CCEJ: "Development Sacrificing Public Value Must Stop... Concerns Over Permanent Damage to Jongmyo's Value"

Regarding the redevelopment of Sewoon District 4 in front of Jongmyo, the Citizens' Coalition for Economic Justice (CCEJ) has called for an immediate halt to development that sacrifices public value for private gain. On the 13th, CCEJ issued a statement saying, "This issue goes beyond a simple individual building permit. We express serious concern that easing building regulations under the pretext of exercising private property rights could permanently damage the value of public goods?namely, world cultural heritage?which are the shared assets of humanity." The statement continued, "While private property rights are fundamental rights guaranteed by the Constitution, they may simultaneously be restricted by law for the sake of public welfare. The height restrictions around Jongmyo, which is not only an important cultural heritage of Korea but also recognized as a UNESCO World Heritage site, are not merely landscape regulations. Rather, they are essential institutional measures establish

General

11.13 11:24

Korea Land Trust Designated as Project Implementer for Gangnam's First Trust-Based Redevelopment: 'Naebang Station Transit-Oriented Development Project'

Korea Land Trust has secured the 'Naebang Station Transit-Oriented Development Project,' the first redevelopment project in Seoul's Gangnam area to be carried out using a trust-based method. On November 13, Seocho District Office announced that Korea Land Trust has been designated as the project implementer for the 'Naebang Station Transit-Oriented Development Urban Redevelopment Project' (hereinafter referred to as the Naebang Station Transit-Oriented Development Project), located at 872-1 Bangbae-dong, Seocho-gu. This project is significant as it marks the first trust-based redevelopment in the Gangnam area of Seoul. Transit-oriented development projects are a core policy initiative of the Seoul Metropolitan Government, aimed at promoting high-density development near subway stations. By allowing up to two levels of zoning upgrades, the project enhances profitability and pursues mixed-use development to strengthen community support functions. A representative from Korea Land Trust s

General

11.13 11:20

Housing Business 'Cools Down' Amid 10·15 Regulations... "Contraction in Seoul Metropolitan Transactions Spreads to Provinces" [Real Estate AtoZ]

Due to the 10·15 measures, buying sentiment has weakened, leading to a significant drop in the Housing Business Sentiment Index for November. According to the Housing Industry Research Institute (HIRI) on November 13, the Housing Business Sentiment Index for November, based on a survey of housing businesses, was recorded at 65.9, down 20.7 points from the previous month. When this index exceeds the baseline of 100, it indicates that a higher proportion of companies expect the housing business to improve. The decline was particularly pronounced in the Seoul metropolitan area, which recorded 64.1, down 31.0 points. Seoul saw the largest drop, falling by 35.1 points to 71.7. Gyeonggi Province followed, dropping 32.0 points to 62.8, while Incheon fell 26.2 points to 57.6. HIRI explained, "As all of Seoul and 12 areas in Gyeonggi Province have been newly designated as adjustment target areas, speculative overheating zones, and land transaction permit zones, buying sentiment across the Seoul

General

11.13 11:00

Loan Regulations Drive Up Jeonse Renewals... 'Compulsory Auctions' Drop Sharply [Real Estate AtoZ]

"I gave up looking for a new jeonse apartment. There are simply no listings available." Recently, the number of properties entering court-ordered auctions due to landlords being unable to return jeonse deposits has dropped significantly. This decline is particularly pronounced in the Seoul metropolitan area. As a series of real estate policies have made it more difficult to purchase a home or secure a new jeonse contract elsewhere, the number of compulsory auctions has also decreased. According to the Court Registration Information Plaza on the 13th, the number of applications for court-ordered auction initiation for collective buildings (such as officetels, apartments, multiplex housing, and multi-family housing) nationwide totaled 2,864 last month. This represents a 15.9% decrease compared to the previous month's 3,406 cases. The number of auction applications in the Seoul metropolitan area dropped sharply. Last month, Seoul, Incheon, and Gyeonggi Province recorded 1,997 applications

General

11.13 10:58

[Personnel] Ministry of Land, Infrastructure and Transport

<Section Chief Level> ▲ Director of Road Construction, Yoo Byungsoo ▲ Director of Road Management, Lee Jangwon ▲ Director of Railway Construction, Oh Sooyoung (effective November 14) ▲ Director of Road Management Bureau, Seoul Regional Land Management Office, Lee Seungyeop ▲ Director of Road Management Bureau, Wonju Regional Land Management Office, Kim Kwangseop ▲ Director of Road Management Bureau, Daejeon Regional Land Management Office, Baek Jinho ▲ Director of Road Management Bureau, Iksan Regional Land Management Office, Park Gukjun ▲ Director of Airport Facilities Bureau, Seoul Regional Aviation Office, Sung Eonsu (effective November 15) ▲ Director of New Town Maintenance Cooperation, Kim Jongseong (effective November 17)

General

11.13 10:51

Yongsan District Unit Planning Zone Divided into Six Areas... Hangang-daero Height Limit Eased to 120m [Real Estate AtoZ]

The Yongsan District Unit Planning Zone will be divided into six areas. The maximum building height along Hangang-daero, which stretches from Seoul Station to Hangang Bridge, will be eased to 120 meters (approximately 30 stories). The Seoul Metropolitan Government announced on the 13th that the 18th Urban and Architecture Joint Committee, held the previous day, had approved with amendments the “Yongsan District Unit Planning Zone and Planning Decision (Amendment) (Draft).” The Yongsan District Unit Planning Zone, which has been managed as the largest district unit planning area in Seoul’s urban area with a size of 3.3 to 3.5 million square meters since its initial designation in 1995, will now be divided into six areas tailored to local characteristics. This division takes into account the fact that the previous scale was excessively large and required a long period for planning adjustments to reflect changing conditions. The six areas are as follows: Seoul Station Area (710,000 squar

General

11.13 10:00

28-Story Hotel and Commercial Complex to Be Built in Wangsimni Station Area

A 28-story mixed-use complex featuring commercial facilities and a hotel will be constructed in the area surrounding Wangsimni Station. The Seoul Metropolitan Government announced on the 13th that it held the 18th Urban and Architectural Joint Committee meeting and approved, with modifications, the “District Unit Plan Decision (Draft) for 293-11 Haengdang-dong, Seongdong-gu” related to the “Wangsimni Station Area Revitalization Project.”The site is a major metropolitan transportation hub where six subway lines intersect, located at the Wangsimni metropolitan base, a key strategic point in northeastern Seoul. The area is densely populated with major public institutions such as Seongdong District Office, the district council, and Seongdong Police Station, making it a focal point for public services, commerce, and cultural activities. Currently, the site is being used as a parking lot. With this decision, the site will undergo mixed-use development aimed at expanding tourism infrastructur

General

11.13 10:00

Adjustment of Guest Room Ratio at Josun Palace Hotel in Yeoksam-dong... Seoul City to Support Businesses in Line with Tourism Demand

The Seoul Metropolitan Government is adjusting the ratio of guest rooms at the Josun Palace Hotel, located in Centerfield West Tower, Yeoksam-dong, Gangnam-gu, to respond to changing tourism demand. On November 13, the city announced that it had held the 18th Urban and Architectural Joint Committee meeting and approved the original proposal for the “Teheran-ro District Unit Plan and Detailed Development Plan for the Special Planning Zone at 676 Yeoksam-dong (Renaissance Hotel).” The site is located near the Centerfield intersection in the heart of Teheran-ro, between Yeoksam Station and Seolleung Station on Subway Line 2. It boasts excellent transportation accessibility. The property is part of Centerfield West Tower, which was completed in 2021 (basement levels 1?2, above-ground floors 3?4 and 24?36), and is currently leased and operated by Josun Palace Hotel. This amendment adjusts the ratio of guest rooms for tourist accommodation facilities, which was originally set in the detailed

General

11.13 10:00

Dongbu Construction Posts 670 Million Won Operating Profit in Q3, Marks Third Consecutive Quarter of Profitability

CCEJ: "Development Sacrificing Public Value Must Stop... Concerns Over Permanent Damage to Jongmyo's Value"

Korea Land Trust Designated as Project Implementer for Gangnam's First Trust-Based Redevelopment: 'Naebang Station Transit-Oriented Development Project'

Housing Business 'Cools Down' Amid 10·15 Regulations... "Contraction in Seoul Metropolitan Transactions Spreads to Provinces" [Real Estate AtoZ]

Loan Regulations Drive Up Jeonse Renewals... 'Compulsory Auctions' Drop Sharply [Real Estate AtoZ]

[Personnel] Ministry of Land, Infrastructure and Transport

Yongsan District Unit Planning Zone Divided into Six Areas... Hangang-daero Height Limit Eased to 120m [Real Estate AtoZ]

28-Story Hotel and Commercial Complex to Be Built in Wangsimni Station Area

Adjustment of Guest Room Ratio at Josun Palace Hotel in Yeoksam-dong... Seoul City to Support Businesses in Line with Tourism Demand

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