20,000 to 30,000 households designated each year in the 1st new city Seondo district… Total construction start within 15 years (comprehensive) < Real estate < Text of article

Expected to be 94,000 units in Bundang and 64,000 units in Ilsan… Released after mid-May

Announcement of legislation on special law for old-age planned cities

Ministry of Land, Infrastructure and Transport, Briefing on Implementation of Special Act on Old Planned Cities

(Sejong = Yonhap Infomax) Reporters Lee Hyo-ji and Yoon Young-sook = It is expected that the first new city Seondo district will be selected in the range of 20,000 to 30,000 households.

The government has set a goal of starting construction on all new city complexes within 15 years by designating up to 10% of the total maintenance volume each year.

The Ministry of Land, Infrastructure and Transport unveiled on the 25th a plan to designate a leading district, which will be the first to proceed with reconstruction in the first new city ahead of the enforcement of the Special Act on Old Planned Cities on the 27th.

Choi Byeong-gil, head of the Ministry of Land, Infrastructure and Transport’s Urban Development Planning and Preparation Division, said, “We are discussing with local governments to disclose the scale and criteria for selecting lead districts for the first new city after mid-May,” and added, “We are discussing designating them at about 5 to 10% of the maintenance volume for each new city.” “I’m in the middle of it,” he said.

Currently, the target area for the ‘Old Planned City Special Development Zone’ is 108 districts and 2.15 million households across the country.

Based on public housing inventory, 5-10% of the maintenance volume is 94,000 units in Bundang, 64,000 units in Ilsan, and 40,000 units in the remaining new cities.

An official from the Ministry of Land, Infrastructure and Transport said, “It has not been decided whether 10% will be designated for each region, but we expect it to be in the range of 20,000 to 30,000 units,” adding that it would be good if construction could all begin in 2027, but it is difficult to guarantee.

◇Even if it is not designated as a leading district, there is an opportunity every year… Gradual supply concerns

The Ministry of Land, Infrastructure and Transport explained that even if it is not designated as a leading district this time, there is the same opportunity every year.

This official said, “We plan to designate it at this year’s level every year,” and added, “We are considering ways to gradually supply it in consideration of the relocation complex and rental market.”

He continued, “We are discussing with the local government how much maintenance will be done each year. I believe that construction of all complexes will begin within 15 years. Some complexes are planning for 10 years, while others are planning for 12 to 13 years.”

In the case of relocation complexes, the Ministry of Land, Infrastructure and Transport is considering receiving a rental deposit at market rates, and plans to allow permanent lease residents to move into rented houses that have been renovated if they wish.

The Ministry of Land, Infrastructure and Transport plans to present standard standards for selecting leading districts so that local governments can use them according to their circumstances.

The consent rate is the most important, and the degree of inconvenience to residents, such as the number of parking lots per household, and the scale of integrated maintenance are also evaluated.

An official from the Ministry of Land, Infrastructure and Transport said, “We will try to evaluate things as quantitatively as possible. We will design the consent rate by creating a score distribution section and add discriminatory power by considering the disapproval rate.”

The Ministry of Land, Infrastructure and Transport also launched a special committee for aging planning and urban maintenance to enforce the special law.

The special committee is a statutory body that establishes and changes the basic policy for the maintenance of old planned cities established by the Ministry of Land, Infrastructure and Transport and reviews the basic maintenance plan established by local governments.

It is chaired by the Minister of Land, Infrastructure and Transport and consists of 30 members, including 16 private members, including Dankook University professor Kim Ho-cheol, and 13 government members.

Professor Kim Ho-cheol said, “I expect that between September and October of this year, the basic policy being established by the Ministry of Land, Infrastructure and Transport will be disclosed to local governments across the country and their opinions will be collected.”

In addition, the Ministry of Land, Infrastructure and Transport supports organizations for the maintenance of old planned cities such as Korea Land and Housing Corporation (LH), Housing and Urban Guarantee Corporation (HUG), Korea Land Information Corporation (LX), Korea Real Estate Agency, Korea Research Institute for Human Settlements, Korea Transport Institute, and Korea Legislation Research Institute. A location was designated.

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This article was published at 12:46 on the Infomax financial information terminal.