Minister Noh Hyung-wook Visits 'Jeungsan 4 District'... "September Planned Area, November Official District Designation"

Candidate Site for Urban Public Housing Complex Project 'Jeungsan 4 District'
Minister Noh Hyung-wook Visits Site to Reaffirm Commitment to Project Success
"Creating the Best Residential Environment through Swift Project Implementation"

Minister of Land, Infrastructure and Transport Noh Hyung-wook is visiting Jeungsan 4 District in Eunpyeong-gu, Seoul, designated as a candidate site for the urban public housing complex project, to inspect the area on the 30th. (Photo by Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] "A long-standing project that had been stalled for nearly 10 years secured the consent of more than two-thirds of residents within just 40 days after the announcement of the pilot project candidate sites in March. This is a symbolic case proving the necessity of public development."

On the 30th, Noh Hyung-wook, Minister of Land, Infrastructure and Transport, visited Seoul Eunpyeong-gu's 'Jeungsan 4 District,' a pilot project candidate site for the 'Urban Public Housing Complex Project' under the 2·4 measures, and expressed his determination for the project's success, saying, "We will create the best residential environment through swift project promotion to meet the residents' choice and support."

Jeungsan 4 District was selected as the first pilot project candidate site on March 31 and secured more than two-thirds of resident consent, the requirement for designation as the main district, within just 40 days. This area is a densely populated old housing area with over 90% housing ratio for more than 20 years, suffering from poor residential conditions such as inconvenient traffic and lack of parking spaces. It was designated as a redevelopment promotion zone in 2012, but due to conflicts among local residents and insufficient project requirements, the redevelopment zone was canceled in 2019.

However, with its designation as a candidate site for the Urban Public Housing Complex Project this time, the project has gained momentum. The government and residents plan to create a premium apartment complex of 4,100 households through high-density complex development near the station area and specialized terrace-type low-rise complexes. A private construction company will be responsible for design and construction. The construction scale is expected to exceed 900 billion KRW.

On the same day, Minister Noh held a meeting at the 'Jeungsan 4 District 3080 Promotion Preparation Committee' office to discuss the progress and future plans of the Urban Public Housing Complex Project. The meeting was attended by Democratic Party lawmakers Park Jumin and Kim Mikyung, Mayor of Eunpyeong-gu, and Kim Hyunjun, President of Korea Land and Housing Corporation (LH).

At the meeting, Minister Noh promised ▲designation of the planned district immediately upon the law's enforcement in September and designation of the main district in November ▲provision of unprecedented urban and architectural incentives ▲transparent construction cost management and improvement of construction quality through LH. He explained, "Since the law will be enforced in early September, Jeungsan 4 District will speed up preparations to designate the planned district simultaneously with the law enforcement and, in consultation with Seoul City, aim to designate the main district around November."

Minister of Land, Infrastructure and Transport Noh Hyung-wook held a residents' meeting on the 30th at Jeungsan 4 District in Eunpyeong-gu, Seoul, designated as a candidate site for the Urban Public Housing Complex Project, to explain the project. (Photo by Ministry of Land, Infrastructure and Transport)

Minister Noh said, "Residents of Jeungsan 4 District will also want this to become a creative and premium complex," adding, "LH will plan the project, but private participation in design and construction is possible. If necessary, support will be provided for private companies through equity participation or REITs methods."

He emphasized, "However, it must not become a speculative ground, and development profits must not be privatized by developers or those with cash," adding, "We will approach flexibly while adhering to the public development principle that original residents living in the area should not suffer or be displaced."

Minister Noh urged LH to "allocate sufficient personnel and resources to ensure smooth project promotion and maintain constant communication with resident representative organizations to reflect residents' opinions."

Since the related bill passed the National Assembly plenary session the day before, the Ministry of Land, Infrastructure and Transport plans to promptly proceed with follow-up measures such as early revision of enforcement ordinances and a preliminary review committee in July to designate the planned district and form resident representative organizations immediately upon the law's enforcement in September. The Ministry explained, "We will focus on supporting the smooth progress from designation of the main district and selection of construction companies within this year to project plan approval next year and groundbreaking in 2023."

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