Jeong Wono Visits Redevelopment Zone: "Oh Sehoon's Supply Performance Lacking... Redevelopment Period to Be Shortened by 3 Years"

From 'Shintong Planning' to Move-In, City to Oversee the Entire Process
Welcoming a Real Estate Policy Debate with Oh Sehoon

Jeong Wono, the Democratic Party of Korea's candidate for Seoul mayor, stated on the 29th, "Mayor Oh Sehoon promised to supply 80,000 housing units annually, but the actual performance in terms of starting construction and moving residents in after designating redevelopment zones has been lacking." He added, "I will shorten the redevelopment project period by up to three years."

Jung Wono, the Democratic Party candidate for Seoul mayor, visited the Jangwi 14 district area in Seongbuk-gu, Seoul on the 29th and announced the blueprint for the "Steady Development" pledge. Jung Wono candidate camp

That morning, while visiting the Jangwi 14 district in Seongbuk-gu, Seoul, Jeong unveiled his 'Steady Development' vision and said, "Through cooperation with the government and the National Assembly, I will push to revise the Urban Renewal Act."

He continued, "We will simultaneously pursue both the master plan and the designation of redevelopment zones, and streamline the process by integrating the general meeting and approvals for project implementation and management disposition plans." He further stated, "We will extend floor area ratio (FAR) exceptions to industrial zones and raise the government purchase price for rental housing from the current standard construction cost to up to 80% of the base construction cost."

Additionally, he said, "For redevelopment projects with fewer than 500 units, we will transfer fiscal authority to the district offices," and, "We will assign specialized redevelopment project managers directly under the mayor to all redevelopment zones."

Jeong also noted, "We will steadfastly push forward with the 'Shintong Planning' initiative," but emphasized, "If Shintong Planning has expedited the designation of zones, now there is a need for an implementation system that takes responsibility for progressing from zone designation to construction and move-in." He added, "I will pursue Steady Development, where the Seoul Metropolitan Government provides close support from the start of the redevelopment project all the way to occupancy."

On the 29th, Jung Won Oh, the Democratic Party candidate for Seoul mayor, visited the Jangwi 14 district area in Seongbuk-gu, Seoul, to unveil a blueprint for his "Steady Development" campaign pledge. Jung Won Oh's campaign team

Jeong criticized, "Even as total supply has declined, Mayor Oh Sehoon has created division between the private and public sectors, pushing public redevelopment and urban public complex projects to the background." He continued, "It was only at the end of his term that he announced the Seoul-style public participation housing project, but for citizens, it was far too late."

He went on to say, "In consultation with the Lee Jaemyung administration, we will restructure the Korea Land and Housing Corporation (LH) Metropolitan Area Renewal Headquarters as a separate organization and expand and reorganize the public redevelopment business division of the Seoul Housing and Communities Corporation (SH)." He added, "We will actively utilize the expedited permit support center system to establish a permitting and licensing coordination system involving the Ministry of Land, Infrastructure and Transport, the Seoul Metropolitan Government, and local districts."

Regarding the issue of relocation due to the so-called 'jeonse crisis' and difficulties in obtaining relocation loans, Jeong commented, "Some aspects of the problem have been exaggerated." However, he acknowledged, "For smaller construction firms, there is an issue with relocation funds, and the solution proposed during Mayor Oh Sehoon's tenure was insufficient." Kim Namgeun, a member of the National Assembly who serves as chair of the Jeong Wono campaign’s Special Committee on Housing Policy, explained, "After the real estate policy was announced on June 27 of last year, we plan to check the status of management disposition approvals. Article 70 of the Urban Renewal Act allows associations to pay deposits to tenants and later seek reimbursement from association members after proceeding with the project. For project financing, the Housing and Urban Guarantee Corporation (HUG) provides guarantees and financial support."

On the difficulty of finding places to relocate, Assemblyman Kim stated, "The issue of jeonse and monthly rent is a real demand factor," and noted, "From 2022 to 2024, housing supply in Seoul declined significantly." He added, "Mayor Oh must also recognize his share of responsibility for the lack of sufficient housing supply."

In response to the previous day's proposal by Oh Sehoon for a policy debate on real estate, Jeong said, "I had already suggested a policy debate, but all I received in return was negativity." He remarked, "I welcome the idea of a policy debate. It would be best if we could both present our policies on site and allow them to be compared directly."

Jeong further stated, "While it takes more than 10 years to supply apartments, acquisition of rental units can be done in just one to two years, so we will expand to include villas, officetels, and residential buildings, making them available to a wider range of people."

At the campaign pledge announcement, Kim Youngbae (two-term Assemblyman, Seongbuk-gu Gap), Oh Gihyeong (two-term Assemblyman, head of policy headquarters, Dobong-gu Eul), Kim Namgeun (first-term Assemblyman, head of Steady Development and Urban Development Committee, Seongbuk-gu Eul), and representatives from nearby redevelopment associations were present.

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