This year, the redevelopment of aging planned cities, including the first-phase new towns, is expected to get on track. The government plans to break ground on 63,000 homes in the first-phase new towns by 2030.
According to the Ministry of Land, Infrastructure and Transport on the 28th, the "inspection meeting of the support body for the redevelopment of aging planned cities" was held for the first time since the launch of the housing supply promotion headquarters at the housing supply special promotion headquarters of the Korea Land & Housing Corporation (LH) in Yongsan District, Seoul, the previous morning.
At the meeting, participants reviewed the establishment of special redevelopment plans at three public-implementation sites, prepared a dedicated guarantee product for aging planned city redevelopment, checked key work results by institution for digital authentication for full-consent procedures, and discussed ways to advance these efforts.
The Ministry of Land, Infrastructure and Transport (MOLIT) and related agencies plan this year to promote without setback the preparation of project implementation plans for pilot districts in the first-phase new towns; to speed up and strengthen support for aging planned city redevelopment projects; and to begin full-fledged redevelopment of aging planned cities nationwide, including approval of master plans for Busan, Daejeon, and Incheon.
LH will identify additional public-implementation candidate sites in the first-phase new towns within the year, and the Korea Housing & Urban Guarantee Corporation (HUG) will begin forming a future city fund and supporting project costs starting in June. In addition, the Korea Real Estate Board (REB) will provide pre-consulting on construction cost contracts when selecting builders, and the Korea Legislation Research Institute (KLRI) will prepare subordinate laws in a timely manner to streamline procedures.
LH will also additionally operate the Busan future city support center in the first quarter and, together with the Korea Research Institute for Human Settlements (KRIHS) and The Korea Transport Institute (KOTI), support expedited approvals through preliminary reviews of master plans for special metropolitan cities.
The Ministry of Land, Infrastructure and Transport (MOLIT) will hold briefings on the redevelopment system for aging planned cities starting in March to encourage residents' sufficient understanding and active participation.
Kim Young-guk, head of the housing supply promotion headquarters at the Ministry of Land, Infrastructure and Transport (MOLIT), who chaired the meeting, said, "Through systematic and orderly redevelopment of aging planned cities, including the first-phase new towns, we will be able to establish a stable base for supplying dwellings," and added, "In 2026, we will swiftly push ahead with selecting project operators and builders for pilot districts in the first-phase new towns so that major goals can become visible, including breaking ground on 63,000 homes in the first-phase new towns within the term as presented in the Sept. 7 measures, and we ask the aging planned city redevelopment support bodies to join forces."