'Due to COVID-19 Impact' Hannam 3, Banpo 15, Gaepo Jugong 1 Consecutive General Meeting Postponements

[Asia Economy Reporter Lim On-yu] Due to the impact of the novel coronavirus infection (COVID-19), major urban redevelopment sites in Seoul have consecutively postponed their union general meetings in accordance with government policies.

On the 25th, according to the urban redevelopment industry, the Hannam 3 District Redevelopment Union in Yongsan-gu, Seoul, recently informed the Yongsan District Office of its plan to hold the union general meeting for selecting a construction company about a month later than scheduled, on May 31.

The Ministry of Land, Infrastructure and Transport announced an unavoidable three-month extension of the application of the private land price ceiling system to redevelopment, reconstruction unions, and housing unions to prevent the spread of COVID-19. In addition, the Seoul Metropolitan Government issued official letters to each autonomous district restricting and prohibiting union general meetings before May 18.

The Hannam 3 District Redevelopment Union originally planned to hold the construction company selection meeting on the 26th of next month, but with the meeting postponed by more than a month, an increase in project costs has become inevitable.

Furthermore, the Sinbanpo 15th Reconstruction Union in Banpo-dong, Seocho-gu, Seoul, which was scheduled to hold a construction company selection meeting on the 1st of next month, has also canceled its plans for the time being.

The Gaepo Jugong 1 Complex Union in Gangnam-gu, Seoul, despite concerns over the spread of COVID-19 and a tight sales schedule, initially intended to hold an outdoor union general meeting on the 30th but ultimately abandoned these plans. It is reported that the Gaepo Jugong 1 Complex Union is negotiating to hold the meeting after April 5.

Despite the Ministry of Land, Infrastructure and Transport’s announcement to postpone the application of the private land price ceiling system, redevelopment unions such as Susaek 6 District and Susaek 7 District in Susaek-dong, Eunpyeong-gu, and Jeungsan 2 District in Jeungsan-dong, which had planned to hold union general meetings as scheduled, also postponed their meetings to after May 18 in accordance with government policy.

This content was produced with the assistance of AI translation services.