Korea Land & Housing Corporation (LH) said on the 29th that the Shinhung 1 redevelopment maintenance project, part of Seongnam's 2030-1st phase redevelopment plan, received approval for its project implementation plan and has entered a full-fledged project phase.
With this approval, Shinhung 1 district, located around 4900 Shinhung-dong in Seongnam, will be developed into three apartment blocks, up to 17 stories, totaling 3,754 households. Within the district, neighborhood parks, a public office and cultural facilities, and a public parking lot will be built as maintenance infrastructure. The old downtown, once a deteriorated residential area, is expected to be reorganized into a large-scale transit-oriented residential complex with residential, lifestyle, and public functions.
Shinhung 1 district is a transit-oriented location adjacent to Sujin Station and Shinhung Station on Subway Line 8, offering excellent access to major parts of Seoul, including Gangnam and Songpa. It also has easy access to the Capital Region First Ring Expressway and the Bundang-Suseo Expressway, making it an area with strong transportation conditions and high residential preference.
After its maintenance plan was established and the maintenance district was designated in 2020, Shinhung 1 district completed designation of the implementer (LH) in 2021 and selection of the builders (GS Engineering and Construction, DL E&C, Kolon GLOBAL) in 2022. Following this approval of the project implementation plan, approval of the management and disposal plan is slated for 2026, the supply of circulation housing and the start of relocation in 2027, and groundbreaking in 2028, to be pursued sequentially.
To ensure the project proceeds without a hitch, LH will immediately begin procedures for land and other owners to apply for allocation right after the approval notice, and will further speed up the project by shortening and running follow-up procedures in parallel.
Since the early 2000s, LH and Seongnam City have introduced, step by step, a public-participation circulation maintenance approach to solve problems in deteriorated residential areas in the old downtown. To date, a total of 15,000 households have moved in through this approach.
The circulation maintenance model uses rental housing owned by LH as relocation sites to reduce the burden of moving, raise the resettlement rate of original residents, and shorten the project period.
With the public sector participating as the implementer, it can receive support from the local government in the form of free grants of public land and funding for maintenance infrastructure construction, lowering the project expense burden on land and other owners while enabling swift, fair, and transparent project execution.
Park Hyeon-geun, head of LH's Metropolitan Area Maintenance Projects Special Headquarters, said, "With this approval of the project implementation plan, we will move quickly on the follow-up steps to accelerate early groundbreaking at Shinhung 1 district and the expansion of housing supply in the city," adding, "Through a maintenance project with public participation, we will actively contribute to improving the residential environment of Seongnam's old downtown and achieving the government's policy goals."