The government will supply 60,000 dwellings across 46 areas, including the Yongsan International Business District in Seoul, Taereung CC in Nowon District, the defense research institute in Dongdaemun District, and sites such as the Gwacheon Racecourse and the Counterintelligence Command in Gwacheon, Gyeonggi Province. This equals the supply volume of two Pangyo new towns, which total 29,000 dwellings. The government will supply more than 30,000 dwellings in Seoul alone, where the real estate market is overheating due to a shortage of dwellings.
The Ministry of Land, Infrastructure and Transport said on the 29th that it will supply 59,700 dwellings on 4.78 million square meters of land in central urban areas through the "Sept. 7 dwelling supply plan + plan to expand and expedite dwelling supply in downtowns." The supply volume is more than double that of Pangyo new town, and the area equals 1.7 times Yeouido's 2.9 million square meters.
Supply within Seoul totals 32,000 dwellings, accounting for 53.3% of the overall volume. Gyeonggi Province will supply 28,000 dwellings (46.5%), and Incheon will supply 136 dwellings (0.2%). Through downtown development, 44,000 dwellings will be supplied, and 10,000 through complex development of aging government office sites. The supply volume from new public dwelling districts is 6,000 dwellings.
This plan fleshes out the Sept. 7 dwelling supply plan to start construction on more than 1.35 million dwellings in the greater Seoul area by 2030.
An official at the Ministry of Land, Infrastructure and Transport (MOLIT) said, "We will transform various underused sites in the city center with good locations—such as idle urban land whose original functions have been reduced and old, outdated office compounds—into residential spaces for the public," and added, "We will focus supply on young people and newlyweds to promote residential stability for the younger generation."
◇ Utilizing public land in key downtown areas such as Yongsan, Seoul
The Ministry of Land, Infrastructure and Transport (MOLIT) will supply dwellings by utilizing public land in city centers. A total of 13,501 dwellings will be built in areas across Yongsan District, Seoul. That is 6,101 more than previously planned.
Specifically, 10,000 dwellings will be supplied in the Yongsan International Business District. By raising floor area ratios and other measures, 4,000 more dwellings will be added to the existing plan. The Ministry of Land, Infrastructure and Transport (MOLIT) aims to start construction in 2028 in consultation with the Seoul Metropolitan Government and related agencies.
At Yongsan Camp Kim, 2,500 dwellings are scheduled to begin construction in 2029. The Ministry of Land, Infrastructure and Transport (MOLIT) rationalized green space requirements within the Yongsan Park development zone to secure an additional 1,100 dwellings. On the site of the 501st Intelligence Unit, a U.S. Forces Korea return site, 150 small dwellings will begin construction in 2028.
Taereung CC in Nowon District, Seoul—also shortlisted as a candidate idle site during the Moon Jae-in administration—has been included again as a project site. The Ministry of Land, Infrastructure and Transport (MOLIT) plans to develop the 875,000-square-meter military golf course and start construction on 6,800 dwellings in 2030. It will push forward with a full-scale World Heritage impact assessment and create a customized residential area for young people and newlyweds.
In addition, by transferring the defense research institute and the Korea Economic Development Exhibition Hall in Dongdaemun District, Seoul, 1,500 dwellings will be supplied on a 55,000-square-meter site. In Eunpyeong District, 1,300 dwellings will be built on four research institution sites including The Korea Institute of Public Administration (KIPA). Development is also planned for the Gangseo military site in Gangseo District (70,000 square meters; 918 dwellings) and the Doksan Air Force base in Geumcheon District (130,000 square meters; 2,900 dwellings).
In Gyeonggi Province, the government will develop state-owned and public land in cities such as Gwacheon and Seongnam, which can serve as alternatives to Gangnam. On a 1.43 million-square-meter site created by transferring the LetsRun Park (Gwacheon Racecourse) and the Counterintelligence Command, 9,800 dwellings will be developed. Although the racecourse site is within a development-restricted zone (green belt; GB), it is considered to have low conservation value because housing site development is underway nearby. The government plans to build the Gwacheon artificial intelligence (AI) technovalley there and create an advanced, jobs-housing-proximate corporate city. Construction is slated to begin in 2030.
On a 674,000-square-meter site in Seongnam, adjacent to Pangyo Technovalley and Seongnam City Hall, 6,300 dwellings will be supplied. The Seongnam Geumto 2 and Seongnam Yeosu 2 districts will be developed as innovative industrial spaces linked to Pangyo Technovalley and as eco-friendly specialized residential complexes within the Cheonggyesan green space. Construction is slated to begin in 2030.
Other planned sites include the Gwangmyeong Police Station site in Gwangmyeong (9,000 square meters; 550 dwellings), the Sinjang Tennis Court site in Hanam (5,000 square meters; 300 dwellings), a military base in Namyangju (350,000 square meters; 4,180 dwellings), and the National Defense University in Goyang (330,000 square meters; 2,570 dwellings).
◇ Supplying 10,000 dwellings by utilizing aging government office buildings in downtowns
The Ministry of Land, Infrastructure and Transport (MOLIT) will repurpose aging government office buildings in downtown areas as dwellings. By utilizing sites such as the south site of Seoul Medical Center in Gangnam District, Seoul (518 dwellings), the Korean National Police Agency mounted police unit site in Seongdong District (260 dwellings), and the Ssangmun-dong educational research facility in Dobong District (1,171 dwellings), a total of 9,894 dwellings will be supplied across 34 locations.
The Ministry of Land, Infrastructure and Transport (MOLIT) said, "We will demolish aging public office buildings and similar facilities in downtown areas," and added, "By developing a complex of dwellings, public office buildings, and social overhead capital (SOC), we will create residential space for young people and others."
To ensure swift supply, the Ministry of Land, Infrastructure and Transport (MOLIT) will seek to expedite projects for the released sites. For sites requiring transfer of existing facilities, it plans to concentrate interagency resources so that transfer decisions and initiation can be completed by next year.
In particular, by pursuing exemptions from preliminary feasibility studies for public corporations this year, advance procedures such as the State Property Deliberation Committee and the World Heritage impact assessment will be carried out quickly. Thirteen candidate sites, including the defense research institute and the 501st Intelligence Unit, are expected to shorten development timelines through preliminary feasibility study exemptions.
For projects to create public dwelling districts that proceed when supplying dwellings for low-income residents, the Ministry of Land, Infrastructure and Transport (MOLIT) plans, through the Cabinet meeting and other steps, to promote for five years a measure recognizing exceptions to the total quota for lifting development restrictions.
Even after this release, the Ministry of Land, Infrastructure and Transport (MOLIT) plans to release in February new sites and institutional improvement tasks to expand downtown supply. It will also unveil in the first half of this year measures to expand the supply of dwellings for young people and newlyweds.
For the districts and surrounding areas announced that day, the Ministry of Land, Infrastructure and Transport (MOLIT) will immediately designate them as land transaction permit zones to preemptively block speculative land transactions. It will also launch investigations into abnormal transactions to prevent speculative activity.