Reconstruction Assessment to Be Eased for Stand-Alone Complexes Making Significant Public Contributions

Ministry of Land Amends Enforcement Decree of Special Act on Maintenance of Aging Planned Cities

A plan has been established to ease the reconstruction assessment standards for stand-alone complexes within aging planned cities. Previously, when multiple residential complexes in the area were combined for integrated reconstruction, the assessment criteria could be relaxed or waived. Under the new plan, the same criteria will be applied if substantial public contributions are made.

The Ministry of Land, Infrastructure and Transport announced that the revised enforcement decree of the Special Act on the Maintenance and Support of Aging Planned Cities, which includes these measures, was approved at the Cabinet meeting on April 14. It is scheduled to be promulgated on April 21. This is a measure to facilitate and accelerate redevelopment projects within aging planned cities such as the first-generation new towns.

Previously, stand-alone complexes without adjacent aging residential complexes, or where all surrounding complexes had already begun redevelopment projects, faced slower progress in their own reconstruction. To address this, the assessment will be eased if public contributions are paid in excess of the statutory ratio. If the statutory ratio is exceeded and adjacent infrastructure is redeveloped together, the assessment requirement will be waived entirely.

Bundang Skyline

The Ministry of Land, Infrastructure and Transport expects that this measure will help reduce the burden of initiating redevelopment projects. By encouraging stand-alone complexes to be redeveloped together with infrastructure, it is also expected to contribute to improving urban functions and residential quality.

When establishing a special maintenance plan for aging planned cities, the process of estimating contributions will be simplified from individual calculations to type-based estimations, according to factors such as complex, exclusive area, and building type. This is expected to reduce the administrative burden for residents. Yoon Youngjung, Director of Housing Maintenance Policy at the Ministry of Land, Infrastructure and Transport, stated, "We will continue to support the prompt and seamless progress of redevelopment projects in aging planned cities, including the first-generation new towns."

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