Seoul City Receives 39 Applications for Additional 'Oh Se-hoon Style Moa Town'... Final Selection in October

First Public Offering of the Year with More Than 30 Applications
Selection in October After Preliminary Suitability Review and Procedures

[Asia Economy Reporter Hwang Seoyul] A total of 39 locations applied for the additional public offering of 'Moatown,' Seoul City's project to improve the residential environment of aging low-rise residential areas.

Seoul City announced on the 7th that as of the deadline on the 5th for the additional public offering of 'Moatown,' a total of 39 locations from 19 autonomous districts applied. Moatown is a redevelopment model that gathers aging low-rise residential areas, where new and old buildings are mixed and large-scale redevelopment is difficult, into a single unit to supply housing like a large apartment complex.

The number of applications in this additional public offering is larger than the first public offering conducted in the first half of the year (30 locations from 14 autonomous districts). In June, the city selected 21 sites from the areas that applied in the first public offering as target sites.

Source=Seoul City Hall

Additionally, according to the city, all nine autonomous districts that are not currently promoting the Moatown project (Yongsan, Gwangjin, Dongdaemun, Seongbuk, Eunpyeong, Yeongdeungpo, Dongjak, Gwanak, Gangnam) submitted applications this time.

The city plans to finalize and announce the selected target sites by October after a preliminary feasibility review and an expert selection committee. In particular, to gradually eliminate semi-basement houses vulnerable to flooding, areas prone to frequent flooding or at risk of flooding and areas densely populated with semi-basement houses will be prioritized for selection and review.

The final selection of target sites will be based on applications reviewed and submitted by the autonomous districts, followed by quantitative evaluation of the sites and preliminary feasibility review by relevant departments. For applications scoring 70 points or higher, a 'Selection Committee' composed of experts in urban planning, architecture, and transportation will be convened to make the final selection. Evaluation criteria include ▲whether Moa housing is promoted collectively (20 points) ▲alignment with the purpose of the Moatown target area (60 points) ▲urgency of redevelopment (20 points) ▲additional points (10 points).

The city will allocate the cost for establishing the Moatown management plan for the selected areas to the autonomous districts early next year to support prompt plan development through administrative assistance.

Yoo Changsoo, Director of Seoul City's Housing Policy Office, said, "We will do our best to stabilize the market by improving Seoul's residential environment and expanding housing supply through fast and effective housing policy operation and support."