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New Supply Sites "No Prior Consultation"... Land Compensation is the Key


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[Anchor]

Whenever multiple housing supply measures are announced, a lingering question is always whether the plans can actually be realized quickly as promised.

Reporter Jeon Hyeong-u visited the three newly announced areas: Namyangju and Gwangju in Gyeonggi Province, and Gangseo-gu in Seoul, to check the situation on the ground.

[Reporter]

This is the Korea University Deokso Farm site in Namyangju, the largest scale among the new housing supply candidate sites.

This area has extensive forests created for the university's ecological research, and the government plans to develop it by lifting the greenbelt.

The plan is to lift development restrictions to create a public housing district with 21,700 households. However, Korea University, which owns the site, stated that "there has been no prior consultation with the government."

This is the area around Jangji-dong, Gwangju, Gyeonggi Province, where 4,500 households are scheduled to be built.

It is an area where a station-area development project is already being promoted by the private sector.

However, the project has been sluggish for eight years.

[Landowner in Jangji-dong, Gwangju : They said they would start it back in 2018, and they have just kept dragging it out until now. They should give us a reasonable level of compensation and open a way for us to settle down here.]

Landowners are concerned that with the LH (Korea Land and Housing Corporation) creating a public housing district through this announcement, they might not receive proper compensation.

For the Yeomchang Park area in Gangseo-gu, where a plan for 1,000 households was announced, more than 90 percent is privately owned, making the speed of compensation a critical factor.

[Shin Dong-gwan / Real Estate Agent near Yeomchang Park : The problem is that the owners must agree. They will only move if they are given appropriate compensation; otherwise, they won't budge.]

Regarding the latest supply measures, the Seoul Metropolitan Government welcomed the acceptance of its proposals, such as easing redevelopment consent rates, while maintaining its stance that urban maintenance project regulations need to be relaxed further.

It also reiterated its opposition to using greenbelts, pointing out that the government announced the measures without sufficient consultation.

[Myeong No-jun / Head of Seoul's Housing Bureau : Financial and tax policies to increase supply must be relaxed even more boldly. The government should take a more proactive approach toward the tasks that have not yet been reflected.]

Although the government pulled out all the stops to maximize the scale of new supply, hurdles remain to be overcome, including the limited nature of new supply within Seoul, controversies over lifting greenbelts, and issues regarding consultations with landowners.

(Photo: Yonhap News / Reported by Kang Dong-chul and Park Hyun-chul | Video by Yu Mi-ra | VJ: Jeong Han-wook)

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