Seoripul to Begin Compensation Procedures Before Public District Designation

Korea Land and Housing Corporation (LH) will now be able to purchase land even before the designation of a public housing district. The pace of projects such as the Seoripul District is expected to accelerate significantly.

The Ministry of Land, Infrastructure and Transport will announce the revised Special Act on Public Housing on December 2. This is the first improved system among the early compensation package measures announced in the September 7 supply expansion plan.

Under current law, project implementers of public interest projects can secure land through negotiated purchases even before district designation. However, for public housing district development projects, the project implementer is designated at the district designation stage, making it impossible to purchase land in advance. Negotiated purchase refers to a process in which the project implementer and the landowner voluntarily agree to a land sale.

Kim Yoonduk, Minister of Land, Infrastructure and Transport, visited the Seoripul District on the 5th of last month to review the project status. Provided by the Ministry of Land, Infrastructure and Transport

The revised special act allows the basic compensation survey to begin as soon as candidate sites are announced. This change can advance the start of the basic survey by up to one year. When developing the third phase new towns, it took about 16 months from candidate site announcement to the start of the basic survey.

The first target is the Seoripul District in Seoul, which is scheduled for district designation around January next year. LH and Seoul Housing and Communities Corporation (SH) have agreed to operate a collaborative system. In order to begin the basic survey immediately after the announcement of the revised act, they plan to order a field survey service and establish a dedicated compensation team for Seoripul within this month.

In addition, the Ministry of Land, Infrastructure and Transport plans to amend other relevant laws as soon as possible to reduce the total compensation period by more than one year. Aside from this measure, a bill to introduce a cooperation incentive payment was proposed last month. An amendment to the enforcement decree that adds compensation survey and relocation cooperation requirements to the negotiated transfer system is also pending. Kim Baeseong, Director of the Public Housing Promotion Division at the Ministry of Land, Infrastructure and Transport, said, "We have established a foundation to quickly initiate compensation procedures that have long been delayed during the public housing district project process."

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