Land Compensation Rate in 3rd New Town Namyangju Wangsuk Surpasses 70%

Namyangju Wangsuk District Bird's-eye View

The land compensation rate for the Namyangju Wangsuk district in the 3rd New Town development has surpassed 70%.

Korea Land and Housing Corporation (LH) announced on the 28th that the land compensation rates for Namyangju Wangsuk and Wangsuk 2 districts, where compensation work began last year, reached 71% and 63% respectively as of June. LH plans to promptly proceed with follow-up procedures such as expropriation decisions.

The Namyangju Wangsuk New Town will be developed over a total area of 11,047,662㎡ (approximately 3,342,000 pyeong) and is expected to accommodate a total of 68,000 households. Along with progressing the land compensation procedures, LH will also begin construction of urban infrastructure such as roads and pipelines. By the end of June, LH will issue construction orders for District 3 of Namyangju Wangsuk development and District 1 of Namyangju Wangsuk 2 development.

Meanwhile, on the 27th, LH signed a win-win cooperation agreement with Korea Electric Power Corporation (KEPCO) to facilitate smooth progress of projects in the Namyangju area. This agreement covers the relocation of transmission lines and stable operation and power supply of the power system within the Namyangju Wangsuk, Wangsuk 2, Namyangju Jinjeop 2, and Namyangju Yangjeong Station area project districts. LH expects that the housing supply of approximately 92,000 households across these four project districts in Namyangju will proceed more swiftly.

LH explained, "The transmission lines within the district act as obstacles to the development construction and are facilities that residents prefer to avoid. For smooth project progress, timely relocation is essential, and close collaboration with KEPCO is indispensable."

According to this agreement, LH and KEPCO will mutually cooperate and discuss △ rapid review of power system and power supply plans △ shortening project duration and reducing costs for transmission line relocation △ provision of land for stable power system configuration △ installation of eco-friendly power facilities, among other matters.