Ministry of Land, Infrastructure and Transport Forms Public-Private Joint Task Force for Redevelopment of 1st Generation New Towns

Decision to Support the Establishment of a Comprehensive Plan

[Asia Economy Reporter Kim Min-young] The Ministry of Land, Infrastructure and Transport announced on the 30th that it has formed the '1st Generation New Town Redevelopment Public-Private Joint Task Force (TF)' and held its first meeting to redevelop the 1st generation new towns.

As 30 years have passed since the development of the 1st generation new towns, various issues such as lack of infrastructure, building safety, and weakening urban competitiveness have emerged. Accordingly, there have been continuous calls to accurately diagnose and analyze the current status of the 1st generation new towns and prepare related countermeasures before the situation worsens further.

In response, the government judged that, considering the characteristics of new town plans and the need for metropolitan transportation improvement and infrastructure expansion, it is necessary to establish a comprehensive mid- to long-term redevelopment plan and improve related systems for the 1st generation new towns. To establish these systems, the government formed a public-private joint task force consisting of private experts from various fields to develop a comprehensive redevelopment plan and promote legislative support.

The task force will be co-led by Professor Kim Ho-cheol of Dankook University’s Department of Urban Planning and Real Estate and Kim Heung-jin, Director of the Land and Urban Office. The task force includes private experts essential for the redevelopment of the 1st generation new towns in fields such as urban planning, housing, and real estate finance, as well as policy officials from the Ministry of Land, Infrastructure and Transport and Gyeonggi Province, and practical experts from public institutions including Korea Land and Housing Corporation, Housing and Urban Guarantee Corporation, Korea Real Estate Board, and Gyeonggi Housing and Urban Corporation.

The public-private joint task force is organized into two subcommittees focusing on planning and systems, and will hold regular meetings to review policy directions for the redevelopment of the 1st generation new towns.

The committee members attending the meeting agreed on the necessity of planned redevelopment to respond to the aging of the 1st generation new towns and discussed operational plans and review tasks for supporting policy formulation through the task force.

Specifically, efforts will be concentrated on establishing a comprehensive plan (master plan) that reviews urban regeneration measures such as old housing maintenance, infrastructure expansion, metropolitan transportation improvement, and urban function enhancement from the perspective of urban re-creation through analysis of the current urban planning status of the 1st generation new towns.

Additionally, the task force will analyze multiple bills related to the redevelopment of aging new towns currently pending in the National Assembly to seek reasonable institutionalization measures and simultaneously support their legislation.

Co-Team Leader Kim Ho-cheol stated, "We will actively respond to market demands to revitalize local areas while supporting the establishment of a solid comprehensive plan to ensure balanced development among regions."

Kim Heung-jin, Director of the Land and Urban Office, said, “To strengthen the competitiveness of the 1st generation new towns and solve urban problems, we will review the direction for establishing a comprehensive plan based on a thorough status analysis and support related legislation focusing on system improvements.”