The government will redevelop the areas around Seoul's Godeok Station and Bulgwang-dong to supply 4,156 public housing units. Korea Land & Housing Corporation (LH) will lead implementation and develop the two sites as an urban public housing complex project.
The Ministry of Land, Infrastructure and Transport (MOLIT) said on the 30th that on the 28th it designated the area near Godeok Station in Gangdong District (60,678 square meters) and 329-32 Bulgwang-dong in Eunpyeong District (48,859 square meters) as Urban Public Housing Complex Districts (urban complex districts). The two areas will be developed as high-density residential-commercial districts near subway stations, with 2,486 and 1,670 public housing units, respectively. Construction is targeted to begin in 2030.
LH will lead the projects on both sides. The Godeok Station district will be implemented jointly by LH and the Government Employees Pension Service, and the Bulgwang-dong district will be implemented solely by LH. In urban complex districts, the public sector leads the redevelopment and benefits such as higher floor area ratios are provided.
Currently, including candidate sites, the urban complex district program is underway in 49 locations. A total of 28 sites have completed district designation.
The Ministry of Land, Infrastructure and Transport (MOLIT) is pushing institutional improvements to accelerate the urban complex program. A revision to the Enforcement Decree of the Special Act on Public Housing is on public notice for legislation from this month through Jan. The key is to expand the special case easing floor area ratios—previously applied only to quasi-residential zones near stations—to all residential zones, including low-rise residential areas. Once the revision takes effect, urban complex districts will be able to raise floor area ratios to up to 1.4 times the legal cap.
The standard for exempting the obligation to secure parks and green space will also be eased, from business sites under 50,000 square meters to business sites under 100,000 square meters.
Kim Bae-seong, head of the public housing promotion team at the Ministry of Land, Infrastructure and Transport (MOLIT), said, "We will strengthen the collection of residents' opinions and work closely with local governments and project operators so residents can quickly feel the results of housing supply," adding, "To enable groundbreaking for 50,000 units by 2030, we plan to designate additional complex districts and push to designate a total of more than 48,000 units by the end of this year."