In Jongno District, Seoul; Sasang District, Busan; and Bupyeong District, Incheon, a total of 32 locations across the country have been selected as leading project areas for 'New: Village.' It is expected that the residential environment will significantly improve as apartment-level infrastructure and amenities will be established in aging residential areas where redevelopment and reconstruction had been difficult, along with comprehensive support for housing maintenance.

'New: Village' is a project that provides apartment-level amenities such as parking lots, parks, and complex convenience facilities (care, sports, etc.) to low-rise residential areas, including aging single-family homes and villa towns where comprehensive redevelopment and reconstruction are challenging. It also offers financial and institutional incentives when the private sector maintains dwellings.

The Ministry of Land, Infrastructure and Transport announced on the 23rd that it has designated 32 locations nationwide as leading project areas for 'New: Village' after deliberation by the Special Committee on Urban Regeneration under the Prime Minister. A total of 61 locations competed in this leading project, resulting in a 2-to-1 competition rate. The business plans established by local governments based on guidelines announced by urban and maintenance experts in August were thoroughly evaluated for about two months before the final leading areas were selected through the Special Committee on Urban Regeneration.

Graphic = Son Min-kyun
Graphic = Son Min-kyun

The selected leading project areas include: ▲ 4 locations in Seoul (Oki-dong, Jongno District; Shinyoung-dong, Jongno District; Jung-gu; Gangbuk District) ▲ 3 locations in Busan (Sasang District; Jin-gu; Yeonje District) ▲ 2 locations in Incheon (Bupyeong District; Namdong District) ▲ 1 location in Daejeon (Jung-gu) ▲ 3 locations in Ulsan (Jung-gu; Nam-gu; Buk-gu) ▲ 1 location in Daegu (Jung-gu) ▲ 1 location in Gwangju (Gwangsan District) ▲ 3 locations in Gyeonggi (Gwangmyeong; Suwon; Gimpo) ▲ 2 locations in Chungcheongnam-do (Cheonan; Geumsan) ▲ 1 location in Jeollabuk-do (Buan) ▲ 4 locations in Jeollanam-do (Gangjin; Gwangyang; Damyang; Jangheung) ▲ 4 locations in Gyeongsangbuk-do (Yeongju; Gyeongju; Gumi; Sangju) ▲ 3 locations in Gyeongsangnam-do (Changwon; Namhae; Yangsan).

The Ministry of Land will invest a total of 12 trillion won, including up to 4.132 billion won in national funds, in the 32 project sites selected as 'New: Village.' It aims to improve the living environment by installing 237 basic and convenience facilities such as parking lots, complex convenience facilities, and parks that residents can access within a 5-minute walk in low-rise residential areas.

In particular, if residents pursue housing maintenance, benefits such as financial support and relaxation of floor area ratio will also be provided. When designated as leading project areas for 'New: Village,' each location will receive a maximum of 15 billion won in national funds for five years, and if development occurs in a cluster format adjacent to maintenance zones and basic convenience facilities, an additional 3 billion won will be granted. The floor area ratio will be relaxed by up to 1.2 times the legal limit. Low-interest loans will also be provided for self-housing maintenance projects.

A Ministry of Land official noted, 'Through the New: Village project, urban environments will improve, and as supported by public support organizations (Korea Real Estate Board) and specialized housing maintenance support from local governments, additional housing supply is also expected.'

Graphic = Son Min-kyun

In the areas selected as leading project sites, approximately 3,000 non-apartment units are planned to be supplied. Residents have completed the preparation of consensus documents for housing maintenance and applications for building permits. As about 570 units have completed project reporting and approval procedures, maintenance can begin rapidly.

A Ministry of Land official explained, 'The areas chosen for 'New: Village' were selected because it is challenging to redevelop them into apartments. We prepared a package solution for providing non-apartment housing in locations where it is difficult to maintain apartments.' The official added that regarding the supply of 3,000 non-apartment units, 'There are cases where single-family homes are built as multi-family or row houses, but often multiple residents consolidate their opinions to build villas.'

Specifically, looking at the main plans for the project sites selected as 'New: Village,' in Oki-dong, Jongno District, Seoul, facilities such as a childcare center and elderly welfare facilities will be provided in aging low-rise residential areas that are designated for redevelopment due to historical and cultural preservation reasons. It will also support community-based housing maintenance projects such as public rental dwellings and individual reconstruction.

The project concept map of Okindong, Jongno-gu, Seoul selected as a leading site for the New Village. /Courtesy of Ministry of Land, Infrastructure and Transport

In areas such as Gangbuk District in Seoul, Gwangmyeong City in Gyeonggi Province, and Gangjin County in Jeollanam-do, local governments will utilize vacant houses and shared lands adjacent to maintenance zones to enhance residents' convenience, linking maintenance projects with the installation of communal facilities. In addition, these regions plan to install parking lots, care and sports facilities, and parks near substantial new construction projects and consider adding underground public parking lots where vertical development is feasible.

In small-scale housing maintenance projects of about 10 units in regions such as Gyeongju City in Gyeongsangbuk-do and Buk-gu in Ulsan City, development will be connected with the installation of parking lots and other facilities through securing available land.

Municipalities selected for the project will undergo local urban regeneration committee (or local urban planning committee) reviews of their business plans and are expected to fully launch the project next year. The Ministry of Land plans to strengthen project management by conducting annual evaluations and will also pursue additional national funding support if new maintenance projects arise during the progress of the project that could be directly linked to cluster-type developments.

Lee Sang-joo, Director of the National Land and Urban Affairs Bureau of the Ministry of Land, said, 'New: Village is a pioneering project that integrates the supply of public infrastructure with private housing maintenance. It is anticipated that this will improve the living environment of aging low-rise residential areas and revitalize the stagnant non-apartment market.' He added that they plan to actively collaborate with municipalities selected for this leading project to ensure early project effects and continue to improve the system to enhance the viability of small-scale maintenance projects.