[Report] "Strong Opposition" vs "As Long as Development Happens"... Mixed Reactions to 2nd Public Complex Development Candidate Sites

Miadong Shop Owners "Living on Monthly Rent, No Prior Notice, Feeling Frustrated"
Songjung-dong Responds Amid Development Hopes: "Adequate Compensation Comes First"

A view of the residential area near Mia Station in Gangbuk-gu, Seoul, selected as the second candidate site for the government's urban public housing complex development project on the 14th.
Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Ryu Tae-min] "Since this morning, calls from residents have not stopped. There has never been any talk of development in this neighborhood, so the sudden announcement has created a confused atmosphere." (Representative of Mia-dong A Real Estate Agency, Seoul)

On the afternoon of the 14th, when the government announced the second round of candidate sites for the Urban Public Housing Complex Development Project (Public Complex Development), the real estate agency near Mia Station in Gangbuk-gu, Seoul, selected as a candidate site, was busy handling a flood of phone calls. This area is a station area adjacent to a subway station, so residents reacted with surprise to the government's sudden public development announcement.

When visiting Mia-dong A Real Estate Agency that afternoon, residents gathered and expressed dissatisfaction with the announcement. Resident Lee said, "It's absurd to say they will take away our homes for public development without asking or giving any prior notice."

In particular, due to the dense concentration of commercial buildings and multi-family houses, strong opposition is expected, raising concerns that public complex development will not be easy. A representative from B Real Estate Agency in the area said, "It is not easy to persuade homeowners who are already earning sufficient rental income," adding, "Recently, many newly built villas have been constructed, so the number of residents strongly opposing is expected to increase." Kim (72), who owns a residential-commercial complex nearby, showed a firm stance, saying, "People like us who make a living from monthly rent income are absolutely opposed. Even if they compensate tenfold, I have no intention of agreeing." In fact, more than half of the buildings in the candidate development site near Mia Station visited that day were commercial buildings and multi-family houses.

Some Areas Welcome Redevelopment... “Need to Hear Compensation Conditions...” Cautious Attitudes Also Present

On the other hand, some areas welcomed the government's announcement of candidate sites. Especially in areas where redevelopment had repeatedly failed before, there was a strong voice welcoming the selection as a candidate site. A representative from C Real Estate Agency in Songjung-dong, Gangbuk-gu, Seoul, where low-rise residential areas are concentrated, said, "Regardless of whether it is public or private, residents welcome the fact that the area has been selected as a development candidate site," adding, "Many people here have been waiting for redevelopment to be promoted again after it was canceled 10 years ago." He explained that when redevelopment was previously promoted, apartments were not very popular, but now that prices have skyrocketed, more residents want redevelopment.

However, many residents showed cautious reactions. Resident D said, "There are many dilapidated buildings in the neighborhood, so redevelopment is necessary," but added, "However, since compensation and other project conditions have not yet been disclosed, it is too early to decide whether to support it." Another resident, E, said, "If it proceeds as public redevelopment, there are issues such as cash settlement, and with Mayor Oh Se-hoon’s election, residents seem to have expectations for private redevelopment," adding, "Sufficient compensation measures that can convince homeowners must be presented for the project to proceed."

The Urban Public Housing Complex Project can designate a preliminary zone if more than 10% of landowners agree. If more than two-thirds of the final consent rate is secured within one year, the project is confirmed. Experts explain that resident consent is key to smooth project progress.

Yang Ji-young, head of Yang Ji-young R&C Research Institute, advised, "Providing sufficient compensation measures through resident briefings is necessary to secure consent for project initiation," adding, "To increase willingness to participate, it is necessary to ease concerns about cash settlements and public-led aspects that residents feel burdened by."

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