Dongja-dong Jjokbangchon Designated as Public Housing District... What About Compensation?

[Anchor]

The project to develop the impoverished Dongja-dong Jjokbangchon (slum area) near Seoul Station into public housing is moving forward in earnest, 5 years and 8 months after its initial announcement. As the project has been delayed due to opposition from landowners, how the government resolves land compensation negotiations will be a key factor moving forward.

Reporter Baegun has the story.

[Reporter]

Amidst the forest of high-rises in front of Seoul Station, old buildings stand densely packed together.

This is the Dongja-dong Jjokbangchon, where tiny rooms measuring just one or two pyeong are densely clustered.

Tomorrow (October 21), the government will officially designate and announce approximately 47,000 square meters of this area—nearly equivalent to the size of seven soccer fields—as a public housing district.

The government plans to supply a total of 2,150 housing units in the Jjokbangchon area, including 1,000 public rental housing units and 1,150 for-sale housing units.

The goal is to begin construction in 2029 and complete move-ins by 2032. Public rental housing equipped with private restrooms and cooking facilities will be provided to Jjokbangchon residents on a priority basis.

[Oh Gye-soon / Dongja-dong Jjokbangchon Resident, Seoul: Living there (in rental housing) would be a bit more comfortable than living in a place like this. Dying in an apartment would be nice.]

The public development in Dongja-dong was first announced in February 2021, but the project has been delayed as some landowners and property owners protested, opposing the forced expropriation and demanding private development.

Meanwhile, residents, who have alternated between anticipation and disappointment, are generally welcoming the move.

[Jung Dae-chul / Dongja-dong Jjokbangchon Resident, Seoul: I wanted to live in a proper home at least once, but as it kept getting delayed, more than 170 people have passed away.]

The government has also introduced supplementary measures to appease property owners, such as allowing private construction companies to participate jointly in the project and lowering the capital gains tax burden when owners sell the pre-sale rights received as compensation.

However, owners argue that they have suffered losses as their land prices were suppressed compared to surrounding areas due to the presence of the Jjokbangchon, and that realistic compensation must come first.

[Baek Ki-seung / Senior Advisor, Seoul Station Dongja-dong Residents Countermeasure Committee: Because (Dongja-dong) is densely populated with vulnerable people in poor housing conditions, it was relatively undervalued compared to other areas. Shouldn't there be fair compensation and recognition?]

Having cleared its first hurdle in about 5 years and 8 months, the government now needs a careful approach to minimize conflicts during the compensation and relocation process.

(Video Editing: Park Choon-bae, Design: Byun Da-young, Lee Ga-jin, VJ: Lee Ji-hwan)
※ Please note: This article was translated by AI and may contain errors.