and disputes over construction costs.

Minister Hong met with reporters after the meeting and said, "As relocation will begin next year, the union requested relaxation of regulations related to relocation loan and support for Housing and Urban Guarantee Corporation (HUG) guarantees, etc. We will actively discuss so that relocation cost loan consultation can take place even before management disposition is approved."

Regarding restrictions on transferring union membership status, he said, “There are exceptions to the current law, but it is difficult to apply to all regions,” and “We decided to take some time to review it a little more.”

Regarding the plan to supply new residential land in the metropolitan area, which was announced the day before with the Seoul area excluded, he said, "If negotiations with the Seoul Metropolitan Government go well, (announcement of additional residential land in Seoul) is possible."

Regarding the plan to increase the floor area ratio for private redevelopment projects to 1.2 times, Minister of Land, Infrastructure and Transport Hong Ji-seon said, "We are in working-level discussions with the Seoul Metropolitan Government and are waiting for a response."

Regarding the Yongsan Park site, he said, "We proposed to put aside issues that require public discussion and legislation and cooperate with issues that can be solved immediately, such as the Urban Maintenance Act."

In relation to this, the Seoul Metropolitan Government emphasized, "Increasing the floor area ratio for the redevelopment project is a measure that the Seoul Metropolitan Government has continuously suggested," and added, "As the Seoul Metropolitan Government's position has already been communicated, the government should proceed quickly rather than waiting for additional answers."

The Seoul Metropolitan Government also said, "We have consistently stated the principle that the Yongsan Park site cannot be used as a housing supply site," and added, "As we have proposed alternatives to the government, such as supplying up to 13,000 units at the former site of the Tancheon Water Reclamation Center, we must speed up the expansion of housing supply through active review."

Minister Hong announced that he would quickly push forward with the Seoul Subway Line 5 extension project in response to concerns about traffic difficulties in the Gimpo Ara district, which was announced as a new housing site the previous day.

Minister Hong said, "The biggest concern in Gimpo City is the transportation problem. We are preparing a basic plan for the Line 5 extension project, and we will complete the basic plan quickly and allow construction to begin."

He continued, “We will also consider installing additional stations and provide support so that the Line 5 extension project can be completed before new housing sites are occupied.”

While explaining that the GTX-D route in the metropolitan area has not yet been confirmed, he added that he will actively support the metropolitan express railway project in the western region and strive to expand the road network connecting Seoul and secure self-sufficient facilities in the Gimpo region.

The government is supporting the start of construction for 72,000 households in the metropolitan area through a private maintenance project this year.

Minister Hong said, "We will continuously inspect private maintenance project sites and actively support so that the improvement of residential environment and urban housing supply that residents have been waiting for for a long time can lead to actual results."