'Old-Age Planning City Special Act' to be Enforced in April... Leading Districts to be Designated in the Second Half of the Year

Ministry of Land, Infrastructure and Transport "Implementation of Key Tasks such as Enforcement Decree and Master Plan"
Designation of Maintenance Support Organizations LH, LX, HUG, etc.

A special law for the redevelopment of aging planned cities, including the 1st generation new towns, will be enforced in April next year. A lead redevelopment district for the 1st generation new towns will also be designated in the second half of next year.

On the 28th, the Ministry of Land, Infrastructure and Transport announced that it will implement major tasks next year, such as enacting enforcement ordinances, establishing master plans, and designating lead districts, in line with the "Special Act on the Redevelopment and Support of Aging Planned Cities" (hereinafter referred to as the Special Act), which will be enforced on April 27 next year.

The Special Act on Aging Planned Cities applies to sites of 1 million square meters or more where land development projects were completed over 20 years ago. When designated as a special redevelopment zone, incentives such as a floor area ratio increase of up to 500%, relaxation of safety inspection regulations, and others will be provided. Measures for relocation in the 1st generation new towns, where the reconstruction period has arrived, will be established to prevent market instability, and safety inspections, height restrictions, and floor area ratio limits will be eased. Additionally, projects can be expedited through integrated reviews.

The Ministry of Land, Infrastructure and Transport plans to announce the enforcement ordinance for legislative notice as soon as possible. It is reviewing granting maximum authority to local governments to enable urban redevelopment tailored to regional characteristics. Public contributions will also be proposed within a reasonable range so as not to impose excessive burdens on residents.

LH, LX, HUG, the Korea Real Estate Board, and the Korea Research Institute for Human Settlements will be designated as support organizations for the redevelopment of aging planned cities within next year. They will carry out tasks such as supporting the establishment of phased relocation plans, reviewing the feasibility of redevelopment projects in aging planned cities, and consulting on the designation of lead districts for each 1st generation new town.

The master plans, including the "Basic Redevelopment Policy" and the "Basic Redevelopment Plan" for each 1st generation new town, will be jointly established by the government and local governments within next year. The government will discuss with local governments to establish the basic policy considering necessity and feasibility, and will also support consulting needed for establishing the basic redevelopment plans.

The lead districts for each 1st generation new town will be designated in the second half of the year, considering factors such as the degree of improvement in residential conditions and enhancement of urban functions, as well as through gathering residents' opinions.

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