Hong Nam-gi "Swift Promotion of Public Housing Project Main District Designation"

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, is speaking at a meeting with the Redevelopment Project Promotion Committee after completing an on-site visit to the Shingil 2 District Redevelopment Promotion Zone in Yeongdeungpo-gu, Seoul, on the afternoon of the 28th. 2021.7.28 [Photo by Yonhap News]

[Sejong=Asia Economy Reporter Son Seon-hee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, visited a candidate site for the low-rise residential area project of the Urban Public Housing Complex Project located in Singil-dong, Yeongdeungpo-gu, Seoul, on the 28th, stating, "We will promptly proceed with follow-up measures such as designation of the main district and spare no necessary support."

The Ministry of Economy and Finance explained that this visit was to check the progress of the Urban Public Housing Complex Project, which is being promoted as part of the '3080+ Plan' announced on February 4, and to encourage swift implementation. The related amendment to the law is scheduled to be enforced in September.

The Urban Public Housing Complex Project is a public-led development approach targeting old areas where self-development is difficult, consisting of three categories: station areas, semi-industrial areas, and low-rise residential areas.

In the case of the Yeongdeungpo Singil 2 district, selected as a candidate site for the low-rise residential area project, the resident consent rate is 64% (as of July 24), approaching the main district designation requirement (two-thirds resident consent rate).

Deputy Prime Minister Hong inspected the site location and project conditions of the Singil 2 district on the day. He also met with local resident representatives and project stakeholders to hear their opinions regarding future plans.