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S. Korean gov't plans to provide 12,900 new public housing units in Seoul Updated: 2021-04-14 14:10:50 KST


Aimed at addressing housing shortages, the South Korean government has chosen two districts as candidates for new public housing projects.
The Ministry of Land, Infrastructure and Transport said on Wednesday that it has appointed 13 sites in Seoul's Gangbuk-gu and Dongdaemun-gu districts.
Among the 23 initial candidates, the two districts were chosen following a feasibility review.
The Ministry says that through redeveloping low-rise buildings and areas near subway stations, it plans to provide 12,900 housing units in total in the two districts.
If the project goes ahead as planned, Gangbuk-gu district in northeastern Seoul will be able to supply around three,five hundred units in seven areas close to subway stations as well as five-thousand in four low-rise residential areas.
In Dongdaemun-gu district in the east of the city, just over three-thousand units will be provided in areas near metro stations, and 15-hundred in low-rise residential areas.
If 10 percent of the current residents in those areas approve the redevelopment plans then they will be designated as housing development sites.
And for final confirmation, at least two-thirds of landlords need to agree within a year after the designation is first made.
If these requirements are not met, the project will become invalid.
Providing new public housing is part of the Moon administration's 25th real estate package which was released in February this year.
It aims to supply around 830-thousand housing units across the country by 2025, including 320-thousand units in Seoul.
SEO Eunkyung, Arirang News.
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