Legislative Notice of Milling Method Amendment... Full-Scale Preparation of System for Supplying New:Home in Station Area

The Ministry of Land, Infrastructure and Transport announced on the 7th that it will publicly notify the draft amendments to subordinate laws such as the Enforcement Decree and Enforcement Rules of the "Urban and Residential Environment Maintenance Act," which include simplification of procedures and provision of benefits for maintenance projects such as reconstruction and redevelopment.

This amendment specifically stipulates the delegated matters of the revised law aimed at expanding housing supply through maintenance projects.

First, in areas such as station zones, when the floor area ratio is relaxed up to 1.2 times the legal limit, at least 50% of the additionally relaxed floor area ratio beyond the legal limit (as stipulated by city/provincial ordinances) can be utilized as New:Home, and in this case, the land acquisition price for the acquirer is set at 50% of the appraised value.

When providing public rental housing, the incentive to receive floor area ratio up to the legal limit will be expanded from the current residential areas to include semi-industrial areas.

When landowners request the drafting of a maintenance plan, the required consent ratio will be set from less than one-third to a ratio specified by ordinance, and the authority designating the maintenance zone will be required to present the basic directions of the maintenance plan, such as development density including floor area ratio and height, and the installation direction of public facilities, in advance to the plan drafter.

When a trust operator or a specialized development institution such as the Korea Land and Housing Corporation (LH) proposes to the designating authority to prioritize the designation of a maintenance zone before establishing a maintenance plan, it is stipulated that consent from more than one-third of landowners must be obtained before the proposal.

The full text of the amendment can be found in the official gazette and on the Ministry of Land, Infrastructure and Transport website, and opinions on the amendment can be submitted through the website, etc.

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