Kim Dong-yeon Accelerates Redevelopment of 1st Generation New Towns... Formation of Dedicated Team and Enactment of Special Law

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Kim Dong-yeon, Governor of Gyeonggi Province, will form a dedicated task force directly under the governor to swiftly handle the redevelopment of the 1st generation new towns, and will initiate financial support and on-site investigations. In addition to the 1st generation new towns, redevelopment projects will also be promoted for aging apartment complexes in the old downtown areas of the province that have been established for over 30 years.

On the 24th, before receiving a business report from Gyeonggi Housing and Urban Corporation (GH), Governor Kim visited the Samboo Apartments in Saetbyeol Village, Bundang, and announced the "Comprehensive Plan for Redevelopment of 1st Generation New Towns in Gyeonggi Province," which includes these measures.

At this event, Governor Kim emphasized, "Gyeonggi Province will responsibly promote all possible measures within its authority to expedite reconstruction and remodeling of the 1st generation new towns." The plan includes ▲forming a dedicated task force directly under the governor ▲providing urgent financial support for redevelopment projects ▲conducting investigations on aging conditions ▲establishing redevelopment and development directions.

Accordingly, the province will first establish a private expert advisory group on the redevelopment of 1st generation new towns directly under the governor next month. The advisory group will provide advice on mid- to long-term policy design for new town redevelopment.

Alongside this, a "1st Generation New Town Redevelopment Promotion Committee" will be formed, involving the five 1st generation new towns: Bundang in Seongnam, Ilsan in Goyang, Jungdong in Bucheon, Pyeongchon in Anyang, and Sanbon in Gunpo. The committee will consist of the mayors of the five cities, provincial assembly members, city council members, and research institutions, and will specifically discuss redevelopment plans for each area. During this process, a "Citizen Cooperation Committee" composed of 20 residents from each of the five cities, totaling 100 members, will also be operated.

Next month, financial support will be provided for areas where redevelopment projects are urgent. The province will utilize special adjustment grants that the governor can execute to support consulting for redevelopment of aging facilities and initial costs for redevelopment projects.

Additionally, by December this year, the province will conduct an on-site investigation of aging conditions through resident surveys and inspections of aging housing. This project is linked to a research service by the Gyeonggi Research Institute that began in February. Based on the results of this investigation, the province plans to ensure that the findings are reflected in the Ministry of Land, Infrastructure and Transport’s master plan for redevelopment of the 1st generation new towns.

The province plans to design the redevelopment of the 1st generation new towns not merely as a measure against aging but to incorporate future-oriented values such as smart mobility and climate change response, so that the 1st generation new towns can lead the future and become cities equipped with social safety nets.

Furthermore, the province will actively promote redevelopment projects for aging apartment complexes within the province.

Governor Kim promised, "More than 80% of aging apartment complexes over 30 years old in Gyeonggi Province are located outside the new towns. For balanced redevelopment, we will pay attention not only to the issues of the 1st generation new towns but also to aging housing including those in old downtown areas."

Earlier, regarding the government’s "5-year plan to supply 2.7 million housing units" included in the August 16 real estate measures, Governor Kim stated on his social media (SNS), "Separately from the government, Gyeonggi Province will do what it can for the redevelopment of the 1st generation new towns," promising the formation of a dedicated team, promotion of a special law for the 1st generation new towns, and investigation of housing aging conditions.