Seongnam Accelerates 'Sinheung 3 · Taepyeong 3 Redevelopment Project'... Partnership with LH

Seongnam Mayor Shin Sang-jin is taking a commemorative photo after signing a redevelopment agreement with Lee Han-jun, President of Korea Land and Housing Corporation (LH), on the 20th.

Seongnam City in Gyeonggi Province is partnering with Korea Land and Housing Corporation (LH) to promote redevelopment projects aimed at improving the aging residential environments in Taepyeong 3 District and Sinheung 3 District in Sujeong-gu.

On the 20th, Seongnam City signed a business agreement at City Hall for the implementation of the 'Seongnam City 2030 Phase 2 (Taepyeong 3 · Sinheung 3) Redevelopment Project,' attended by Mayor Shin Sang-jin and LH President Lee Han-jun.

The redevelopment projects, which have been gradually promoted according to the '2030 Urban and Residential Environment Maintenance Basic Plan' announced by Seongnam City in 2019, are being carried out using a phased maintenance method to ensure housing stability for property owners and tenants in the target areas.

According to the agreement, LH, as the implementer of the phased maintenance redevelopment project, will secure public rental housing and prepare relocation measures for residents in the redevelopment areas, while Seongnam City will support the prompt execution of administrative procedures such as project implementation approval and management disposition plan approval to facilitate smooth progress of the redevelopment projects.

The two organizations have been promoting maintenance projects in 1 to 3 phases since 2006 to restore urban functions in Seongnam’s original downtown area and improve aging residential environments.

Previously, Seongnam City completed redevelopment projects for 14,400 households using the phased maintenance method in Dandae, Jung 3, Sinheung 2, Jung 1, and Geumgwang 1 Districts.

Next year, the city plans to accelerate the remaining redevelopment projects by proceeding with the project implementation approval for 2030 Phase 1 (Sujin 1, Sinheung 1) and signing a redevelopment project implementation agreement for Sangdaewon 3 District in 2030 Phase 2.

Mayor Shin Sang-jin of Seongnam emphasized, "The phased maintenance method, which can solve the side effects of full demolition redevelopment projects that force original residents out due to large-scale relocation demands, is a model case for redevelopment. We will work with LH to ensure the success of this project."

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