SH Corporation-Yangpyeong 13, Public Redevelopment Joint Project Implementation Agreement

Photo by Seoul Housing & Communities Corporation

[Asia Economy Reporter Hwang Seoyul] Seoul Housing and Communities Corporation (hereinafter SH Corporation) and Yangpyeong District 13 Urban Environment Improvement Project Association (hereinafter the Association) announced on the 29th that they have signed the "Yangpyeong 13 District Public Redevelopment Joint Project Implementation Agreement."

Yangpyeong 13 District is a redevelopment project area that has been stagnant for a long time since being designated as a maintenance district in 2009, and was selected as a candidate site for the public redevelopment project in January under the "Plan to Strengthen the Housing Supply Foundation."

SH Corporation decided to participate in the project at the board meeting last September, and the Association collected consent forms for designation as the public redevelopment project implementer from January this year, securing a consent rate of 62.7% from its members. Subsequently, on April 30, the Association held a general meeting and approved the designation of joint project implementers and the joint project implementation agreement.

According to this agreement, a basis was established to divide roles among joint project implementers and to stipulate methods for carrying out the maintenance project.

Kim Heondong, President of SH Corporation, stated, "Yangpyeong 13 District is the first public redevelopment joint project site where the Association and SH Corporation jointly implement the project," adding, "Through project implementation together with residents, we will actively realize public redevelopment policies and contribute to stabilizing the housing market."

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