Incheon Urban Corporation Begins Compensation Talks for Guwol 2 Public Housing District to Supply 1,599 Households by 2030

Compensation consultations will officially begin for the Incheon Guwol 2 Public Housing District development project, which will supply a large-scale complex of approximately 1,599 households across a 2.2-square-kilometer area spanning Namdong-gu, Yeonsu-gu, and Michuhol-gu in Incheon.

The Incheon Urban Corporation explained that it has brought forward the timeline for initiating compensation as much as possible to align with the government's policy aiming to break ground on 1.35 million homes in the Seoul metropolitan area by 2030.

Having announced land compensation plans late last year and conducted appraisals in the first half of this year, the Incheon Urban Corporation has held about 20 rounds of consultations with roughly 10 resident countermeasure committees within the project district.

An official from the Incheon Urban Corporation stated, "The Incheon Guwol 2 Public Housing District is a project that will drive housing stability and balanced development in Incheon," adding, "We will do our utmost to ensure smooth compensation negotiations."

(Photo courtesy of Incheon Urban Corporation, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.