Seoul's Plan to Supply 40,000 Housing Units on Track... Recruiting 5,000 Residents Next Year

(Photo by Yonhap News)

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government announced on the 16th that among the '300,000 Housing Supply Plan for the Seoul Metropolitan Area,' 40,000 units (63 sites) supplied in downtown Seoul are progressing smoothly through procedures such as project approval and groundbreaking.

By implementing agency, Korea Land and Housing Corporation (LH) will supply 7,000 units, Seoul City and Seoul Housing & Communities Corporation (SH) will supply 32,000 units, and Korail and others will supply 1,000 units.

By type, ▲ utilization of national and public land at 34 sites (19,000 units) ▲ utilization of military idle land at 7 sites (4,500 units) ▲ public facility complex development at 9 sites (6,600 units) ▲ other types such as private projects and public contributions at 13 sites (10,000 units) are underway.

So far, project approval (district designation) for more than 4,000 units has been completed, and by the end of this year, project approval (district designation) for 16,000 units will be completed, with plans to start construction for 20,000 units by next year and more than 35,000 units by 2022.

Resident recruitment will expand to 5,000 units next year and 7,000 units in 2022.

Among projects utilizing national and public land, Dongjak Parking Park (500 units) and Seongdong Detention Center (1,300 units) are scheduled to receive project approval within this year and begin construction next year.

4,000 units including Geumcheon-gu Office Station (250 units) and Magok Research and Development (R&D) Center (227 units) are expected to receive project approval this year, with 9,000 units to begin construction by next year.

Among sites utilizing military idle land, Daebang Apartments (280 units) and Gongneung Apartments (280 units) have completed delegated development approval, and after project approval in the second half of this year, construction will begin in the first half of next year.

The Gangseo Apartments (499 units) and Bongcheon-dong Military Quarters (250 units) projects, which involve directly purchasing military quarters to build public housing, have completed sales contract negotiations with the Ministry of National Defense, and after project approval, construction is expected to begin as early as the end of this year.

Public facility complex development projects such as Yeonhui-dong Public Housing (154 units) and Jeungsan-dong Public Housing (166 units) have completed project approval and are scheduled to begin construction in the second half of the year.

The Jangji Bus Garage Complex project will modernize the existing Songpa-gu public bus garage and create public housing (840 units), parks, libraries, sports facilities, and other amenities for local residents, with construction starting next year.

The Ministry of Land, Infrastructure and Transport and Seoul Metropolitan Government will regularly inspect project progress and operate a dedicated housing supply task force (TF) to ensure that the 40,000 units in downtown Seoul proceed without delay.

Additionally, the two agencies plan to strengthen cooperation to smoothly advance plans to supply 15,000 new units in Seoul, including the Yongsan Maintenance Depot, through the 5th and 6th supply measures.

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