Why Was the Reconstruction Review of Jamsil Jugong 5 Complex Deferred Again?

Interpretations of Oh Se-hoon's Speed Control Theory
Seoul City Warns Against Overinterpretation as "Simple Supplementary Request"

▲A view of Jamsil Jugong Complex 5 in Songpa-gu, the first 50-story building owner along the Han River in Gangnam.

[Asia Economy Reporter Kim Hyemin] The reconstruction review of Jamsil Jugong Complex 5 in Songpa-gu, which was expected to benefit from the "Oh Se-hoon effect," has once again been postponed. Analysts suggest that Mayor Oh's call for a slowdown has put the project on hold. However, the Seoul Metropolitan Government dismissed this, stating that the delay was due to unresolved past issues.

According to the Seoul Metropolitan Government and Songpa District Office on the 4th, Songpa-gu sent an official letter to Seoul last month on the 20th requesting a review of the reconstruction maintenance plan for Jamsil Jugong Complex 5, but it was effectively rejected. The district office, having been delegated authority by the Urban Planning Committee to review and decide on submitted maintenance plans, requested the agenda be placed before the Authorized Subcommittee, but the city effectively declined.

Jamsil Jugong Complex 5, completed in 1978, had passed a partial review in 2017 to upgrade the zoning of general residential areas within the complex to semi-residential areas, aiming to rebuild up to 50 floors. Since then, the district office and the complex have repeatedly requested the agenda be placed before the Authorized Subcommittee, but the city has postponed it citing reasons such as stabilizing the real estate market, conducting educational environment impact assessments, and gathering residents' opinions.

The mayor had expected the project to gain momentum with Oh Se-hoon's inauguration, viewing former Mayor Park Won-soon's intentional delays as a hindrance, but attention is now focused on why the agenda was not placed this time either. Once the Authorized Subcommittee decides on floor area ratio, number of households, and number of floors, architectural review follows.

Some within the mayor's office interpret that Mayor Oh, recently cautious about easing private regulations due to concerns over rising housing prices, may have also slowed down the Jugong Complex 5 project. However, the Seoul Metropolitan Government warned against overinterpretation, stating, "We simply requested supplements." A Seoul city official said, "The issues that caused past postponements were not addressed and were resubmitted, so we requested further supplementation," adding, "In principle, once the related requirements are fully met, the review can proceed."

However, it is reported that the city also requested the union to clarify its stance on various newly raised complaints beyond the past supplementation requests. This could be seen as a stalling tactic. A Songpa District Office official said, "Along with the past issue of relocating the Shinchun Elementary School site, we have requested comprehensive supplementation regarding newly raised complaints such as the abolition of road plans, changes in commercial facility (hotel) usage, relaxation of floor limits, and maintaining the Type 3 residential area."