Seoul City to Start New Integrated Planning Next Year for 5 Areas Including Apgujeong 2, 3, and 5 Districts... Concurrent District Unit Establishment

Apgujeong 2, 3, 5 Districts, Sinbanpo 2nd Complex, Seocho Jinhung, and 5 Other Sites
Daechi Seonkyung, Gaepo Useong, Hyundai, Gyeongnam, Gaepo 6th and 7th Complexes to Proceed if Applied
Yeouido Sambu and Mokdong 6th Complex on Hold
From New Town Planning → District Unit Plan Establishment → Maintenance Plan Decision Process

Apgujeong Hyundai Apartment. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Hyemin] Five areas, including Apgujeong 2, 3, and 5 districts in Gangnam-gu, Seoul, will officially begin reconstruction next year through Seoul City's Rapid Integrated Planning (Shintong Planning). Considering the judgment that establishing district unit plans could stimulate housing prices, the city decided to adjust the timing so that district unit plans are determined upon completion of Shintong Planning, while concurrently establishing maintenance plans.

Seoul City explained this during a press briefing on redevelopment and reconstruction related to Shintong Planning held on the 30th.

Currently, there are a total of seven reconstruction complexes undergoing Shintong Planning, with a one-team system formed within Seoul City. The city plans to additionally initiate Shintong Planning next year for five districts that have applied, including Apgujeong 2, 3, and 5 districts in Gangnam-gu, Sinbanpo 2nd complex in Seocho-gu, and Seocho Jinhung. The districts preparing applications, such as Daechi Seon-gyeong in Gangnam-gu and Gaepo Woosung, Hyundai, Gyeongnam, and Gaepo 6 and 7 complexes, will also proceed with Shintong Planning upon application.

Regarding the demand that district unit plans must be established first, Seoul City clarified that it will proceed concurrently with Shintong Planning. Director Kim stated, "If only the urban planning plan (district unit plan) is announced without a specific maintenance plan, prices in that area suddenly rise. Through consultations, it was clearly judged that this would signal the start of reconstruction in Gangnam. Once Shintong Planning is completed, the district unit plan will also be completed, and the maintenance plan will be decided in the process." The city expects that even for large complexes, the maintenance plan can be decided within one year after the district unit plan is officially announced.

The city plans to newly designate land transaction permission zones simultaneously with the initiation of Shintong Planning for the applicable complexes.

Meanwhile, despite applications, Shintong Planning will be deferred for Seobinggo Shindonga in Yongsan-gu, Samboo in Yeouido, and Mokdong 6 complex in Yeongdeungpo-gu. Housing Policy Director Kim Seongbo said, "The city prioritized areas with supply effects, but Seobinggo Shindonga insists on one-to-one reconstruction. For Yeouido Samboo, it was judged that joint development is better, and for Mokdong 6 complex, it was deferred considering the pace of nearby complexes."

Since the maintenance plan for Eonma in Daechi-dong, Gangnam-gu, is already available, the city judged that Shintong Planning is unnecessary. Seoul City stated, "Since the maintenance plan was deferred at the Urban Planning Committee review in June 2018, discussions between residents and Seoul City have been ongoing since June this year to supplement the plan. Depending on the reappointment of the promotion committee chairman and related lawsuits, the city plans to proceed with the maintenance plan decision process in consultation with Gangnam-gu, the plan initiator."

For Jamsil 5 complex in Songpa-gu, where the maintenance plan was blocked during the review process, the city plans to promptly submit the agenda to the Urban Planning Committee’s delegated subcommittee for the decision on the maintenance plan.

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