"Taereung CC and Yongsan Site" Housing Supply Shaken?… Ministry of Land, Infrastructure and Transport Assures "Will Proceed Without Delay"

"New Housing Site Project Progressing Steadily"
"Housing Supply Top Priority... Policy Efforts Deployed"

Apartments in the Gangnam area are visible from the Korea International Trade Association in Gangnam-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Moon Jiwon] In response to concerns that the major new housing site supply projects in Seoul, announced through the August 4th measures last year, are facing setbacks, the government explained that the projects are "being steadily carried out."

On the 13th, the Ministry of Land, Infrastructure and Transport stated in a press release, "Most of the new public housing site projects under the plan to expand housing supply in the Seoul metropolitan area announced last August have completed development plans and are currently in consultation with local governments and related agencies."

The government’s swift clarification is interpreted as a response to growing concerns that other new housing sites from the August 4th measures might be facing difficulties after the recent partial revision of the plan to supply housing on idle land at the Gwacheon government complex.

The Ministry emphasized, "Although some have pointed out instability in new housing site supply announced through the August 4th measures, the housing supply plans promised to the public will proceed without any setbacks."

Regarding the Taereung Golf Course site in Nowon-gu, Seoul, the Ministry explained that they are closely consulting with Seoul city and related agencies to develop a plan that can coexist with the local government, and plan to promptly begin all procedures necessary for district designation.

For the Gwacheon government complex, they emphasized that they will supply over 4,300 housing units, exceeding the original target, by providing about 3,000 units through land-use conversion for self-sufficient purposes in Gwacheon district and supplying about 1,300 units in other alternative sites.

The Yongsan Camp Kim site has already begun land purification work since April, and the Ministry explained that they plan to shorten the project period as much as possible by simultaneously conducting contamination cleanup and donation-for-transfer procedures for land acquisition.

Regarding the Public Procurement Service site, through consultations with related agencies, an alternative government office site has been confirmed (Suseo Station area project district), and necessary measures such as temporary relocation of the office before the construction of the new building are being implemented without delay to expedite the project.

They added that consultations among related agencies are in the final stages regarding development plans for small to medium-sized sites such as the Korea Land and Housing Corporation (LH) Yeouido site and the National Diplomatic Academy’s idle land.

The Ministry of Land, Infrastructure and Transport emphasized, "Under the paramount principle of prioritizing housing supply, we will devote all policy capabilities to ensure that future new housing site projects proceed steadily and without setbacks."

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