The Seoul city government has begun the process of introducing the 'Seoul-type Floor Area Transfer System.' The floor area transfer system allows the transfer of unused floor area ratios to other regions in the form of a transaction. Starting next month, the city plans to analyze potential target areas for the initiative. The system is expected to be implemented as early as the first half of the year through amendments to the local government ordinance. Areas subject to height restrictions due to cultural properties, such as the Bukchon in Gye-dong, Jung-gu, and the Pungnap-dong in Songpa-gu, are anticipated to benefit from the system.
According to the maintenance industry and Seoul city on the 17th, the city will hold a 'Urban Space Policy Conference' on the 25th and announce the results of the study on the 'Seoul-type Floor Area Transfer System.' Professor Nam Jin of Seoul City University will present on 'New Strategies for the Floor Area Transfer System to Enhance Urban Competitiveness,' while Professor Kim Ji-yeop of Sungkyunkwan University will discuss 'Legislative Approaches for Realizing the Floor Area Transfer System.'
The floor area transfer system is operated in a way that allows the sale of floor area ratios from areas with height restrictions due to cultural properties. For example, if a commercial area in Pungnap-dong has a floor area ratio of 1000%, but can only use 400% due to height restrictions from a cultural property (Pungnap Toseong), then the remaining 600% can be sold.
According to the 'Act on the Planning and Utilization of National Territory' (National Territory Planning Act), the application method within the upper floor area ratio of land is determined by the authority of local government heads. Therefore, once the Seoul city government establishes the related local government ordinance, it can immediately implement the floor area transfer system.
Jang Young-jun, head of the Seoul City Planning and Policy Team, noted, 'The draft for creating the local government ordinance has already been prepared, and we plan to present it to the Seoul City Council around April.' He added, 'There is already a consensus among members of the Urban Planning Balance Committee, so there will likely be no major objections to the ordinance being enacted. If things go smoothly, the system could be implemented as early as June or July.'
The Seoul city government will also begin the process of selecting sites for applying the floor area transfer system. Starting next month, the city plans to find target sites through technical research services. The focus will primarily be on areas where restrictions due to cultural properties prevent the full utilization of allowed floor area ratios. Height restrictions apply around national heritage sites (100m) or cultural heritage designated by the city of Seoul (50m). In Gye-dong, where the Bukchon Hanok Village is located, there are height restrictions near Chungang High School and the area around Ahn Guk-dong. In the vicinity of Gyeongbokgung Palace, areas like Hyoja-dong and Cheongun-dong and Tongui-dong, and Samcheong-dong also have height restrictions of 15 to 20m.
The area around Pungnap Toseong in Songpa-gu is also a representative height-restricted area. Pungnap-dong is managed in five regions according to the 'Special Act on the Preservation and Management of Pungnap Toseong.' Among these, the third region, which includes Pungnap 1 and 2-dong, is designated as a 'Cultural Layer Preservation Area,' allowing only buildings up to seven stories and 21m in height. The remaining four regions are also subject to angular restrictions, with a height limit based on 7.5m from the boundary of the protection area at an angle of 27 degrees.
Kim Kyung-min, a professor at the Graduate School of Environmental Studies at Seoul National University, stated, 'Most major cities in developed countries have introduced and operated systems similar to the floor area transfer system.' He added, 'This system should allow people whose property rights are infringed by height restrictions due to cultural properties to sell their floor area ratios.'
A Seoul city official remarked, 'The floor area transfer system is one of the top priorities for the city, so prompt improvements to the system are expected.'