[8·4 Supply Measures] 10,000 Houses in Taereung and 4,000 Houses on Gwacheon Government Complex Site to Be Built (Comprehensive)

Supply of 132,000 Households in Seoul Area
Among Them, 33,000 Households Through New Site Discovery

10,000 Households at Taereung CC, 4,000 at Government Gwacheon Complex, etc.
Active Utilization of Idle Public Institution Sites Nationwide

[Asia Economy Reporters Inho Yoo, Chunhee Lee] As part of the August 4 Housing Supply Plan, the government will additionally supply 33,000 housing units in Seoul and the metropolitan area through new site developments and the development of idle land. The breakdown by plan is as follows: ▲Utilization of military land 13,100 units ▲Public institution relocation sites and idle land 6,200 units ▲Public facility complex development 6,500 units ▲Utilization of unsold public land 4,500 units ▲Additional construction in existing projects such as 3rd New Town 24,000 units ▲Expansion of existing projects 4,200 units.

Mini New Town with 10,000 Units at Taereung Golf Course, 4,000 Units Developed on Gwacheon Government Complex Site

The largest scale among the new sites is the Taereung Golf Course. A total of 1,000,000㎡ (approximately 250,000 pyeong) will accommodate 10,000 housing units. This is similar in scale to Songpa-gu Helio City (400,000㎡, 9,510 units) or Gangdong-gu Dunchon Jugong reconstruction planned complex (620,000㎡, 12,032 units). Since it is government-owned land, the development period will be shortened as much as possible.

A metropolitan traffic improvement plan to address concerns about traffic congestion was also announced. Additional trains will be deployed on the Gyeongchun Line to reduce the interval during rush hours to 10 minutes. Road plans include the expansion of Hwarang-ro, grade separation at Hwarangdae Intersection, undergrounding of Yongmasan-ro, and expansion of the Northern Arterial Road from Mukdong IC to Sinnnae IC. A Bus Rapid Transit (BRT) system connecting nearby subway stations and the project site will also be newly established.

Taereung Golf Course, opened in 1966 as a military-exclusive golf course, had been under negotiation between the government and the Ministry of National Defense for several years for housing supply, but the plan was not realized until now when the site development was suddenly confirmed.

Yongsan Camp Kim will accommodate 3,100 housing units. The Yongsan Camp Kim site, located near Samgakji Station, will begin full-scale development once the return process following the relocation of the U.S. Forces Korea is completed. It is a prime location close to the Yongsan Railroad Maintenance Depot, where 10,000 housing units will be built, so synergy effects from the site development are expected.

4,000 Units Supplied on Gwacheon Government Complex Site in Semi-Gangnam Area

Housing supply will also be carried out in the Gangnam area through the utilization of state-owned land and idle land of public institutions.

The largest scale is the government complex site in Gwacheon, known as the semi-Gangnam area. Approximately 4,000 housing units will be built. ▲Seocho Seoul Regional Public Procurement Service (1,000 units) ▲Seocho National Diplomatic Academy idle land (600 units) ▲Gangnam Korea Land & Housing Corporation (LH) Seoul Regional Headquarters (200 units) are relatively small in scale but are located in prime Gangnam areas and will be used as supply sources. The Seoul Regional Public Procurement Service and National Diplomatic Academy idle lands will be promoted for high-density development through zoning upgrades to semi-residential areas.

These government-owned lands will be supplied primarily to youth and newlyweds. However, the much-anticipated Seoul Trade Exhibition Center (SETEC) will have its usage conversion reviewed later in connection with Jamsil MICE.

8.4 Supply Plan New Site Discovery Plan (Provided by Ministry of Land, Infrastructure and Transport)

Utilization of Unsold Public Institution Land... Prime Sites in Sangam, Magok, and Yeouido Draw Attention

Housing will also be built on land that public institutions such as LH and Seoul Housing & Communities Corporation (SH) have tried to sell but have not yet sold.

The total construction volume is 4,500 units, including SH’s Sangam DMC (2,000 units), Magok District (1,200 units), Cheonwang District (400 units), and LH’s Yeouido site (300 units).

Additionally, 6,500 units will be supplied through complex development methods on aging post offices and public offices such as Myeonmok Administrative Town (1,000 units).

The Ministry of Land, Infrastructure and Transport also plans to supply public housing and convenience facilities step-by-step through high-density development on sites like Noryangjin Station, which were included in the May and June measures but whose sites were not disclosed due to prior consultations.

24,000 Additional Units for 3rd New Town Construction

Including the 3rd New Towns such as Bucheon Daejang, Incheon Gyeyang, Namyangju Wangsuk, Hanam Gyosan, and Goyang Changneung, 24,000 additional units will be supplied through increased floor area ratios in public housing sites.

By scale, the volume of large-scale public housing districts such as new towns will increase from 205,000 units to 216,000 units, with an additional 5,000 units supplied in medium and small-scale public housing districts. Furthermore, 3,000 units will be added in housing development districts, and 1,000 units in public-supported private rental housing promotion districts.

Meanwhile, the Yongsan Maintenance Depot site and Gangnam Seoul Medical Center site, whose housing supply plans were already announced, will increase housing volumes through zoning upgrades. The Yongsan Maintenance Depot will expand from 8,000 units to 10,000 units, and the Seoul Medical Center site will increase from 800 units to 3,000 units.