Remodeling After 15 Years...? Busan Mayor Park Hyung-jun Says "Remodeling and Redevelopment/Construction to Solve Housing Issues"

Promotion of Basic Plan Establishment Service for Apartment Remodeling Targeting Apartments Over 15 Years Old

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Apartment complexes in Busan that are over 15 years old are expected to be classified as targets for remodeling.

On the 29th, Busan City announced that it will establish a "Remodeling Basic Plan" targeting apartment complexes that have been completed for more than 15 years to facilitate smooth remodeling of aging apartment complexes.

Remodeling of aging apartment complexes is a representative pledge of Busan Mayor Park Hyung-jun aimed at simplifying redevelopment and reconstruction regulations and supporting housing for low-income residents.

Following the steady implementation of redevelopment and reconstruction simplification and deregulation since April, this basic plan initiative is expected to greatly contribute to expanding housing supply in urban areas.

Busan City recently secured 450 million won in service fees in this year's supplementary budget, recognizing the urgent need for management measures to improve the living environment of the increasing number of aging apartment complexes and enhance the quality of life for residents amid growing public interest in apartment remodeling.

The remodeling basic plan service will be commissioned in August to prepare the basic plan, followed by public viewing by residents, consultation with the city council, and review by the Urban Planning Committee, aiming to complete the plan by the second half of 2022.

The remodeling basic plan is established to systematically manage urban overcrowding and concentrated relocation demand caused by remodeling that increases the number of households, and it is a statutory plan under Article 71 of the Housing Act.

The main contents include ▲ presenting the goals and basic directions of the apartment remodeling basic plan ▲ investigating the current status of remodeling target apartment complexes ▲ forecasting demand for remodeling that increases the number of households and reviewing the impact on infrastructure due to the increase in households ▲ preparing phased remodeling implementation measures to prevent temporary concentration ▲ and establishing support measures for smooth remodeling promotion.

Busan City plans to establish an advisory group on apartment remodeling to review system improvements, policies, and technological advancements related to apartment remodeling.

Mayor Park Hyung-jun of Busan said, "I have emphasized remodeling of aging apartments to solve housing problems for low-income residents," adding, "Since more than 62% of apartment complexes in Busan are over 15 years old and aging is accelerating, we will promptly establish the basic plan and actively work to stabilize housing, improve the living environment, and resolve real estate instability."