Seoul City Converts Abandoned Empty Houses into Parking Lots

[Asia Economy Reporter Onyu Lim] The Seoul Metropolitan Government announced on the 14th that it will carry out a project to renovate long-abandoned vacant houses and convert them into living infrastructure such as parking lots or parks.

The project targets vacant house owners who want to renovate or utilize their vacant houses but do not wish to sell them. If the owner is willing to provide the land where the vacant house is located for a certain period, the city and district office will support demolition and facility construction costs while the ownership remains unchanged. If the compensation the owner should receive upon demolition is greater than the demolition cost, the owner can receive the amount exceeding the demolition cost. Owners who wish to participate can apply to the vacant house department of their district office.

This project is part of the 'Vacant House Utilization Urban Regeneration Project' that Seoul has been implementing since 2018. So far, the city has purchased 295 vacant houses, and among them, 102 vacant houses are being utilized to create youth housing and other facilities. Ryu Hun, Director of Seoul City Urban Regeneration Office, explained, "This project not only renovates long-neglected vacant houses but also provides essential infrastructure needed in the community."

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