Byeon Changheum "Active Proposals for 2·4 Plan Candidate Sites... Announcement Possible Soon"

Ministry of Land, LH, SH Hold Policy Meeting on the Day
Actively Cooperate in 2·4 Measures Process Including Site Selection

Minister Byeon Chang-heum of the Ministry of Land, Infrastructure and Transport is speaking at a policy meeting held on the 26th with LH and related organizations to discuss follow-up measures for the February 4 housing supply plan. (Photo by Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] On the 26th, Byeon Changheum, Minister of Land, Infrastructure and Transport, said regarding the February 4 housing supply plan, "Currently, proposals for candidate sites are actively being made through various entities such as local governments and construction companies," and added, "It seems possible to announce the candidate sites soon."

On the same day, the Ministry of Land, Infrastructure and Transport held a policy meeting to discuss follow-up measures for the February 4 plan with related organizations including Korea Land and Housing Corporation (LH), Seoul Housing and Communities Corporation (SH), Gyeonggi Housing and Communities Corporation (GH), Korea Real Estate Board, Korea Housing Association, Korea Housing Builders Association, Korea Real Estate Development Association, and Korea Urban Renewal Association.

At the meeting held at the National Land Development Exhibition Hall, the participating organizations discussed the establishment of a public-private cooperation system and the progress status of each organization related to the February 4 plan, and agreed to actively cooperate in promptly finalizing the project candidate sites.

Minister Byeon said in his opening remarks, "It is still somewhat early to evaluate the effects of the plan," but added, "through various indicators, the previously overheated buying trend is generally shifting to a wait-and-see stance."

He continued, "Following the announcement of about 100,000 new public housing candidate sites including Gwangmyeong and Siheung on the 24th, it is expected that as the follow-up measures of this plan are concretized, the calming of buying sentiment and price stabilization effects will become more pronounced," and emphasized, "for this plan to succeed, it is necessary to establish a close cooperation system between the government and the private sector."

First, the government decided to establish a new institutional foundation so that good sites within urban areas, which have not been utilized due to various interests and regulations, can be effectively used. To secure sites quickly, the system will be improved by relaxing consent requirements, and measures such as permit support and interest coordination will also be prepared.

Participating private organizations such as the Housing Association also agreed to participate in urban public housing complex projects and small-scale maintenance projects either independently or jointly with the public sector, and to actively participate in public direct implementation projects by taking charge of design and construction.

Housing supply organizations requested the government to guarantee succession of existing contracts and compensation for sunk costs in public direct implementation projects, and to establish resident representative organizations so that residents' opinions can be actively reflected.

They also proposed enhancing the effectiveness of integrated reviews and establishing a public-private cooperation system for the prompt promotion of projects. In response, the Ministry of Land, Infrastructure and Transport replied that it would promptly hold customized briefings for each organization considering the suggestions.

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