Over Two Years Just for Land Compensation... Can Speed War Be Won?

[Anchor]

Even in late 2018, when housing prices started soaring, the government announced the 3rd-generation new towns to increase housing supply in the Seoul metropolitan area, but no move-ins have taken place yet.

Because many variables must be overcome before actual supply takes place, things rarely go according to plan. Reporter Baegun went to the site to check.

[Reporter]

Gyosan District in Hanam, Gyeonggi Province, announced as a 3rd-generation new town in late 2018.

Heavy equipment stands here and there, and work is underway to organize the infrastructure.

This is the first place in the Gyosan district where the main subscription took place, with about 1,100 households scheduled to move in, but construction progress is slow.

The housing construction progress rate here remains at 0%.

At the time of the pre-subscription, the scheduled move-in date was guided as March of next year, which is currently delayed by more than two years.

[Choi Nak-hyung / Real Estate Agent in Hanam, Gyeonggi Province: (Among prospective residents) I have seen several people who bought homes elsewhere, wondering if they might fail to secure their own homes while trusting the government and waiting.]

Among other 3rd-generation new towns, none have achieved move-ins yet, and the first move-in for a 3rd-generation new town is scheduled to take place in Gyeyang, Incheon, at the end of this year.

In the field, the land compensation process is cited as the biggest cause of delay.

Hanam Gyosan took 33 months from the start of compensation to the commencement of development construction, Incheon Gyeyang took 30 months, and Namyangju Wangsuk District 2 took 22 months, averaging 23 months across six districts.

[Jang Jun-yong / Chairman of Gyosan Re-settlement Committee: (Because it was a development restriction zone) even though it is adjacent to Songpa, the land price is low. Therefore, there is a big gap between the price residents want and the appraised value provided by LH.]

Even after land compensation is completed, actual relocation is delayed, which sometimes pushes back demolition and construction together.

Experts point out that it is necessary to consider carrying out the compensation process and relocation preparations simultaneously.

[Park Won-kap / Senior Real Estate Expert at KB Kookmin Bank: Currently, relocation takes place after land compensation is completed, but relocation complexes or facilities should be prepared in advance so that relocation can take place simultaneously with compensation...]

Starting next December, even after compensation is completed, an enforcement fine of up to 10 million won can be imposed if someone refuses to hand over land or buildings and refuses to evacuate.

However, the plan to provide incentives to residents who cooperated with compensation has failed to pass the threshold of the National Assembly.

Attention is focused on whether specific measures to shorten project periods will emerge in the housing supply measures to be announced soon.

(Reported by Kim Hak-mo | Video Editing by Shin See-eun | Design by Park Hye-jin)
※ Please note: This article was translated by AI and may contain errors.