Small-Scale Housing Maintenance Projects, Parking Installation Requirements Eased... Expectation for Project Revitalization

(Data from the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] In the future, up to 50% of the mandatory parking spaces required for small-scale housing maintenance projects can be replaced with usage rights of nearby public parking lots. This is expected to reduce the burden of parking lot installation on association members and help promote the projects.

The Ministry of Land, Infrastructure and Transport announced that it will hold a legislative notice from the 30th until August 9th for a partial amendment to the Enforcement Decree of the "Special Act on Vacant Houses and Small-scale Housing Maintenance (hereinafter referred to as the Small-scale Housing Maintenance Act)" containing these details.

According to the amendment, when implementing small-scale housing maintenance projects or vacant house maintenance projects, if usage rights of public parking lots within the project implementation area are secured, or usage rights of public parking lots installed according to urban regeneration activation plans outside the project implementation area are secured, up to 50% of the mandatory parking installation spaces can be recognized.

Currently, the scope that can be replaced by public parking lot usage rights is up to 30%. With the enforcement of the amendment, this ratio will increase to 50%, which is expected to reduce the burden of parking lot installation for association members and others.

In particular, for small-scale housing maintenance projects where parking lot installation is difficult due to the limited size of the project implementation area, this amendment is expected to invigorate project promotion.

The amendment is scheduled to be enforced in October after legislative notice, consultations with related agencies, review by the Office for Government Policy Coordination, and the Cabinet meeting. The full text of the amendment can be found on the Ministry of Land, Infrastructure and Transport website. Opinions on the amendment can be submitted via mail, fax, or through the Ministry’s website.

Lee Ji-hye, Director of the Housing Regeneration Division at the Ministry of Land, Infrastructure and Transport, said, "Small-scale housing maintenance projects not only expand housing supply in urban areas but also have the effect of regenerating aging low-rise residential areas, so they need to be further activated," adding, "We will continuously identify areas where institutional improvements are needed and actively collect various related opinions."

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