Compensation for Gwangmyeong Hag-on Public Housing District to Begin Within the Year

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Compensation for losses in the Gwangmyeong Hak-on Public Housing District in Gyeonggi Province is expected to begin as early as the end of this year.

The Gyeonggi Housing and Urban Corporation (GH) announced on the 3rd that it will publicize the compensation plan for land and other assets in the Gwangmyeong Hak-on Public Housing District and proceed with the inspection of records.

Accordingly, owners and related parties can inspect the land and item records by bringing identification cards until the 17th of this month. If there are any objections, a written objection form can be submitted.

GH completed a basic survey of land, buildings, and businesses included in the project district by the 31st of last month. This will be used as basic data for appraisal to calculate future compensation amounts.

Starting with this announcement of the compensation plan, various procedures will be carried out sequentially, including appraisal in October and loss compensation negotiations in December.

Lee Byung-woo, head of GH's Urban Development Headquarters, stated, "We will do our best to carry out smooth compensation work with an attitude of communicating with residents so that there are no setbacks in the project schedule."

The Gwangmyeong Hak-on Public Housing District will have 5,007 housing units on approximately 680,000㎡ of land in the Gahak-dong area of Gwangmyeong City. It is planned as a residential complex for employees of the Gwangmyeong Siheung Technovalley and for the resettlement of original residents, with the goal of district plan approval by the end of 2021.

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