Gwangmyeong-Siheung Public Housing District 'Agreed Transferors' Also Eligible for Special Housing Supply

Location Map of Gwangmyeong-Siheung Public Housing District Project

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Negotiated transferors who transferred land to developers as part of compensation negotiations for the Gwangmyeong-Siheung Public Housing District project will now be able to receive special housing supply, just like landowners in other new town project districts. This reflects the institutional improvement request from Gyeonggi Province. It is expected to ensure the resettlement and property rights protection of landowners in the Gwangmyeong-Siheung project district.

Gyeonggi Province announced that the "Regulations on Housing Supply (Ministry of Land, Infrastructure and Transport Ordinance)" containing these details were revised and implemented on the 29th.

The core of this revision is the expansion of the concept of negotiated transferors in public housing district projects from areas where development restrictions have been lifted to areas outside such zones, like the Gwangmyeong-Siheung district.

Previously, in 2010, the Gwangmyeong-Siheung district was designated as a public housing district under the then-government’s Bogeumjari Housing Project, and the development restriction zone was lifted. However, due to the real estate market downturn in 2015, the housing project was canceled, and the housing district was also lifted.

At the same time, it was designated as a special management area to prevent indiscriminate development, and thus has been subject to development restrictions similar to those in development restriction zones.

Under the existing system, special housing supply for negotiated transferors was provided to those who transferred land above a certain scale to developers through compensation negotiations in public housing districts where development restriction zones were lifted. However, this did not apply to the Gwangmyeong-Siheung district, which is a special management area and not a development restriction zone.

In particular, when the Gwangmyeong-Siheung district was additionally announced as part of the 3rd New Town in February last year, there was significant dissatisfaction among landowners who could not receive special housing supply. This was because other 3rd New Town projects were carried out in development restriction zones, allowing special housing supply.

In response, the province began the "Ministry of Land, Infrastructure and Transport - Gyeonggi Province Housing Policy Cooperation Working Meeting" in July last year and continued to submit several proposals and conduct on-site consultations.

As a result, the Ministry of Land, Infrastructure and Transport announced in August that it would expand the scope of negotiated transferors eligible for special housing supply to include public housing districts outside development restriction zone lifted areas. The Ministry announced the legislative notice of the amendment to the housing supply regulations on the 6th of this month.

Hong Ji-seon, Director of the Urban Housing Office of the province, said, "We will continue to propose institutional improvements so that the Gwangmyeong-Siheung district can apply resident support measures without discrimination from other public housing districts. We will strive for smooth progress of the Gwangmyeong-Siheung district by communicating with local residents and cooperating with related organizations."

The Gwangmyeong-Siheung Public Housing District Development Project is a project to supply 70,000 housing units over 12.71 million square meters in Gwangmyeong-dong, Gwangmyeong City, and Gwarim-dong, Siheung City. The district plan approval is scheduled for 2024, construction will begin in 2025, and completion is targeted for 2031.

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