"8000 Households Possible on SH Corporation Sites in Sinnae, Oryu, Jinkwan, and More"

SH Corporation Union Proposes to Ruling Party and Government... "Strength in Rapid Supply of Sites within Seoul City"

Archive photo / Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Kim Yuri] Employees of Seoul Housing and Communities Corporation (SH Corporation) have proposed to the ruling party and government to supply housing on land owned by SH Corporation.

According to industry sources on the 28th, the SH Corporation labor union sent a petition containing this proposal to Lee Hae-chan, leader of the Democratic Party of Korea, Kim Tae-nyeon, floor leader, Kim Sang-jo, Chief Presidential Secretary for Policy, and Kim Hyun-mi, Minister of Land, Infrastructure and Transport, the day before.

The land owned by SH Corporation in Seoul includes 19 parcels totaling 122,671㎡ in areas such as Sinnae-dong, Jungnang-gu (school site), Oryu-dong, Guro-gu (school site), Jingwan-dong, Eunpyeong-gu (school site), and Sinwon-dong, Seocho-gu (sports facilities). It is explained that approximately 5,000 households can be supplied based on a 49㎡ (exclusive area) and a floor area ratio of 300%. Applying a floor area ratio of 500% could allow up to 8,000 households.

In particular, among these, the Sinnae-dong site is being considered as the relocation site for SH Corporation. However, considering the site area, the number of households that can be supplied, and the required time, this method is said to be more efficient than reusing the current headquarters after SH Corporation relocates.

Lee Woo-yong, the labor union chairman, said, "The government is promoting rapid additional supply to stabilize the real estate market, but the sites currently being sought for additional supply inevitably take a long time," adding, "(Many of the sites owned by SH Corporation) already have infrastructure such as electricity, gas, and transportation, so after changing the land use, construction can start immediately, and move-in is possible in about two and a half years," he said. Looking only at the Sinnae-dong site, which is about 13,000㎡ in size, he estimated that 800 to 1,000 households could be built based on small-sale and rental standards. It was also explained that residential complex infrastructure such as Yangwon District and Sinnae 2 District can be shared.

Meanwhile, the government is preparing to announce plans to expand housing supply in Seoul and the metropolitan area, including high-density development in urban areas, public redevelopment and reconstruction, new sites such as idle land, and increasing the floor area ratio for the 3rd New Town. The government is also reviewing sales methods such as 'equity accumulation type' to prevent public sales from turning into a 'lottery.'

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