'Sintong Planning' Selected for Redevelopment in 21 Areas... Expecting Supply of 25,000 Households

Judging for 59 District-Recommended Sites Among 102 Applications
Includes 4 Urban Regeneration Areas Such as Changsin and Sungin
Anti-Speculation Measures Activated Including Land Transaction Permission Zones and Building Permit Restrictions
Maintenance Plan to Begin Early Next Year... Sequential Designation of Maintenance Zones from 2023

[Asia Economy Reporter Kim Hyemin] Seoul’s Mayor Oh Se-hoon’s redevelopment project under the ‘Rapid Integrated Planning (Shintong Planning)’ has selected 21 sites as the first redevelopment areas, including Changsin 23 and Sungin 56 in Jongno-gu, Cheongpa 2 district in Yongsan-gu, and Macheon 5 district in Songpa-gu. These areas have been designated as land transaction permission zones to prevent speculation, and from January 2 next year, acquisition of land shares exceeding 18㎡ in residential areas will be prohibited unless for actual residence purposes.

The selected candidate sites are mainly large-scale aging residential areas located near subway stations, and for the first time, four urban regeneration areas hoping for redevelopment have been included. Seoul City expects that if the project proceeds as planned, about 25,000 housing units can be supplied in downtown Seoul.

Seoul City announced on the 28th that out of 102 applications received through the Shintong Planning redevelopment contest, a total of 21 sites were selected as project sites after first and second rounds of screening. Shintong Planning is a redevelopment support program by Seoul City that provides guidelines balancing public interest and business feasibility from the planning stage and helps expedite project implementation. Applying this can shorten the zone designation period, which used to take over five years, to within two years. Even after zone designation, the project speed can be accelerated through integrated reviews of architecture, transportation, and environment.

◆ Large number of prime areas included in Songpa, Yongsan, and Mapo districts = The selected project sites include △Sanggye 5-dong area in Nowon-gu △Sinwol 7-dong 1 district in Yangcheon-gu △Macheon 5 district in Songpa-gu △Cheongpa 2 district in Yongsan-gu △Gongdeok-dong A district in Mapo-gu △70-1 area in Hawolgok-dong, Seongbuk-gu △69-14 area in Myeonmok-dong, Jungnang-gu △Banghwa 2 district in Gangseo-gu △Dangsan-dong 6-ga in Yeongdeungpo-gu △Cheonho A1-2 district in Gangdong-gu △19 area in Cheongnyangni-dong, Dongdaemun-gu △382 area in Majang-dong, Seongdong-gu △170 area in Suyu-dong, Gangbuk-gu △724 area in Ssangmun-dong, Dobong-gu, among others.

Notably, among the project sites, four urban regeneration areas that were excluded from the government’s public redevelopment contest were included: △Changsin-dong 23 and Sungin-dong 56 in Jongno-gu △Sillim 7 district in Gwanak-gu △Sangdo 14 district in Dongjak-gu △Garibong 2 district in Guro-gu. This provides an opportunity to improve residential environments in Seoul’s urban regeneration areas, which had been mainly preservation-focused. Three areas where redevelopment zones were lifted?△600 area in Bulgwang-dong, Eunpyeong-gu △8-400 area in Hong Eun-dong, Seodaemun-gu △810 area in Siheung-dong, Geumcheon-gu?were also selected as Shintong Planning project sites this time.

Initially, Seoul City planned to select a total of 25 sites, one per autonomous district, considering regional balanced development and district circumstances, but three districts?Jung-gu, Gwangjin-gu, and Gangnam-gu?were excluded after screening. Accordingly, Daechung Village in Irwon-dong, considered the last redevelopment area in Gangnam-gu, was also dropped from the candidate list. A Seoul City official explained, "These areas were judged to have low feasibility due to inconsistencies with district unit plans or resident conflicts such as cash settlements and opposition to the contest."

If the projects proceed as planned, the designated zones will begin redevelopment plan establishment early next year, with zone designation progressing sequentially from 2023. Seoul City expects to supply about 25,000 housing units through this.

◆ Designation of land transaction permission zones to block speculation = Along with selecting redevelopment candidate sites, the city decided to activate anti-speculation measures. First, the 21 candidate sites were designated and announced as land transaction permission zones from today, effective from January 2 next year, due to concerns about speculative demand inflow. The land area requiring permission will be lowered to about 10% of the legal standard area (over 18㎡ in residential areas). Additionally, September 23, the announcement date of the contest, was designated as the rights calculation reference date, and building permit restriction procedures will be immediately pursued based on the candidate selection date of the 27th.

Areas not selected in this contest and those applying for future contests will also be designated as land transaction permission zones and have building permits restricted to protect original residents and block speculation. The rights calculation reference date for areas not selected this time will be announced as January 28 next year. The city explained this measure reflects residents’ requests to block speculative forces inflowing through share splitting in aging low-rise residential areas due to redevelopment expectations.

Areas not selected this time can reapply in the next contest. However, the consent form for Shintong Planning redevelopment contest applications cannot be used for the public redevelopment contest.

Kim Seong-bo, Director of Seoul City’s Housing Policy Office, said, "The first candidate sites must proceed swiftly and well to give momentum to future candidates and ensure smooth progress. We will spare no support to enable rapid project implementation."