The Seoul Metropolitan Government will improve the 'pre-negotiation system' to quickly create development conditions and secure public interest. The selection period for pre-negotiation sites will be shortened by about 3 months, and an additional incentive item for floor area ratio will be established.
The pre-negotiation system, introduced in 2009, is a system where private developers of sites larger than 5,000 square meters consult in advance with public authorities on the feasibility of urban planning changes and methods to ensure public rationality in development. It increases the business potential for the private sector through zoning amendments and allows for the activation of private development projects by contributing part of the development profits to public interests, thereby promoting balanced urban development. Over 16 years, a total of 23 business sites have proceeded with projects through pre-negotiations.
On the 25th, the Seoul Metropolitan Government announced that it will integrate the selection procedure for pre-negotiation sites, which proceeds in two stages with the 'Large Site Development Policy Task Force (TF)' and the 'Urban Architecture Joint Committee Advisory'. The Seoul Metropolitan Government expects that the integration will shorten the site selection period by about 3 months. The procedures for amending related local government ordinances and guidelines have been completed.
The Seoul Metropolitan Government has also decided to provide an additional floor area ratio incentive of up to approximately 80 percentage points for pre-negotiation sites that secure open spaces in addition to the mandatory area. The additional floor area ratio incentive will be calculated using a formula applied under the 'Incentive Operation Standards for Open Spaces in District Unit Plans'. The final total amount of incentives will be determined after review by the Urban Architecture Joint Committee.
The Seoul Metropolitan Government will apply the improved content to newly initiated pre-negotiation sites going forward.
Meanwhile, the recent complex development project at the Dong Seoul Terminal in Gwangjin District has passed the Urban Architecture Joint Committee's review procedure for pre-negotiations. Development of the Seoul Forest Sam-pyo Ready-Mixed Concrete site in Seongdong District is also currently undergoing district unit plan preparation after finishing pre-negotiations. Pre-negotiations are underway for the development plans of The-K Hotel in Seocho, Seoul Ready-Mixed Concrete site, and the former Korea Appraisal Board site in Gangnam.
The Gangnam Global Business Complex (GBC) and the Eastern Freight Terminal site are negotiating changes to the development plan.