Gwacheon and Taereung Projects to Speed Up... "Accelerating Reconstruction and Redevelopment"

[Anchor]

The government has announced plans to further accelerate previously announced housing development sites, as well as reconstruction and redevelopment projects. Regulations will also be relaxed to allow more multi-family and row houses to be built, which account for 40% of housing in the Seoul metropolitan area.

Reporter Kim Beom-joo has more.

[Reporter]

This is the Gwacheon Racecourse, where the government announced in January that it would build 9,800 housing units.

The government stated that it will finalize the relocation site for the racecourse next month, begin moving the facilities of the adjacent Defense Security Command early next year, and break ground by the end of 2029.

For the Taereung Golf Course site, where 6,800 housing units are planned, various procedures will be advanced—such as completing the world heritage impact assessment within this year—with construction also scheduled to begin in September 2029.

Measures were also unveiled to accelerate reconstruction and redevelopment while making maximum use of leftover land everywhere.

The government announced plans to remove early-stage obstacles by lowering the resident consent requirement for establishing a redevelopment association from 75% to 70%, and by having the government directly intervene when conflicts such as construction costs arise.

[Kim Yoon-deok / Minister of Land, Infrastructure and Transport: We will accelerate the pace of redevelopment and reconstruction projects to flawlessly support the commencement of 234,000 housing units in the metropolitan area by 2030.]

For urban complex development projects that are too complex for the private sector to undertake alone, prompting public institutions like the LH to step in instead, a target has been set to supply an additional 51,000 households in Seoul by 2030.

The government stated it will build more than 1,800 housing units on the sites of relocated, vacant schools and public office buildings, while continuing to search for additional land.

Measures were also introduced to support construction companies in building more multi-family and row houses, which account for 40% of housing in Seoul.

The floor area limit per building, previously restricted to 660 square meters, will be expanded 1.5 times to 1,000 square meters, and the height limit for multi-family houses, previously restricted to three stories, will be raised by one floor to four stories.

This means more homes can be built and sold at once.

In addition, to promote housing supply, the government decided to nearly double the scale of project financing (PF) financial support to a minimum of 47.8 trillion won.

(Video Editing: Oh Young-taek, Design: Kim Han-gil)
※ Please note: This article was translated by AI and may contain errors.